Business
NCAA Suspends 10 Private Jet Operators Over Failure To Commence Rectification Process
The Nigeria Civil Aviation Authority (NCAA) has suspended 10 private jet operators over failure to commence the recertification process.
A statement signed by NCAA’s Director, Public Affairs and Consumer Protection, Michael Achimugu, said the suspension was rooted in its Nigeria Civil Aviation Regulations 2023 Part 18.3.4 which forbids holders of Permit for Non-Commercial Flights (PNCF) from using their aircraft for carriage of passengers, cargo or mail for hire or reward which is commercial operation or charter service.The suspended operators are Azikel Dredging Nigeria Ltd, Bli-Aviation Safety Services, Ferry Aviation Developments Ltd, Matrix Energy Ltd, Marrietta Management Services Ltd, Worldwide Skypaths Services, Mattini Airline Services Ltd, Aero Lead Ltd, Sky Bird Air Ltd and Ezuma Jets Ltd.The authority also warned that engaging PNCF holders for commercial purposes is illegal.
It said, “And It will not hesitate to initiate enforcement actions against any PNCF holder found guilty of illegal operations.”
In April, the NCAA suspended three private jet operators’ permits for commercial flights.The Acting Director General of the NCAA, Chris Najomo, at the time, said the Minister of Aviation and Aerospace Development, Festus Keyamo, gave marching orders for the cessation of the use of private jets for commercial purposes in 2023 but the operators continued in such act.“Subsequently, in March 2024, the NCAA had issued a stern warning to holders of the permit for non-commercial flights, PNCF, against engaging in the carriage of passenger-cargo or mail for hire and reward,” Najomo stated.“The Authority had also deployed its officials to monitor activities of private jets at terminals across the airports in Nigeria.
“As a consequence of this heightened surveillance, no fewer than three private operators are involved in violation of the annexure provision of their PNCF and Part 9114 of the Nigeria Civil Aviation Regulations 2023.“In line with our zero tolerance for violation of regulations, the Authority has suspended the PNCF of these operators.”
The regulator had also directed that all non-commercial flight permit holders be re-evaluated on or before April 19, 2024.
“All PNCF holders will be required to submit relevant documents to the authority within the next 72 hours.“This riot act is also directed at existing Air Operator Certificate (AOC) holders, who utilise aircraft listed on their PNCF for commercial charter operations.”The regulator stressed that only aircraft listed in the Operation Specifications of the AOC were authorised to be used in the provision of such charter services.“Any of those AOC holders who wish to use the aircraft for charter operations must apply to the NCAA to delist the affected aircraft from the PNCF and include it into the AOC operations specification.”The NCAA urged the travelling public not to patronise any airline charter operator who does not hold a valid Air Operator Certificate issued by the NCAA.
Business
Cybercriminals cloning DStv, other brands to steal bank accounts across Africa
According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.
Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.
More than 100 fake websites linked to the malware campaign have been identified since August 2025.
Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.
According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.
The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.
NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.
The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.
Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.
The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.
Business
Cement price hits N16,000 per bag
The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.
• Chairman of BUA cement, Abdul Samad Rabiu (ASR)
Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.
The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.
By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.
Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.
Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.
Reinforcing steel now costs N1.15 million per tonne, up from N850,000.
Business
Naira Exchange Rates Friday, August 21
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,405 Sell ₦1,410
Great British Pound(GBP) Buy ₦1,890 Sell: ₦1,915
EURO (EUR) Buy ₦1,590 Sell ₦1,610
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90Ghana CEDI (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,374.63
Great British Pound (GBP) ₦1,838.70
EURO (EUR) ₦1,574.97
Swiss Franc (CHF) ₦1,687.70
Chinese Yuan (CNY) ₦200.42
Japanese Yen (Yen) ₦8.49
West African CFA (XOF) ₦2.37
West African Unit Account (WAUA) ₦1,848.41
Saudi Riyal (SAR) ₦358.91
South African Rand (ZAR) ₦83.35
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