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Release $717.4m trapped funds to foreign airlines, Senate Urges CBN

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The central Bank of Nigeria on Wednesday has been asked to release trapped $717,478,606 airlines funds in the country.

The Senate made the call to CBN while also allocating the sum of $25 million to airlines operating in Nigeria at its fourth-nightly dollar auction.

These resolutions were reached sequel to the consideration of a motion titled, ‘Current Issues on airlines blocked funds in Nigeria’, sponsored by Sen. Biodun Olujimi (PDP-Ekiti) at the plenary in Abuja and chaired by the Senate Committee on Aviation.

The vice chairman of the committee, Sen. Bala Na’Allah (APC-Kebbi) presented the motion on behalf of Olujimi.

The upper chamber of the National Assembly also called on the Federal Government to urgently reverse the current trend of increasing airlines blocked funds in Nigeria.

It called on President Muhammadu Buhari to direct the CBN Governor, Godwin Emefiele, to pay up the blocked funds to the affected airlines.

The Senate further appealed to the airlines operating in the country not to withdraw their services, saying efforts were ongoing to resolve the issue.

Moving the motion, Na’Allah said since January 2021, Nigeria has been the most challenging country in the world for the airlines to repatriate their funds to support their operation.

In February, Nigeria alone accounted for 44 per cent of total airlines blocked funds in the entire world.

The total airlines blocked funds in Nigeria as of March amounted to $717.4 million comprising matured bids that the CBN was yet to deliver, bids yet to mature, and cash balances in airlines’ accounts for repatriation.

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President Tinubu Cheers US, Nigerian troops elimination of ISIS top leaders, Lauds Trump (Video)

“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.

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President Bola Tinubu, strengthened by the US military Command vows more decisive strikes against all terrorist enclaves across the nation.

President Tinubu was reacting to Saturday’s overnight successful joint counterterrorism operation carried out by Nigerian and United States forces against an Islamic State hideout in the Lake Chad Basin which resulted in the elimination of a wanted Islamic State senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, alongside several of his lieutenants.

In a State House statement issued on Saturday by Bayo Onanuga, the president’s aide, Tinubu said “Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.

The president stated that early assessments confirmed that the strike targeted the terrorist leader’s compound in the Lake Chad Basin.

Tinubu however expressed appreciation to the United States for supporting Nigeria’s counterterrorism efforts and advancing shared security objectives.

The president also thanked Donald Trump for what he described as leadership and unwavering support in the operation, saying, “I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort.”

He further commended military personnel from both countries for their professionalism and courage during the operation.

“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.

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Many Trapped in Abuja Collapsed Building , 3 Dead (Video)

Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.

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Tragedy struck in the Durumi 3 area near Gudu Market, Abuja, after a three-storey building under construction collapsed on Saturday moring leaving at least three persons dead.

Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.

Three bodies had been evacuated as of the time of filing this report, while rescue efforts were still ongoing to save other victims trapped beneath the rubble.

Officials and emergency responders were seen at the scene carrying out search-and-rescue operations as anxious residents gathered around the area.

The cause of the collapse is yet to be officially confirmed at the time of this report.

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President Tinubu returns to Lagos ahead of APC primaries tomorrow (Video)

Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.

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• President Tinubu chats with African business leaders during the African CEO Forum in Nairobi, Kenya.

President Bola Tinubu on Friday arrived in Lagos after a three-nation visit to France, Kenya and Rwanda.

Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.

A statement issued by his special adviser on information and strategy, Bayo Onanuga, said that the president was received by Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor, Femi Hamzat; Chief of Staff to the President, Femi Gbajabiamila; Speaker of the Lagos State House of Assembly, Mudashiru Obasa; and other government officials.

President Tinubu, while in France, met with global investors, emphasising transparency and fiscal discipline and explaining the rationale for the swift implementation of the bold economic reforms his administration has instituted.

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