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I Didn’t Demand 5% Equity in Nigeria Air as Kickback—Nnolim Nnaji

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Nnolim Nnaji

By Modupe Gbadeyanka

The Chairman of the House of Representatives Committee on Aviation, Mr Nnolim Nnaji, has responded to the allegation made by the former Minister of Aviation, Mr Hadi Sirika, that he demanded a five per cent equity in Nigeria Air.

Mr Sirika, while on Arise TV on Sunday evening, claimed that the lawmaker declared the controversial national carrier as a fraud because he was not given a stake in the company as a kickback.

“Hon Nnaji asked me that I should give him 5% of Nigeria to carry him along with his people, and I said to him at that time, Honourable, a bidding process has taken place, and some people won. So, I think you should go to those people and ask for the 5 per cent,” he said.

But responding in a statement, Mr Nnaji refuted the allegation describing the former Minister as “a drowning man struggling to grab anything on his way to survive the barrage of attacks he has been receiving since his controversial unveiling ceremony of the so-called Nigeria Air.”

According to him, Mr Sirika was not happy that he had demanded transparency and due process in all matters relating to the aviation sector, especially the Nigeria Air project.

“Ordinarily, l would not have bothered to reply to his allegations of my demand for 5 per cent equity in Nigeria Air as he claimed during his interview on Arise Television, but l believe l owe my constituents and indeed Nigerians a duty to put the records straight.

“It is on record that last year when the Minister announced Ethiopian Airlines as a core investor in Nigeria Air, my committee, which was also inundated with petitions from various stakeholders regarding that announcement, invited the Minister and his team to furnish the committee with the details of the project.

“The committee requested the evidence of the bid process that gave Ethiopian Airlines the award and the full business case as prepared by the Nigerian Infrastructure Concession Regulatory Commission (ICRC), which was supposed to spell out the details of all the investors and their equity contributions.

“Sirika, at that meeting, said Full Business Case was still being worked out by the ICRC and promised to make it available to the committee as soon it was ready, which he failed to do before Airline Operators of Nigeria (AON) took the Ministry to court and got injunction restraining it from going ahead with the project,” he explained.

“We suspended our discussions and enquiries on the project the moment the court got involved. Normally when a matter is before the court, the parliament does not discuss it.

“However, on May 20, 2023, l received reports of threats of mass resignations by key personnel of the Nigeria Civil Aviation Authority (NCAA) due to pressures from the Ministry to give waivers to Nigeria Air to enable it to secure Air Operator’s Certificate (AOC) so that it could take off before the exit of the last administration of President Muhammadu Buhari.

“I quickly issued a statement warning the former Minister against subverting the authority of NCAA because of its severe consequences on Nigeria’s air transport sector. It is also common knowledge that the Nigerian institutional investors he mentioned as participants have all denied him.

“It is not strange that Sirika came up with these spurious allegations against my person because l consistently demanded that he follow due process.

“He should not deviate from the subject matter. Let him tell Nigerians the truth about the contraption he sold to us as Nigeria Air. Nnolim Nnaji is not his problem,” he further explained.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Travel/Tourism

Trump Slams Partial Travel Ban on Nigeria, Others Over Security Concerns

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By Adedapo Adesanya

The United States President Donald Trump has imposed a partial travel restriction on Nigeria, as part of a series of new actions, citing security concerns.

The latest travel restriction will affect new Nigerians hoping to travel to the US, as it cites security concerns and difficulties in vetting nationals.

The travel restrictions also affect citizens of other African as well as Black-majority Caribbean nations.

This development comes months after the American President threatened to invade the country over perceived persecution against Christians.

President Trump had already fully banned the entry of Somalis as well as citizens of Afghanistan, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Myanmar, Sudan, and Yemen.

The countries newly subject to partial restrictions, besides Nigeria, are Angola, Antigua and Barbuda, Benin, Dominica, Gabon, The Gambia, Ivory Coast, Malawi, Mauritania, Senegal, Tanzania, Tonga, Zambia and Zimbabwe.

Angola, Senegal and Zambia have all been prominent US partners in Africa, with former president Joe Biden hailing the three for their commitment to democracy.

In the proclamation, the White House alleged high crime rates from some countries on the blacklist and problems with routine record-keeping for passports.

The White House acknowledged “significant progress” by one initially targeted country, Turkmenistan.

The Central Asian country’s nations will once again be able to secure US visas, but only as non-immigrants.

The US president, who has long campaigned to restrict immigration and has spoken in increasingly strident terms, moved to ban foreigners who “intend to threaten” Americans, the White House said.

He also wants to prevent foreigners in the United States who would “undermine or destabilize its culture, government, institutions or founding principles,” a White House proclamation said.

Other countries newly subjected to the full travel ban came from some of Africa’s poorest countries — Burkina Faso, Mali, Niger, Sierra Leone and South Sudan — as well as Laos in southeast Asia.

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Detty December: FCCPC Investigates Possible Exploitative Air Fares

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By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has commenced an investigation into pricing templates behind high ticket rates charge by some airlines on some domestic routes.

A statement issued by the Director of Corporate Affairs of the commission, Mr Ondaje Ijagwu, in Abuja said the investigation was to establish possible violations of the provisions of the law.

Mr Ijagwu said that concerns had been expressed widely in the past few days over what appeared to be coordinated manipulation or exploitation in the pricing of airline tickets by some airlines on certain routes, adding that the routes where concerns had been raised included the South-East and South-South, as the festive season began.

According to him, the ongoing investigation targets operators on the identified routes.

He said the commission would apply appropriate enforcement measures where evidence showed any violation of the Federal Competition and Consumer Protection Act (FCCPA).

Mr Ijagwu explained that Air Peace, had instituted a court action seeking to restrain the agency from examining its pricing mechanisms, following the commencement of an investigation into its pricing model after widespread complaints from members of the public.

He said the ongoing inquiry was without prejudice to the case instituted against the Commission by Air Peace.

The director quoted the vice chairman of FCCPC, Mr Tunji Bello, as saying “the commission would not hesitate to act where evidence showed that consumers welfare or market competitiveness were being undermined.

”For the avoidance of doubt, we are not a price control board but the FCCP Act 2018 empowers us to check the exploitation of consumers.

”When we receive petitions or where we find cogent evidence, we will not stand by and watch Nigerian consumers being exploited under any guise.

”Given the arbitrary spike in airfares, the Commission is extending its review of pricing patterns, the basis for the increases reported by consumers, and any practices that could undermine fair competition.

”Where evidence confirms a breach of the Act, FCCPC will apply appropriate enforcement measures,” Mr Bello said, promising that the organisation will continue to provide updates on the ongoing investigations in the aviation industry.

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Verve, Providus Bank Unveil Travel Card for Tourists, Others

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ProvidusVerve Travel Card

By Aduragbemi Omiyale

A travel card designed for tourists, business visitors, Diaspora returnees has been launched by Verve in partnership with Providus Bank.

Known as the ProvidusVerve Travel Card, the Naira-based travel card will allow inbound travellers to enjoy a smooth, secure, and convenient payment experience throughout their stay in Nigeria. It was powered by Verve’s secure.

Created to support the surge of tourists, expatriates, business visitors, conference delegates, and returning diaspora expected during the festive Detty December season, the ProvidusVerve Travel Card enables seamless payments for transportation, hotels, dining, shopping, entertainment, and everyday essentials nationwide.

The card also works on select global merchant platforms that accept Verve, including Netflix, Google Play, and other digital services, ensuring travellers enjoy uninterrupted access to familiar services.

The ProvidusVerve Travel Card eliminates the hassle of sourcing naira or converting foreign currency on arrival. It enables instant, secure transactions, reduces reliance on cash, and supports compliance with the cashless policy of the Central Bank of Nigeria (CBN).

It also mitigates the risks associated with carrying physical cash such as loss, theft, or fraud, offering a safe, regulation-aligned option for both online and in-person payments.

“The ProvidusVerve Travel Card is a timely solution for inbound travellers seeking reliability, security, and simplicity while navigating Nigeria.

“Together with Providus Bank, we have created a product that eliminates the friction traditionally associated with accessing local payments.

“Whether for tourism, business, or festive activities, this card ensures a smooth financial experience from the moment visitors land,” the Vice President for Issuing and Acquiring Management for Africa at Verve International, Mr Paul Ohakim, stated.

On his part, the Divisional Head for Product Management and Solution Delivery at Interswitch, Mr Ademola Adeniran, described the partnership as a reflection of “Verve’s commitment to designing products that respond to real user needs.”

“The ProvidusVerve Travel Card supports everyday experiences — from booking rides and hotels to shopping, streaming, and dining. It provides inbound travellers with a secure, compliant, digital-first way to experience Nigeria without financial barriers,” he added.

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