Business

United Nigeria gets NOD for Flights to USA, UK, Netherlands, Italy, UAE, Ireland

Published

3 years ago

September 10, 2023

570 Views

The United Nigeria Airlines, one of the leading airlines in the country, has received approval for operation of international flights.

According to the Federal Ministry of Aviation and Aerospace Development’s approval, the airline would operate international flights to United States of America, United Kingdom, Netherlands, Italy, Ireland and the United Arab Emirates (UAE).

A letter dated September 8, 2023 conveying this approval from the Ministry of Aviation and Aerospace Development, signed by Director, Air Transport Management, Mr. H.T. Ejiburu, on behalf of the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, to the United Nigeria Airlines Company Limited, said the approval was in line with subsisting Bilateral Air Services Agreement (BASA) between Nigeria and each of the countries.

The letter reads: “I am directed to acknowledge receipt of your letter dated 2nd August 2023 on the above subject and convey the Honourable Minister’s approval for the designation of Messrs United Nigeria Airlines Company Limited to operate international flight operations to the undermentioned countries and cities: Netherlands (Amsterdam), Italy (Rome), United Arab Emirates (UAE) (Dubai), United Kingdom (London), United States of America (USA) (Houston) and Ireland (Dublin).

“The designation of Messrs United Nigeria Airlines Company Limited is in line with the subsisting Bilateral Air Services Agreement (BASA) between the Government of the Federal Republic of Nigeria and the governments of the six mentioned countries.

“Consequently, the airline is hereby advised to liaise with the Civil Aviation Authorities of the aforementioned countries for documentation prior to commencement of scheduled flight operations. However, you are obliged to comply with the Nigerian Civil Aviation Regulation (Nig. CARs (2023) Part 18.5.1.1 A-C by taking further steps to liaise with the Nigerian Civil Aviation Authority (NCAA) in fulfilling the requirements if necessary.

“Kindly note that the approval has been communicated to the Ministry of Foreign Affairs for its further necessary actions.”

United Nigeria Airlines, with Prof Obiora Okonkwo OFR as Chairman, started flight operations in 2021and operate scheduled flights in major Nigerian cities. The Airline had earlier obtained approval for Regional flights based on which that they are finalising arrangements to commence regional operations in couple of weeks upon arrival of their additional aircraft from middle of October.

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Business

Cardoso Urges Banks To Lend Out Idle Funds With CBN * Retains MPR at 26.5%

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

Published

5 hours ago

July 21, 2026

OCHEFA

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso , urged banks from keeping idle funds with the apex bank and encouraging increased lending into the economy.

Cardoso made the call on Tuesday after the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21.

The apex bank retained the Monetary Policy Rate (MPR), also known as benchmark interest rate, at 26. 5 percent.

This decision marks the second consecutive retention of the MPR at 26.5 per cent, following a 50-basis-point reduction in February from 27 per cent.

“The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk,” said Cardoso.

He emphasised that although headline inflation moderated marginally in June 2026, global uncertainties have heightened due mainly to the renewed hostilities in the Middle East.

The MPC also adjusted the asymmetric facilities corridor around the MPR to +50/-450 basis points—a move aimed at discouraging banks from keeping idle fund with CBN.

Furthermore, the committee maintained the Cash Reserve Ratio (CRR) for commercial banks at 45 per cent, retained the rate for merchant banks at 16 per cent, and kept the CRR on non-TSA public-sector deposits at 75 per cent for liquidity management considerations.

Cardoso said despite the global uncertainties, the Nigerian economy has “remained largely resilient to the external shocks”.

Business

CBN admits it opened domiciliary accounts for PFIPC agency

Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.

Published

14 hours ago

July 21, 2026

OCHEFA

20 Views

File photo : PFIPC agency DG, Adeniyi Adeyemi

The Central Bank of Nigeria had admitted that it opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC).

The apex bank made the confirmation, yesterday, during the public hearing convened at the National Assembly Complex by the House of Representatives Ad-hoc Committee investigating the existence and operations of the PFIPC, chaired by Yusuf Gagdi and inaugurated by Speaker Tajudeen Abbas.

He explained that on July 30, 2025, CBN received a mandate dated July 29, 2025 from the Office of the Accountant-General.

“We received the mandate to authorise two accounts, one a US dollar domiciliary account, the other a pound domiciliary account, for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council,” Ibrahim told the committee.

He explained the CBN’s verification process, “The process of opening an account requires a mandate from the Office of the Accountant-General of the Federation.

“Once we receive that mandate, we perform all the necessary verifications to confirm that this mandate is actually coming from that office.

The department that handles the mandate is different from the department that actually does the account opening,” he said.

Nevertheless, he noted that no one came to activate the accounts after they were opened.“We did not receive any correspondence, mandate, signature or mandate cards. We were not introduced to the authorising or approving officers.“Based on that, those accounts remain inactive, with zero balance. There have been no foreign exchange allocations.