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Nigeria Customs Acquires Aircraft to Strengthen Air Operations

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The Nigeria Customs Service (NCS) has announced the acquisition of a Cessna Grand Caravan EX-208B aircraft for strengthening its surveillance activities.

Comptroller-General of Customs (CGC), Mr. Bashir Adeniyi, inspected the newly acquired aircraft on Friday in Bartlesville, Washington, USA, marking a pivotal moment for NCS’ air wing operations.

In a statement, customs’ National Public Relations Officer, NCS Abdullahi Maiwada, stated that the aircraft, registered as 5N-BAA, was set to enhance the service’s air patrol and surveillance efforts.Powered by the reliable PT6 Pratt and Whitney engine, the Cessna Grand Caravan is globally recognised for its rugged versatility, short-field take-off and landing capabilities, and ability to operate on remote airstrips—making it ideally suited for border security operations in Nigeria.

Adeniyi emphasised the importance of the acquisition, stating that the aircraft is fitted with modern Garmin G1000 Avionics cockpit system, enabling operations under day, night, and low-visibility conditions.

He said, “This aircraft will be a game-changer for the Nigeria Customs Service’s air wing. Its ability to carry 10 officers, coupled with its six-hour aerial endurance, will significantly enhance our capacity for air surveillance and border patrol.

”The aircraft is expected to play a crucial role in air patrols aimed at detecting smuggling routes, deploying armed personnel, and providing swift support for ground operations.

The CGC said, “With this aircraft, we will strengthen our air border patrol capabilities, which will not only help us intercept illegal activities but also provide quick extraction support when necessary.

”He said the aircraft’s mission aligned with President Bola Tinubu’s Renewed Hope agenda.

Adeniyi said the aircraft will also serve as a strategic asset for Nigeria Customs Technical and Hangar Services Limited, offering logistical support and revenue generation for the service.

Adeniyi underscored the cost-efficiency of the aircraft, stating that its operational costs are relatively low compared to other aircraft in its class.

He said , “This is a long-term investment for the service that not only enhances our operational efficiency but also contributes to the sustainability of our air surveillance programs.

”Aircraft Operations Coordinator and Managing Director of Nigeria Customs Technical and Hangar Services, Capt. Kuhi Mbaya, hailed the acquisition as a milestone for NCS’s aviation unit.

Mbaya said, “With this aircraft, the Nigeria Customs Service is poised to revitalise its air border patrol activities, securing our borders more effectively and improving revenue generation for both the service and the nation.

”The statement added, “The acquisition of the Cessna Grand Caravan is expected to provide significant tactical advantages to the Nigeria Customs Service, tightening border security, and sending a clear signal to economic saboteurs that the service is better equipped than ever to combat smuggling activities.”

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Business

TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year

In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.

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TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.

Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.

The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.

Moniepoint is also the only African company represented on the inaugural list.

Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.

In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.

“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.

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Business

Naira Exchange Rates, Friday September 25

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Black Market Rates

₦1382DOLLAR (USD)

₦1855POUND (GBP)

₦1545EURO (EUR)

1000 DOLLAR (CAD)

₦70 RAND (ZAR)

370DIRHAM (AED)

190YUAN (CNY)

₦100G.CEDI (GHS)

₦2350 CFA F.(XOF)

₦2250 CFA F.(XAF)

₦850 AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1328.67

POUND (GBP)₦1758.36

EURO (EUR)₦1511.63

SWISS FRANC (CHF)₦1605.45

JAPANESE YEN (JPN)₦8.38

CFA FRANC (XOF)₦2.31

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1808.03

CHINESE YUAN (CNY)₦197.92

SAUDI RIYAL (SAR)₦353.86

SOUTH AFRICAN RAND (ZAR)₦81.09

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Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline

In Kenya, Dangote and the government are ⁠due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.

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Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline ‌that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.

The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity ⁠at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.

Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline ‌and ⁠power plant, and a polypropylene packaging facility, in Ethiopia.

The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.

Developers say the infrastructure will strengthen ⁠energy security and improve supply chain resilience for the two countries, he said.

Abiy is on a visit to Djibouti and ⁠made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.

In Kenya, Dangote and the government are ⁠due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.

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