Connect with us

Nigeria News (Standard)

Air Peace Chairman Urges Tinubu to Address Multiple Aviation Levies Threatening Airlines’ Survival

Onyema calls for presidential review committee as airlines battle rising fuel costs and regulatory charges

Published

3 hours ago

on

Onyema calls for presidential review committee as airlines battle rising fuel costs and regulatory charges

Indigenous airlines in Nigeria have intensified appeals for urgent intervention by President Bola Tinubu, as operators warn that excessive taxes and charges are threatening the viability of the nation’s aviation sector. The demand was made in Lagos on Monday by Allen Onyema, Chairman of Air Peace and Vice President of Airline Operators of Nigeria (AON), who said local carriers are struggling under a growing burden of operating costs.

Onyema, speaking during an interview, urged President Tinubu to set up a special aviation review committee to examine the various levies imposed by government agencies on domestic airline operations. He stated that airlines are currently facing unprecedented economic pressures, with surging aviation fuel prices, high interest rates from financial institutions, and multiple regulatory charges adding to their woes.

Industry stakeholders say the situation has become critical as at June 2026, with many domestic airlines warning they may be forced to halt operations or cut routes unless urgent measures are taken. According to Onyema, “We need government intervention now more than ever. The survival of indigenous airlines is at stake due to multiple taxation and rising costs.”

The call for relief comes amid ongoing efforts by the aviation sector to recover from the combined impact of naira depreciation, inflationary pressures, and global increases in jet fuel prices. Nigerian airlines have repeatedly highlighted that they pay several overlapping charges to different government bodies — a situation they argue is not sustainable given current market realities.

Onyema suggested that a presidentially-led committee would help identify unnecessary levies and recommend policy changes that could lower costs for operators while improving safety and service delivery. As at press time, there has been no official response from the Presidency or Ministry of Aviation regarding the proposal. However, industry observers note that any reforms could have significant implications for job creation, consumer fares, and Nigeria’s ability to develop a globally competitive aviation industry.

Source: https://guardian.ng/news/nigerian-airlines-seek-tinubus-intervention-over-multiple-taxes-charges/

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Nigeria News (Standard)

Yobe Police Arrest Two for Alleged Killing of Newborn, Recover Evidence in Damaturu

Command condemns spike in abandoned babies; pledges prosecution as investigation continues into Anguwar Boka incident

Published

2 hours ago

on

June 24, 2026

By

Command condemns spike in abandoned babies; pledges prosecution as investigation continues into Anguwar Boka incident

The Yobe State Police Command has arrested two suspects in connection with the alleged killing of a day-old baby and other offences in Damaturu, the state capital. The incident reportedly took place on 23 June 2026, prompting an immediate response from the Violent Crime Response Unit following a distress call from residents of Anguwar Boka area.

According to a statement released by Police Public Relations Officer, SP Dungus Abdulkarim, preliminary investigations revealed that a female suspect who had recently given birth was allegedly involved in strangling the newborn baby girl. The remains were subsequently concealed in a box and abandoned behind a mosque in the neighbourhood. Police operatives recovered the body and commenced further investigation.

The command expressed concern over the rising cases of abandoned newborns and reiterated that every child is entitled to protection, care, and dignity under Nigerian law. “Anyone found guilty of violating children’s rights will face the full weight of the law,” Abdulkarim stated.

Community members have expressed shock at the incident, calling on authorities to intensify public enlightenment on child protection and maternal support services. Meanwhile, police say efforts are ongoing to unravel all circumstances surrounding the case and any possible accomplices.

The Yobe State Police Command assured that both suspects are currently in custody and will be charged to court upon completion of investigations. Authorities also urged residents to promptly report suspicious activities and stressed their commitment to safeguarding vulnerable persons across the state.

Source: https://guardian.ng/news/nigeria/metro/police-arrest-two-over-alleged-infanticide-other-offences-in-yobe/

Continue Reading

Nigeria News (Standard)

CBN Governor Cardoso Flags ₦5.19trn Cash Hoarding Despite Push for Digital Payments

Currency held outside banks rises by ₦109bn in May as over 91% of naira circulation remains informal

Published

2 hours ago

on

June 24, 2026

By

Currency held outside banks rises by ₦109bn in May as over 91% of naira circulation remains informal

Currency hoarding outside Nigeria’s banking sector has reached a new high of ₦5.19 trillion as at May, according to latest data released by the Central Bank of Nigeria (CBN). The figures, announced by CBN Governor Olayemi Cardoso in Abuja on Monday, highlight a growing challenge for financial authorities pushing to shift economic activity onto digital platforms.

CBN’s updated Money and Credit Statistics revealed that the amount of cash held outside banks rose by ₦109.34 billion from April’s level of ₦5.08 trillion. Compared to May last year, this represents an increase of ₦559.16 billion, up from ₦4.63 trillion previously recorded. The apex bank stated that 91.27 percent of all currency in circulation was now outside the formal banking system, up from 90.03 percent a month earlier.

This trend comes at a time when government and financial institutions are intensifying efforts to promote cashless transactions through bank transfers, mobile money, agent banking and fintech platforms. However, the bulk of Nigeria’s naira supply continues to circulate within households, businesses and informal markets rather than being deposited in banks or channelled through digital payment systems.

Experts say persistent cash hoarding could undermine policy initiatives aimed at curbing inflation and improving transparency in financial transactions. The CBN has repeatedly urged Nigerians to embrace electronic payment options to reduce reliance on physical currency, citing benefits such as improved security and efficiency in commerce.

While the CBN continues its advocacy for a cashless economy, analysts note that building trust in digital payments and expanding access—especially in rural communities—remain critical to reducing high levels of cash held outside banks.

Source: https://guardian.ng/business-services/cash-hoarding-hits-n5-19tr-amid-aggressive-digital-payment-push/

Continue Reading

Nigeria News (Standard)

US Sanctions Lagos BDC Operator and Firms Over Alleged Terrorism Financing

Action targets financial network in Lagos; Nigerian government yet to issue official response to US Treasury measures

Published

2 hours ago

on

June 24, 2026

By

Action targets financial network in Lagos; Nigerian government yet to issue official response to US Treasury measures

The United States government has announced sanctions against a Bureau de Change (BDC) operator based in Lagos, along with several associated firms, citing allegations of financing terrorism. The development was made public on Wednesday, 24 June 2026, as part of a broader effort by the US Treasury to disrupt financial networks suspected of aiding terrorist activities.

According to the US authorities, the sanctioned entities are accused of facilitating transactions that support terrorist organisations. The names of the affected operator and companies were not immediately disclosed in the available information. The US Treasury stated that these measures are intended to curtail the flow of funds used for extremist operations both within and outside Nigeria.

Sanctions of this nature carry significant implications for Nigeria’s financial services sector, especially as BDC operators remain a critical part of the foreign exchange market. In recent years, international partners have repeatedly raised concerns over illicit financial flows through informal channels in the country. The latest action signals increased scrutiny on how money is moved within and beyond Nigeria’s borders.

As at press time, the Nigerian government has not issued an official statement addressing the US sanctions or outlining any local investigations into the matter. Security and finance experts have called for enhanced regulatory oversight and closer cooperation between Nigerian authorities and international counterparts to prevent abuse of financial systems.

The impact of these sanctions is expected to affect access to foreign exchange for some businesses operating in Lagos and could prompt further compliance checks on other BDC operators nationwide. Stakeholders await further clarification from both Nigerian regulators and the US government regarding next steps and any potential legal proceedings.

Source: https://www.premiumtimesng.com/news/headlines/890178-us-sanctions-lagos-based-bdc-operator-firms-over-alleged-terrorism-financing.html

Continue Reading