News
$1.36bn under threat as local, foreign airlines battle over BASA equity
There is another twist to the demand of foreign airlines operating in Nigeria for their $600 million trapped in the country’s foreign exchange sourcing difficulties.
The foreign airlines collect Naira for their tickets from customers and exchange same for foreign currencies for their operations. But recently they said the they have been unable to get the exchange executed through the official foreign exchange market due to scarcity of foreign exchange resources.
However, the Airline Operators of Nigeria, AON, is now saying that the money is not trapped, advising the foreign airlines to go to the parallel market to exchange their Naira revenue.
AON maintained that the foreign airlines’ demand is not legitimate, adding that the Central Bank of Nigeria, CBN, should not be dragged into their plight, adding that there is also the option of Investors and Exchange Foreign Exchange, I&E FX window where they can access forex.
The AON noted that local airlines have the capacity and the aircraft to fly passengers from Nigeria to other countries but are being denied the opportunity by other countries.
But stakeholders also argued that 80 per cent of commercial aviation earnings come from foreign airline operations and that domestic airlines need to move their operations to international territories where they can earn huge income.
Also, an African aviation management consultancy and operational service provider based in London, Dre aviation, lamented that it is absurd forcing any member of the international aviation community to the parallel market (also known as black market) to source forex for repatriation of their profits.
BASA challenges
Meanwhile, finding indicates that with the over 95 Bi-Lateral Air Service Agreements, BASAs, with countries around the world, the country is only able to reciprocate six per cent since inception, whereas, 27 countries fly into Nigeria.
BASA is a bilateral aviation safety agreement that facilitates the technical assessment process of two signatory countries.
According to the Principal Managing Partner, Avaero, Sindy Foster, “Nigeria has signed over 95 Bilateral BASAs with countries around the world. Currently, 27 airlines fly in Nigeria. However, only Air Peace flies internationally to eight countries, with two new routes coming soon.
“For the first two years of operation the national carrier will be competing with the domestic airlines, so will not be doing anything towards implementation of BASA agreements.”
Violation of BASA
Reacting to the foreign airlines’ demand, the Chairman of United Nigeria Airlines, Obiora Okonkwo, noted that the Nigerian government has not in any way violated its BASA with the airlines.
He noted that the CBN does not regulate how much airlines sell their tickets, adding that, “They have also given a public notice that there is a scarcity of forex, and companies can go source their funds from the parallel market.
“There are many parallel markets, we do source from I& E windows, the only difference is when you have to buy from CBN, it could be coming at about N450 to $1 and in I&A window, you can negotiate and it could be sold at N650 to $1.
“If we the local operators can do that, what has anybody done to offend the BASA agreement when you are asked to go source from other places? Their money is not confiscated, nobody says they should not repatriate, but it is just simply going to other places. Why are these airlines not doing this?
“I am happy they are calling for meetings, but I hope the agenda would include how much they are selling their tickets because their ticket prices are in foreign currencies and converted to Naira.
“As long as their ticket for instance is $5,000 and the value Nigerians are paying for it is N2.5 million, which is about N450 to $1, then I have a legitimate case to say we are bound by this rate. But since they are free to fix their ticket price at a rate that would enable their business to move on, you cannot sell at the rate of N700 or N800 and come back to say you want to transmit your money at N450.
“When we talk about this, it looks like they have not been getting their money, last two weeks, there was a huge chunk of money that was made available for Emirates airlines in particular, We the AON kicked against it because we have a lot of invoices lined up in different banks.
“This forex issue is affecting everybody. Today, manufacturers go to the bank to put in an invoice of $1 million and at the end of the day they might be lucky to get $50,000.
“In a situation like this, these airlines could have a more creative way of spending their money, if there are bills they are paying in foreign currency they could negotiate with the Nigerian Civil Aviation Authority, NCAA, or other authority to give them a waiver so that they can use Naira to pay for these bills.
“If they want $400 million as at today, they can talk to about two or three banks in their country who will get them an I & E window of N700 and this will be over, if we the local operators can do that, why can’t they?
“We are watching, if CBN can give them the said amount, we will be happy because we know the money is there. We will also put up our bills which are also landing. They should also give us local operators as foreign airlines cannot be given preferential rates.”
$1.36bn under threat as local, foreign airlines battle over BASA equity
.
There is another twist to the demand of foreign airlines operating in Nigeria for their $600 million trapped in the country’s foreign exchange sourcing difficulties.
The foreign airlines collect Naira for their tickets from customers and exchange same for foreign currencies for their operations. But recently they said the they have been unable to get the exchange executed through the official foreign exchange market due to scarcity of foreign exchange resources.
However, the Airline Operators of Nigeria, AON, is now saying that the money is not trapped, advising the foreign airlines to go to the parallel market to exchange their Naira revenue.
AON maintained that the foreign airlines’ demand is not legitimate, adding that the Central Bank of Nigeria, CBN, should not be dragged into their plight, adding that there is also the option of Investors and Exchange Foreign Exchange, I&E FX window where they can access forex.
The AON noted that local airlines have the capacity and the aircraft to fly passengers from Nigeria to other countries but are being denied the opportunity by other countries.
But stakeholders also argued that 80 per cent of commercial aviation earnings come from foreign airline operations and that domestic airlines need to move their operations to international territories where they can earn huge income.
Also, an African aviation management consultancy and operational service provider based in London, Dre aviation, lamented that it is absurd forcing any member of the international aviation community to the parallel market (also known as black market) to source forex for repatriation of their profits.
BASA challenges
Meanwhile, finding indicates that with the over 95 Bi-Lateral Air Service Agreements, BASAs, with countries around the world, the country is only able to reciprocate six per cent since inception, whereas, 27 countries fly into Nigeria.
BASA is a bilateral aviation safety agreement that facilitates the technical assessment process of two signatory countries.
According to the Principal Managing Partner, Avaero, Sindy Foster, “Nigeria has signed over 95 Bilateral BASAs with countries around the world. Currently, 27 airlines fly in Nigeria. However, only Air Peace flies internationally to eight countries, with two new routes coming soon.
“For the first two years of operation the national carrier will be competing with the domestic airlines, so will not be doing anything towards implementation of BASA agreements.”
Violation of BASA
Reacting to the foreign airlines’ demand, the Chairman of United Nigeria Airlines, Obiora Okonkwo, noted that the Nigerian government has not in any way violated its BASA with the airlines.
He noted that the CBN does not regulate how much airlines sell their tickets, adding that, “They have also given a public notice that there is a scarcity of forex, and companies can go source their funds from the parallel market.
“There are many parallel markets, we do source from I& E windows, the only difference is when you have to buy from CBN, it could be coming at about N450 to $1 and in I&A window, you can negotiate and it could be sold at N650 to $1.
“If we the local operators can do that, what has anybody done to offend the BASA agreement when you are asked to go source from other places? Their money is not confiscated, nobody says they should not repatriate, but it is just simply going to other places. Why are these airlines not doing this?
“I am happy they are calling for meetings, but I hope the agenda would include how much they are selling their tickets because their ticket prices are in foreign currencies and converted to Naira.
“As long as their ticket for instance is $5,000 and the value Nigerians are paying for it is N2.5 million, which is about N450 to $1, then I have a legitimate case to say we are bound by this rate. But since they are free to fix their ticket price at a rate that would enable their business to move on, you cannot sell at the rate of N700 or N800 and come back to say you want to transmit your money at N450.
“When we talk about this, it looks like they have not been getting their money, last two weeks, there was a huge chunk of money that was made available for Emirates airlines in particular, We the AON kicked against it because we have a lot of invoices lined up in different banks.
“This forex issue is affecting everybody. Today, manufacturers go to the bank to put in an invoice of $1 million and at the end of the day they might be lucky to get $50,000.
“In a situation like this, these airlines could have a more creative way of spending their money, if there are bills they are paying in foreign currency they could negotiate with the Nigerian Civil Aviation Authority, NCAA, or other authority to give them a waiver so that they can use Naira to pay for these bills.
“If they want $400 million as at today, they can talk to about two or three banks in their country who will get them an I & E window of N700 and this will be over, if we the local operators can do that, why can’t they?
“We are watching, if CBN can give them the said amount, we will be happy because we know the money is there. We will also put up our bills which are also landing. They should also give us local operators as foreign airlines cannot be given preferential rates.”
A commotion reportedly erupted at the Independent National Electoral Commission (INEC) office in Onitsha South Local Government Area of Anambra State after some officials were accused of demanding ₦2,000 from applicants before processing voter registration and Permanent Voter Cards (PVCs).
The allegation surfaced in a video circulating on social media, which showed what appeared to be a heated confrontation between applicants and officials at the electoral commission’s office.
According to a resident who narrated the incident in the video, some INEC officials allegedly insisted that applicants pay ₦2,000 before their voter registration or PVC processing could be completed.
The situation reportedly escalated when one of the applicants challenged the alleged demand, insisting that voter registration and PVC-related services are free and should not attract any payment.
The applicant was said to have confronted the officials and attempted to record the exchange with a mobile phone, triggering a heated argument that attracted other applicants and bystanders.
Although raised voices and a commotion could be heard in the footage, the circumstances surrounding the incident could not be independently verified.
The video has since sparked reactions on social media, with many Nigerians condemning the alleged extortion and calling on INEC to investigate the incident and sanction anyone found culpable.
INEC has consistently maintained that voter registration services are free of charge. These include fresh registration, collection of PVCs, transfer of voter information, correction of personal details, and replacement of lost or damaged PVCs.
The commission has also repeatedly urged members of the public to report any cases of extortion, bribery or illegal charges involving its permanent or ad hoc staff during voter registration and PVC distribution.
As of the time of filing this report, INEC had not issued an official statement specifically addressing the allegations involving its Onitsha South Local Government Area office.
The incident comes as the electoral commission continues its nationwide Continuous Voter Registration (CVR) exercise ahead of the 2027 general elections.
INEC has also introduced an online self-service platform to enable prospective voters and existing registrants to complete several registration-related processes conveniently, while reiterating that voter registration services remain free of charge.
MainPower Electricity Distribution Limited (MEDL) has restored power supply to parts of Enugu metropolis, which witnessed darkness.
Some parts of Enugu metropolis, under the Band A tariff regime, during the weekend witnessed three consecutive days of blackout.
The Head, Communications of MainPower, Mr Emeka Ezeh, disclosed this in a statement he issued on Tuesday in Enugu.
According to him, MainPower wishes to inform its esteemed customers that power supply to the Gariki Injection Substation was successfully restored on Monday, July 20, at about 8:30p.m.
“This is following the successful resolution of a major fault involving the indoor 11kV breaker at the station.
“The fault, which occurred on Friday, July 17, affected electricity supply to customers served by the Army and Gariki 11kV feeders.
“Consequently, normal electricity supply has now been restored to all affected areas,” he said.
Ezeh appreciated residents and customers for their patience, understanding and cooperation throughout the outage.
He noted that the company remained committed to delivering safe, reliable, and improved electricity services to its customers and residents of the state.
It would be recalled that MainPower, which is a subsidiary of the Enugu Electricity Distribution Company (EEDC), is in-charge of electricity distribution in Enugu State.
By Okey Maduforo, Awka
Four herders and several cattle were killed on Tuesday when suspected gunmen attacked a cattle camp in Ifite Awka Community, Awka South Local Government Area of Anambra State.
The incident has sparked concern in Awka, the state capital, as the attackers reportedly invaded the settlement and opened fire on the herders before fleeing the scene.
The attack has also prompted the leadership of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) to appeal for calm among its members, expressing confidence that the perpetrators would be apprehended and brought to justice.
In a statement, the National Deputy Director-General of MACBAN, Gidado Siddiki, said the four deceased herders were members of the same family.
According to him, the incident occurred at the cattle camp of Alhaji Aminu Mohammed on Tuesday, July 21, 2026.
He said, “According to reports, unknown armed assailants invaded the cattle camp while the herders were peacefully engaged in their legitimate cattle-rearing activities.
“The attackers opened fire sporadically, resulting in the deaths of four herders, namely Mohammed Bujumi, Hassan Bujumi, Abubakar Bujumi and Sani Bujumi.
“Several cattle were also killed during the attack, while the assailants reportedly fled with some of the cattle carcasses towards the nearby Mgbakwu Community.”
Siddiki added that another herder, identified as Usman Iliyasu, narrowly escaped the attack.
MACBAN condemned the incident as “heinous and senseless,” calling on security agencies to immediately investigate the attack, apprehend those responsible and prosecute them.
The association also urged the Anambra State Government to take urgent steps to strengthen security and protect the lives and property of residents.
While appreciating the prompt intervention of the Joint Task Force and the state government in recovering the bodies of the victims, Siddiki appealed to MACBAN members to remain calm and avoid taking the law into their own hands.
“We urge everyone to cooperate fully with the security agencies and allow the government to carry out the necessary investigations and take appropriate action to ensure justice is served,” he said.
Confirming the attack, the Anambra State Police Public Relations Officer, SP Tochukwu Ikenga, said a police-led joint security team responded to the scene following a distress call.
He said the operatives discovered the bodies of four male victims who had suffered fatal injuries.
“Preliminary observations revealed that the victims had their hands tied and sustained multiple injuries, including machete cuts and blunt force trauma. Also, two residential huts within the settlement were set ablaze during the attack,” Ikenga said.
The police spokesperson further disclosed that four dead cows were found within the vicinity, while two other cattle had been slaughtered, with portions of their meat removed.
He added that security operatives recovered sacks containing abandoned chunks of meat a short distance from the scene.
According to Ikenga, preliminary findings indicated that the attackers were armed with sophisticated weapons, including AK-47 rifles, pump-action guns, double-barrel guns and machetes.
He said one survivor escaped unharmed and was assisting the police-led joint security team with useful information that could aid the investigation.
The Anambra State Police Command urged members of the public to remain calm and cooperate with security agencies by providing credible and timely information that could assist the ongoing investigation.
The Command said further developments would be communicated as the investigation progresses.
A former Assistant Director of the Department of State Services (DSS), Dennis Amachree, has offered a fresh account of the circumstances surrounding the death of former Nigerian military Head of State, General Sani Abacha.
Amachree claimed that Abacha died of a cardiac arrest during an intimate encounter with a female pharmacist at the Aso Rock Guest House in Abuja.
The revelation was contained in his newly published memoir, DSS @40: My Journey Behind the Shield, in which he presented what he described as the true account of Abacha’s controversial death on June 8, 1998.
Abacha, who ruled Nigeria from November 1993 until his death in office, has remained the subject of several conspiracy theories concerning the circumstances of his demise.
According to excerpts of Amachree’s memoir published by The Nation, the former DSS officer, who was then Assistant Director of Operations and Intelligence at the Lagos Command, said Abacha died at about 4:05 a.m. while in the company of a female pharmacist at the Presidential Villa.
Amachree said the woman had accompanied her elder sister, whom he described as Abacha’s girlfriend, to the Presidential Villa after the former military ruler reportedly purchased a new SUV for the sister.
He stated that shortly after the intimate encounter, the pharmacist noticed that Abacha had suddenly become motionless and unresponsive.
According to his account, she checked his pulse but could not find one. She then hurriedly dressed and requested transportation back to her hotel.
The former DSS officer said the soldier on duty, unaware of what had happened, arranged a vehicle for her.
He added that after informing her elder sister about Abacha’s condition, the pharmacist was taken to the Abuja airport, where she boarded a 7:00 a.m. Okada Air flight to Lagos.
Amachree further disclosed that Major Hamza Al-Mustapha, Abacha’s Chief Security Officer, was informed of the former Head of State’s condition at about 5:00 a.m. and immediately ordered efforts to locate the woman who had been with him.
However, by the time security operatives arrived at the Hilton Hotel in Abuja, the pharmacist had already left for Lagos.
Amachree said he later received instructions from the DSS headquarters in Abuja to locate and interrogate the woman in Lagos. She was eventually traced to Ogudu and brought to his office for questioning.
He recalled that her first words during the interrogation were: “I did not kill him, he died on top of me.”
The former intelligence officer said he obtained a detailed statement from the woman and subsequently contacted the DSS headquarters, after which she was flown back to Abuja.
Amachree maintained that the pharmacist’s account supports the conclusion that Abacha suffered a cardiac arrest during sexual intercourse.
He said the account also challenges longstanding claims that the former military ruler was poisoned or died after being entertained by foreign women.
According to Amachree, the account contained in his memoir represents what actually happened and should help end decades of speculation surrounding Abacha’s final moments.
General Sani Abacha died on June 8, 1998, after nearly five years in power. His death occurred less than a month before the death of Chief Moshood Kashimawo Olawale Abiola, widely regarded as the presumed winner of the annulled June 12, 1993 presidential election, who died in detention under the Abacha regime.
By Okey Maduforo, Awka
The proposed local government elections in Anambra State may face fresh legal hurdles as 56 serving councillors have approached the court seeking an order restraining the Anambra State Independent Electoral Commission (ANSIEC) from conducting the polls.
The councillors, who filed the suit barely one month before the scheduled election, are challenging the planned exercise on the grounds that their tenure of office has not yet expired.
Recall that the Anambra State House of Assembly recently passed an amendment to the state electoral law, limiting the tenure of elected local government chairmen, deputy chairmen and councillors to two years.
In the suit, marked No. A/261/2026, the plaintiffs joined the Attorney-General of Anambra State, the Anambra State House of Assembly and ANSIEC as the first, second and third defendants respectively.
The plaintiffs are seeking, among other reliefs, a declaration that the statutory system of local government guaranteed under Section 7(1) of the 1999 Constitution, as amended, requires a secure, stable and reasonable tenure capable of promoting effective grassroots governance.
They are also asking the court to declare Section 110(A) of the Anambra State Electoral (Amendment No. 3) Law, 2024, which limits the tenure of democratically elected local government chairmen, deputy chairmen and ward councillors to two years, inconsistent with Section 7(1) of the Constitution and therefore unconstitutional, null and void.
The plaintiffs further want the court to strike down, invalidate and expunge Section 110(4) of the Anambra State Electoral (Amendment No. 3) Law, 2024, from the state’s statute books on the grounds that it is inconsistent with the 1999 Constitution, as amended.
They are also seeking an order affirming that democratically elected local government officials are entitled to a secure four-year tenure, which they contend is in line with the tenure enjoyed by elected officials at the federal and state levels.
In addition, the councillors are asking the court to issue a perpetual injunction restraining the defendants, their agents, privies or anyone acting on their behalf from dissolving, terminating or interfering with the tenure of the elected local government councils at the expiration of two years.
They are equally seeking an order restraining ANSIEC from taking any steps, publishing election timetables or conducting any elections aimed at replacing the current elected local government officials until they complete what the plaintiffs describe as their full four-year tenure.
The suit could potentially affect the planned local government elections in the state, depending on the outcome of the legal challenge.
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