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Nigeria Settles $61.64m of $790m Trapped Foreign Airlines’ Funds

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United Airlines

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has announced the disbursement of $61.64 million to foreign airlines through various Deposit Money Banks (DMBs) as part of continued efforts to clear foreign exchange backlogs trapped in the country.

This disbursement was disclosed by the CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, in Abuja on Sunday.

She said the move aligned with the central bank’s commitment to clearing the backlog of pending matured foreign exchange in DMBs.

Additionally, Mrs Sidi-Ali mentioned that in the last three months, the CBN has successfully redeemed outstanding forward liabilities amounting to nearly $2 billion.

She said, “This underscores the CBN’s commitment to the resolution of pending obligations and a functional foreign exchange market.

“These payments signify CBN’s ongoing efforts to settle all remaining valid forward transactions, to alleviate the current pressure on the country’s exchange rate.

“It is anticipated that this initiative would provide a considerable boost to the Naira against other major world currencies and further increase investor confidence in the Nigerian economy.”

In December, the International Air Transport Association (IATA) said the total amount of international airlines’ funds trapped in Nigeria was now $790 million compared to a high of $812.2 million earlier reported in June 2022.

In July, the CBN and the National Bank of Ethiopia (NBE), swapped $100 million in blocked funds as both countries struggled with severe shortages of hard currency.

The currency deal involved swapping revenues of Ethiopian Airlines from Nigeria and earnings of Dangote Cement in Ethiopia, as the two companies struggled to repatriate profits amid forex shortages in both countries.

The arrangement was touted as a novel means for Ethiopia to access funds blocked in Nigerian banks, while Nigeria will, in return, gain access to money held up in Ethiopia.

The IATA had over recent months raised alarms over the amount owed by several countries, they also threatened to pull their services out of the country if nothing was done about the huge backlogs.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Travel/Tourism

Passengers to Enjoy Starlink Wi-Fi on Emirates’ Flagship A380

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Emirates A380 Starlink

By Aduragbemi Omiyale

Air travellers flying through Emirates will enjoy Starlink Wi-Fi onboard after the completion of the installation of the internet service on the company’s flagship A380.

The introduction of Starlink on the A380 builds on Emirates’ ongoing investment into redefining the customer journey, including one of the most ambitious retrofit programmes in aviation history.

The airline operator recently test-run this on a flight to Dubai, and it allowed passengers to enjoy seamless broadband while flying at 40,000 feet.

The Emirates A380 was one of the first commercial aircraft in the world to offer internet to its customers, with first-generation systems offering a total aircraft bandwidth of less than 1 Mbps. The installation and certification were accomplished in Newquay, UK.

With more A380s scheduled for accelerated installation throughout 2026, Emirates customers will soon enjoy a transformative leap in onboard connectivity with the ability to stream, game, browse, and work throughout their journey on personal devices.

The service will be complimentary for all customers, across all cabins, with easy sign-up and access. Future enhancements will include Live TV streaming over Starlink, initially on personal devices and later integrated into seatback screens.

So far, more than 650,000 Emirates customers have already flown on Starlink‑equipped flights, experiencing the benefits of next‑generation onboard connectivity firsthand.

As the world’s largest passenger aircraft, the A380 presents unique engineering challenges and opportunities. This industry-first Starlink configuration is designed to meet the demands of the A380’s ‘double-decker’ layout and high passenger capacity and is capable of delivering more than 2 Gbps of total aircraft bandwidth across the cabin.

Compared with the Emirates Boeing 777, the Emirates A380 features additional wireless access points and a third antenna to deliver an enhanced connectivity experience for its higher passenger capacity. Optimised inter‑deck integration supports a seamless Wi‑Fi experience, with customers able to enjoy high speeds depending on usage and device capability.

Starlink installations will soon begin at Emirates Engineering facilities in Dubai to accelerate deployment across the fleet.

Emirates is committed to bringing the best possible connectivity to its entire fleet at the earliest opportunity, with 25 Boeing 777-300ER aircraft already equipped with Starlink and the first A380 now joining service.

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Travel/Tourism

Nigeria Caps Jet Fuel Prices, Allows Airlines Buy on Credit to Avert Disruptions

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aviation fuel Jet A1

By Adedapo Adesanya

The Nigerian government is capping jet fuel prices and allowing airlines to get supplies on credit as part of efforts to avert flight ​disruptions caused by soaring fuel costs.

Reuters reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said in an internal document that aviation fuel should sell for N1,760 to N1,988 ($1.29 to $1.46) per litre in Lagos and N1,809 to ​N2,037 in Abuja, based on benchmarks from April 17 to April 23.

The decision follows ​emergency talks after airlines threatened to go on a strike, warning that jet fuel prices had jumped by more ​than 300 per cent, forcing fare increases and raising the risk of capacity cuts.

The strike was averted after the federal government met with the Airline Operators of Nigeria (AON) and other stakeholders.

President Bola Tinubu last week approved ‌30 per cent relief ⁠on airlines’ debts to aviation agencies and ordered fuel marketers, airlines and regulators to agree on a “fair” fuel price within 72 hours to prevent the sector-wide shutdown that would have impacted the country’s economy.

The talks also agreed to grant airlines a 30-day credit window to pay for fuel and ​tasked the aviation ​ministry with mediating debt ⁠disputes between operators and oil marketers, according to the document.

The NMDPRA also formed a technical committee, which recommended that fuel marketers sell ​directly to airlines within the indicated price range to cut ​costs and ⁠improve supply-chain transparency.

The committee also urged regulators to engage Dangote Petroleum Refinery and Petrochemicals over the increased premiums applied to international benchmarks used to price jet ⁠fuel.

Other recommendations ​include validating airside fuel distributors with adequate infrastructure, ​potentially reducing the number of authorised suppliers at airports, and considering jet fuel for Nigeria’s Crude-for-Naira initiative to ​limit airlines’ foreign exchange exposure. So far, the Crude-for-Naira has only been for upstream operations.

The cost of fuel has generally risen in the last two months due to the escalating war with Iran by the US and Israel, which has triggered one of the most severe energy shocks in decades. Oil prices are currently above $100 per barrel as markets react to escalating tensions and the risk of prolonged disruption.

At the centre of the crisis is the Strait of Hormuz, a chokepoint through which roughly one-fifth of global oil supply flows. With shipping constrained, the effects are cascading across the global economy, raising fuel costs, fueling inflation, and increasing the risk of economic slowdown across many economies. This is forcing airlines to raise fares, curb ⁠growth ​plans and rethink forecasts.

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US to Nigerian Travellers: Visa Overstays Not Good for Fellow Citizens

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Nigerian Travellers US Visa Overstays

By Adedapo Adesanya

The United States (US) has warned that visa overstays by Nigerian travellers could deny future opportunities for other aspiring applicants.

The United States embassy had earlier in February stated that compliance would help protect visa access for students and business travellers.

In a reminder statement posted on its official X handle on Monday, the US Mission in Nigeria advised that strengthening compliance helps protect visa access for students, business travellers, and families who travel responsibly.

“#Reminder: Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens. Strengthening compliance helps protect access for students, business travellers, and families who travel responsibly. If you are aware of visa fraud, please report it to [email protected] or [email protected],” the statement read.

Last August, the Mission also announced that all non-immigrant visa applicants must now provide details of their social media accounts from the past five years.

In a statement, the embassy said applicants are required to disclose usernames or handles from every platform used within the period when completing the DS-160 visa application form.

“Visa applicants are required to list all social media usernames or handles of every platform they have used from the last 5 years on the DS-160 visa application form. Applicants certify that the information in their visa application is true and correct before they sign and submit,” the statement read.

The mission warned that omitting such information could result in visa denial and render applicants ineligible for future visas.

The DS-160 is the standard online form required for most US non-immigrant visas, including temporary business (B-1), tourism (B-2), student visas (F and M), and work-related categories such as the H-1B.

It insisted the new rules were designed to enhance security, they come amid repeated US criticism of governments accused of clamping down on free speech online.

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