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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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ALTON Confirms Banks cleared N300bn USSD debts

The debt problem that had lingered for over four years was resolved through the intervention of the NCC under the leadership of its Executive Vice Chairman, Dr. Aminu Maida.

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The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has confirmed that Deposits Money Banks (DMBs) have paid the estimated N300 billion debts they owed telecom operators for Unstructured Supplementary Service Data (USSD) services.

ALTON Chairman, Engr. Gbenga Adebayo disclosed this yesterday during the group’s official visit to the Board Chairman of the Nigerian Communications Commission (NCC), Idris Olorunnimbe in Lagos.

According to Adebayo, paying off the debt brought to a close years of accusations and counter-accusations between the banks and telecom operators.

Adebayo said that the debt problem that had lingered for over four years was resolved through the intervention of the NCC under the leadership of its Executive Vice Chairman, Dr. Aminu Maida.

While commending the leadership of the NCC for their recent interventions including the approval of 50 percent end user tariff adjustment last year, Adebayo said the Commission has steered the ship of the sector through one of its most delicate periods.

“When Dr. Maida assumed office, he inherited significant industry challenges. One of the most difficult was the USSD debt crisis — a debt burden that grew over four years to nearly N300 billion. It had become a systemic risk to our sector and the digital financial ecosystem.

“Through firm leadership, structured engagement, and decisive coordination, Dr. Maida and his team resolved this issue.

“Today, there is no outstanding USSD debt. The ecosystem has fully migrated to end-user billing. What was once a looming crisis has been converted into a sustainable framework,” Adebayo stated.

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FAAN stops cash collection at airports nationwide

Beyond compliance with government policy, the MD/CE highlighted the enormous benefits of a cashless system to the aviation ecosystem, including reduction in leakages, improved transaction traceability, faster service delivery, and enhanced public confidence in airport operations.

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FAAN MD, Mrs Olubunmi Kuku

Federal Airports Authority of Nigeria (FAAN) will stop collecting cash across all airport payment points nationwide, effective February 28, 2026.

FAAN Managing Director, Mrs. Olubunmi Kuku, stated this during a visit by executives and members of the National Union of Air Transport Employees (NUATE), who sought clarification on the decision to discontinue cash transactions at airports.

In her address, the MD/CE emphasised that the transition to a cashless system is not only in line with global best practices in aviation management but also consistent with Federal Government’s directives aimed at enhancing transparency, accountability, and operational efficiency.

She referenced a Treasury Circular dated November 24, 2025, issued by the Office of the Accountant General of the Federation and signed by the Accountant-General, Shamseldeen Ogunjimi, mandating the cessation of cash transactions in all government dealings.

The directive followed approval by the Federal Executive Council for Ministries, Departments and Agencies (MDAs) to discontinue physical cash collections and payments as part of broader public finance reforms

“There is no going back on this decision,” she said, stressing that the cashless initiative aligns FAAN with national financial management reforms while positioning Nigeria’s airports for greater operational integrity, improved service delivery, and stronger revenue assurance.

Beyond compliance with government policy, the MD/CE highlighted the enormous benefits of a cashless system to the aviation ecosystem, including reduction in leakages, improved transaction traceability, faster service delivery, and enhanced public confidence in airport operations.

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CBN’s Cardoso Advocates cross-border payments reform at G-24 meeting

“With global remittance corridors costing over 6.0 percent, settlement lags of several days, and compliance burdens that exclude MSMEs, millions remain disconnected from global opportunity.”

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Olayemi Cardoso, governor, Central Bank of Nigeria (CBN) has called for reforming cross-border payments system , asserting that its too inefficient to support inclusive growth in developing economies.

Cardoso made the call on Thursday during the G-24 Technical Group Meetings in Abuja, warning that high costs and settlement delays are shutting millions out of global trade and finance.

” It is not merely a technical upgrade but a macroeconomic priority, as the channels through which capital, remittances and trade flow increasingly shape financial stability”,said Cardoso.

He emphasised that payment systems now sit at the heart of global economic integration and financial stability, but remain structurally biased against emerging and developing markets.

“Today, cross-border payments remain too slow, too costly, and too fragmented, especially for developing economies,” Cardoso said.

“With global remittance corridors costing over 6.0 percent, settlement lags of several days, and compliance burdens that exclude MSMEs, millions remain disconnected from global opportunity.”

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