The Central Bank of Nigeria (CBN) reported at the weekend that Nigerians living overseas remitted a $19.8 billion to the country in 2022, representing a 7% increase (about $.5 billion) higher than the $19.3 billion they remitted in 2021, and about 5% of the country’s gross domestic product (GDP). These figures from the apex bank’s […]
The Federal Government has announced the approval of the concession of the Nnamdi Azikiwe International Airport, Abuja and the Mallam Aminu Kano International Airport, Kano. The approval of the two airports’ concession was part of the decisions taken at Federal Executive Council’s (FEC’s) meeting on Wednesday chaired by President Muhammadu Buhari Giving this hint during […]
With long queues of hundreds of Nigerians waiting to collect their international passports without success in its offices nationwide on daily basis, the Nigeria Immigration Service (NIS) has blamed the scarcity of booklets on the Central Bank of Nigeria’s (CBN’s) foreign exchange (FX) policy. The Comptroller-General of the Service, Mr. Idris Jere, who accused the […]
Aviation workers in the country have alerted of their plans to embark on two-day warning strike from Monday over alleged failure to implement the conditions of service agreement between their unions and some aviation agencies. The leaders of the major aviation sector unions, comprising the National Union of Air Transport Employees (NUATE), Air Transport Services […]
Travel agencies in the country have raised serious concern about foreign carriers’ upward review of exchange rates of their air fares to N551/$1 from the N444/$1 issued by the Central Bank of Nigeria (CBN) to the carriers over the past three years. The agencies pointed out that the upward review of the air travel fare […]
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has disclosed that the Federal Government will disburse $120 million to international airlines plying the Nigerian routes next Monday, October 31, to partly offset their trapped funds in the country. The governor disclosed that the decision was taken at a meeting between the leadership of […]
The Nigeria Economic Zones Association (NEZA), the umbrella body of Free Trade Zones operators and enterprises in the country, has cautioned the National Assembly and government agencies not to take actions that are inimical to attracting $25 billion Foreign Direct Investments (FDIs) yearly to the country through the Special Economic Zones’ scheme. The association’s Executive […]
The Nigerian Civil Aviation Authority (NCAA) has advised pilots, airline operators and other stakeholders in the nation’s aviation sector on the need for caution in their operations as hazardous weather associated with rainy season begins its manifestations in the airspace. The aviation sector regulator gave this charge on Tuesday in an Advisory Circular (AC) with […]
Guaranty Trust Holding Company (GTCO) Plc, one of Nigeria’s banking services provider, on Thursday announced the return of its annual Food and Drink Festival, two-year post COVID-19 pandemic, stressing the benefits of the yearly event to the nation’s economy. The Group’s Corporate Communications Team Lead, Mr. Charles Eremi, who gave this hint on Thursday during […]
The Federation of Tourism Associations of Nigeria (FTAN) has launched a TRIAC mandate to reposition the group for sustainable growth of the tourism industry. The National President, Mr. Nkereuwem Onung, who made the disclosure at the National Tourism Transportation Summit and Expo held in the Abuja on Thursday, explained that the TRIAC entailed tourism marketing, […]