Business Archives - Page 7 of 103

Source: How pressure from Finance Ministry caused FAAN’s cashless policy setback

Posted on March 5, 2026March 5, 2026 by Wole Shadare

The pressure from the Ministry of Finance, through a memo to the Federal Airports Authority of Nigeria (FAAN), for a March 1, 2026, deadline, without adequate preparation and infrastructure for the cashless policy at the two major airports in Lagos and Abuja, has been attributed to a catastrophic failure of the entire process. A source who was privy to the memo between the office of the Ministry of Finance but who pleaded anonymity because he…

Cashless policy: Failed electronic transfers persist, users frustrated, FAAN works on solution to crisis

Posted on March 2, 2026March 2, 2026 by Wole Shadare

Minister apologises, assures policy success Why contactless payments are faster-FAAN MD Travellers lament delays, bottlenecks For decades, the sound of the Nigerian airport experience was defined by the clinking of coins and the rustling of naira notes at toll gates. But as of March 1, 2026, that sound has been replaced by the digital beep of scanners and, more recently, the frustrated honking…

FCCPC Uncovers Price Manipulation By Airlines During 2025 Festive Season

Posted on February 26, 2026February 26, 2026 by Wole Shadare

Carriers to face heavy fines over exploitative fares The Federal Competition and Consumer Protection Commission (FCCPC) released an interim report on February 26, 2026, uncovering significant patterns of price manipulation by domestic airlines during the December 2025 festive season. While the Commission has not yet issued the final fines, it has established a legal basis for significant penalties under the FCCPA 2018. The investigation, led by Executive Vice Chairman Tunji Bello, concluded that while demand…

Aviation Minister Presents ₦184.39BN 2026 Budget Proposal To N’Assembly

Posted on February 26, 2026February 26, 2026 by Wole Shadare

The Minister of Aviation and Aerospace Development, Festus Keyamo, has presented the sum of ₦184,392,160,433.00 as the Ministry’s proposed 2026 budget to the joint Senate and House of Representatives Committees on Aviation. Presenting the proposal at the National Assembly, the Minister expressed appreciation to the Committees for their unwavering support and cooperation since the current administration’s inception. He reiterated the Ministry’s commitment to sustaining a strong partnership with the National Assembly in advancing the growth…

United moves to stop United Nigeria’s US launch, over trademark concerns, others

Posted on February 26, 2026February 26, 2026 by Wole Shadare

Chicago-based carrier filed objection notice Feb 25 In a significant move that highlights the competitive tensions of the Lagos–New York route, United Airlines has formally petitioned the U.S. Department of Transportation (DOT) to block United Nigeria Airlines from launching flights to the United States. The Chicago-based carrier filed its objection on February 25, 2026, shortly after United Nigeria Airlines (UNA) announced ambitious plans to begin direct services from Lagos to New York by the end of the second quarter…

‘Many African airports operate 50% less capacity’

Posted on February 23, 2026February 23, 2026 by Wole Shadare

Attributes poor performance to high charges Senior Lecturer at Digital Marketing and Tourism at the University of Bedfordshire, Dr Augusta Evans, has stated that many of Africa’s airports are operating less than 50% of their total capacity. This, she said, is contained in the 2022 report of the International Civil Aviation Organisation (ICAO). This significant underutilisation, she said, is driven by several interconnected factors that hinder the growth of the continent’s aviation sector. ICAO, she…

South African Airways Deepens Travel Trade Collaboration through Strategic Engagement

Posted on February 20, 2026February 20, 2026 by Wole Shadare

In an effort to boost the knowledge of its trade partners and equip them with the requisite skills to take advantage of the many offers available to their customers, South African Airways (SAA) held an Agents Networking Forum for its top-performing agents at the Radisson Blu Hotel, GRA, Ikeja. The Airline set the tone for the day by holding a raffle draw and presenting Shopping Gift Vouchers to lucky winners in appreciation of their support…

Kuku mandates cash transaction cessation nationwide, gives Feb 28 deadline

Posted on February 19, 2026February 19, 2026 by Wole Shadare

Abolishes physical cash receipt The Federal Airports Authority of Nigeria (FAAN) has taken a definitive step toward modernising its revenue collection, with Managing Director Mrs Olubunmi Kuku mandating a total cessation of cash transactions nationwide by February 28, 2026. This move is not just a localised initiative but a direct alignment with the Federal Government’s broader fiscal reforms, specifically the “No Physical Cash Receipt Policy” reinforced by the Office of the Accountant-General of the…

Overland in significant milestone, achieves ISO 9001:2015

Posted on February 18, 2026 by Wole Shadare

This is a significant milestone for Overland Airways. Achieving the ISO 9001:2015 certification is a clear signal to the industry that they are tightening their grip on operational standards and Quality Management Systems (QMS). For a carrier that has carved out a niche in Nigeria’s untravelled routes—connecting secondary airports to hubs—this certification serves as a formal validation of their internal processes. ISO 9001:2015 is globally recognised. It ensures that the airline isn’t just providing good…

Lack of transit facilities greatest barrier to becoming global player-Okonkwo

Posted on February 16, 2026February 16, 2026 by Wole Shadare

Lack of transit facilities greatest barrier to becoming global player-Okonkwo · FAAN plans facilities in new terminal project United Nigeria Airlines chairman, Prof. Obiora Okonkwo, has stated that the lack of transit facilities is the single greatest barrier to becoming a global player. Without these facilities, Nigerian airports are effectively dead ends rather than the regional hubs they are geographically positioned to be. Okonkwo emphasised that flying long-haul to London or New York is nearly impossible to…

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