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Nigeria Air: Sirika opens up, accuses lawmaker of demanding 5% stake

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The Former minister of Aviation, Hadi Sirika has finally reacted to controversies surrounding the unveiling of the new national carrier, Nigeria Air, 48 hours before his exit.

The purported Nigeria Air was discovered to be a hired aircraft from Ethiopian Airline, repainted and rebranded in Nigeria colours.

The scam has put the country in bad light globally. However, Sirika has come out to say high powered individuals in the country also contributed in frustrating the good intention of former President Muhammadu Buhari towards the project.

He said that the Chairman of the House Committee on Aviation, Nnolim Nnaji requested for five percent share in the airline for him and his people which he turndown directing him to the stakeholders.

In an interview on AriseTV, Sirika while responding on the issue of Hon Nnaji who called Nigeria Air launch a fraud, he said: “I will respond now. I will say exactly what I told him in private when we spoke.

“Hon Nnaji asked me that I should give him 5 percent of Nigeria to carry him along with his people, and I said to him at that time, Honourable, a bidding process that has taken place, and some people won. So, I think you should go to those people and ask for the 5 percent.”

“Let’s be fair, Hon Nnaji didn’t say other members. He said he wants it for himself and his people. His people could his be his family, could be members and it could be leadership. I don’t know, but he insisted on 5 percent. I said that he should relax and approach the owners. That’s exactly what I told him.”

The former Minister also criticised Nnaji and the aviation committee for conducting what translated to a “predetermined hearing”.

‘I was a member of the House of Reps 20 years ago, and 10.”

Meanwhile, Chairman, House of Representatives Committee on Aviation, Honourable Nnolim Nnaji has denied asking for 5% equity in Nigeria Air, saying the ex-minister of Aviation, Senator Hadi Sirika, ‘is a drowning man struggling to grab anything on his way to survive the barrage of attacks he has been receiving since his controversial unveiling ceremony of the so called Nigeria Air.’

Nnaji in a statement on Sunday while responding to Sirika’s allegations, said the former Minister was not happy that he had demanded transparency and due process in all matters relating to aviation sector, especially Nigeria Air project.

He added that the House suspended further questions when the Airline Operators of Nigeria (AON) sued the Ministry and Nigeria Air to court and got injunction to stop it.

“Ordinarily l would not have bothered to reply to his allegations of my demand for 5 percent equity in Nigeria Air as he claimed during his interview on Arise Television but l believe l owe my constituents and indeed Nigerians a duty to put the records straight.

“It is on record that last year when the Minister announced Ethiopian Airlines as core investor in NigeriaAir, my committee which was also inundated with petitions from various stakeholders regarding that announcement invited the Minister and his team to furnish the committee with the details of the project.

“The committee requested for the evidence of the bid process that gave Ethiopian Airlines the award and, the full business case as prepared by the Nigerian Infrastructure Concession Regulatory Commission, (ICRC) which was supposed to spell out the details of all the investors and their equity contributions.

“Sirika at that meeting said Full Business Case was still being worked out by the ICRC and promised to make it available to the committee as soon it was ready which he failed to do before Airline Operators of Nigeria, (AON) took the Ministry to court and got injunction restraining it from going ahead with the project.”, Nnaji said.

The lawmaker, who said all enquires were suspended to avoid court contempt, added that he crossed Sirika’s path again, when issued a statement against threats of mass resignations by key personnel of the Nigeria Civil Aviation Authority, (NCAA) due to pressures from the Ministry to give waivers to Nigeria Air to enable it secure Air Operator’s Certificate, (AOC).

“Of course, we suspended our discussions and enquiries on the project the moment court got involved. Normally when a matter is before the court the parliament does not discuss it.

“However, on May 20th 2023, l received reports of threats of mass resignations by key personnel of the Nigeria Civil Aviation Authority, (NCAA) due to pressures from the Ministry to give waivers to Nigeria Air to enable it secure Air Operator’s Certificate, (AOC) so that it could take Off before the exit of the last administration of President Muhammadu Buhari.

“I quickly issued a statement warning the former Minister against subverting the authority of NCAA because of its severe consequences on the Nigeria’s air transport sector. It is also a common knowledge that the Nigerian institutional investors he mentioned as participants have all denied him.

“It is not strange that Sirika came up with this spurious allegations against my person because l remained consistent in demanding that he followed due process.

“He should not deviate from the subject matter. Let him tell Nigerians the truth about the contraption he sold to us as Nigeria Air. Nnolim Nnaji is not his problem.”, Nnaji added.

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Exchange Rates Today, Wednesday 10 June, 2026

Black Market Rates
US Dollar (USD) Buy ₦1,390 Sell ₦1,400
Great British Pound (GBP) Buy ₦1,855 Sell: ₦1, 875
EURO (EUR) Buy ₦1,000 Sell ₦1, 100

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Official CBN Exchange Rates

US Dollar (USD) ₦1,360.55

Great British Pound (GBP) ₦1,823. 00

EURO (EUR) ₦1,873.61

SWISS FRANC (CHF) ₦1,709. 02

JAPANESE YEN (JPN) ₦8.49

CHINESE YUAN (CNY) ₦200.92

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,856. 66

SAUDI RIYAL (SAR) ₦362. 38

SOUTH AFRICAN RAND (ZAR) ₦82.71

Black Market Rates

US Dollar (USD) Buy ₦1,390 Sell ₦1,400

Great British Pound (GBP) Buy ₦1,855 Sell: ₦1, 875

EURO (EUR) Buy ₦1,000 Sell ₦1, 100

South African Rand (ZAR) Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦100 Sell ₦115

West African CFA Buy ₦2,450 Sell ₦2,550

Central African CFA Buy ₦2,320 Sell 2400

Australian Dollar Buy ₦800 Sell ₦900

Credit: CBN I Aboki Forex

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Invest in Lagos 3.0 Summit Attracts more than 600 delegates

Ohibaba.com reports that the summit, themed “Lagos: The Business Gateway to Africa,” featured presentations from representatives of the Presidency and the governors of Lagos, Imo, Abia, Plateau, Taraba and Nasarawa states.

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Representatives of government and private sector delegates at the summit

Invest in Lagos 3.0 Summit attracted more than 600 delegates—including global institutions, sovereign wealth funds, development finance institutions and trade networks.

Ohibaba.com reports that the summit, themed “Lagos: The Business Gateway to Africa,” featured presentations from representatives of the Presidency and the governors of Lagos, Imo, Abia, Plateau, Taraba and Nasarawa states.

The host governor, Babajide Sanwo-Olu, called for increased private sector investment in rail transport, energy, agriculture, agro-processing and water infrastructure.

He said that addressing transportation challenges would unlock Lagos’ economic potential, reduce travel time, boost productivity and improve returns on investment.

Minister of Finance, Dr. Taiwo Oyedele, assured investors of the Federal Government’s commitment to creating a conducive business environment through ongoing fiscal reforms. He said the new tax law has eliminated multiple taxation, improved compliance and provided relief for small and medium enterprises.

Oyedele added that stamp duty collection has been transferred to state governments and commended states that have adopted harmonised tax systems.

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UBA wins 2026 ‘Banker Technology’ award for AI innovation

UBA’s recognition centres on integrating Leo, its AI-powered chatbot, with the Pan-African Payment and Settlement System (PAPSS), enabling customers to send funds across borders in local currencies via a conversational interface.

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United Bank for Africa (UBA) Plc, has been named the winner of the African category at the 2026 Banker Technology Award

In its assessment of UBA’s winning entry, The Banker noted that “the bank has cemented its status as a leading digital operator by placing technology at the centre of its growth strategy across more than 20 countries, with this approach most visible in its work on cross-border transfers, spanning digital payments, AI-driven engagement, and e-business”

UBA’s recognition centres on integrating Leo, its AI-powered chatbot, with the Pan-African Payment and Settlement System (PAPSS), enabling customers to send funds across borders in local currencies via a conversational interface.

UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, received the award on behalf of the bank.

He emphasised that the bank’s aim to fully digitise banking across the entire continent“.

” Africa’s financial future will not be built on branches or borders. It will be built on intelligence, interoperability, and trust at scale,” Lamptey said.

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