The British pound reached an all-time low against the US dollar on Monday. The development is coming less than a week since the pound plummeted to $1.13 — its lowest level since 1985 — before regaining ground. The pound dropped 3.6 percent on Friday when Kwasi Kwarteng, UK’s finance minister, unveiled...
  Naira gained marginally against the U.S. dollars on Friday, appreciating 0.04 per cent a day after it fell at the spot market. But overall, the currency continued a fall that has been made worse by increasing demand for dollars. The currency opened trading at N434.83 per $1 but closed at...
  Hadi Sirika, minister of aviation, says the Nigerian Sovereign Investment Authority (NSIA) is not an investor in the Nigeria Air project. Sirika made the clarification in a statement issued by James Odaudu, his special assistant on public affairs, on Saturday. The minister had listed NSIA as part of the local investors...
  The Nigerian National Petroleum Company (NNPC) Limited says six international oil companies (IOCs) will remit N380.04 billion next month as proceeds from the sale of domestic crude oil in July 2022. The national oil company made this known in its monthly presentation to the Federation Account Allocation Committee (FAAC) meeting...
  The Nigerian National Petroleum Company (NNPC) Limited says it deducted N525.71 billion as a shortfall for the importation of petrol (subsidy) in August 2022. Subsidy or under-recovery is the underpriced sales of premium motor spirit (PMS), better known as petrol. The national oil company said this in its monthly presentation to...
  The Minister of Aviation, Hadi Sirika, disclosed on Friday that Ethiopian Airlines emerged a core investor in the Nigerian National Carrier, Nigeria Air, following a bid. Sirika, who disclosed this at a press briefing in Abuja, said Ethiopian Airlines won the bid with a consortium and would have 95 controlling...
  The Nigerian Civil Aviation Authority (NCAA) has released the Air Transport Licence (ATL) of Azman Air, one of the nation’s domestic airlines. The airline had been forced to suspend flight operation over N1.2bn debt which accrued from non-remittance of ticket sale charge and cargo sale charge (TSC/CSC) on Thursday, leaving...
  The Nigerian Civil Aviation Authority (NCAA) has confirmed the suspension of Azman Air over the inability to provide the required documents for the renewal of its air transport licence (ATL). Musa Nuhu, director-general of NCAA, said this on Thursday. On Thursday, reports emerged that the regulator suspended Azman Air’s operating certificate...
  reportedly picked Ethiopian Airlines as a technical partner and core investor for the planned national carrier, Nigeria Air. The selection, according to ThisDay, will be announced soon. A source at the ministry of aviation told ThisDay that representatives of the ministry had travelled to Addis Ababa to finalise the agreements. “Yes, we...
  Azman Air has suspended operation over the carrier’s inability to renew its Air Operators Certificate (AOC), Daily Trust gathered. The Nigerian Civil Aviation Authority (NCAA) was said to have suspended Azman for failing to meet the requirements for AOC renewal. It was also learnt that the regulatory body had given it...