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Over $700m Still Trapped In Nigeria — Foreign Airlines

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Foreign airlines have revealed that about 90 percent of their $783m trapped funds have not been paid.

The airlines made this known during a stakeholders’ forum convened by the Minister of Aviation and Aerospace Development, Festus Keyamo, in Lagos recently.

According to data from the International Air Transport Association, as of August 2023, Nigeria accounted for a substantial $783m of airlines’ blocked funds.

Despite recent efforts to alleviate the situation, the airlines said a significant portion of those funds remained inaccessible to them.

The Chairman of International Airline Operators, Mr Chima Kingsley, emphasised that while international banks had received some funds from the Central Bank of Nigeria that only accounted for a fraction, less than 10 percent of the trapped funds.

“The bulk of the blocked funds are with Nigerian commercial banks. The bulk of the money has not been paid,” he said.

President Bola Tinubu two weeks ago had promised to clear the estimated $7bn outstanding foreign exchange obligations of the Federal Government on forex forwards contracts owed to commercial banks.

CBN had started clearing the forex backlog to commercial banks to ease pressure on the foreign exchange.

The CBN had initiated steps to clear the forex backlog to ease pressure on foreign exchange, but challenges persisted in disbursing the funds effectively.

Domestic carriers, represented by the Chairman of United Nigeria Airlines, Obiora Okonkwo, highlighted their struggles, with trapped funds and limited access to forex impacting their operations.

He cited examples, including aircraft maintenance fees accumulating due to the inability to source forex for payments.

The Area Manager of West and Central Africa for IATA, Dr Samson Fatokun, underscored the need to reduce operating costs in the Nigerian aviation sector, advocating for sector-specific support.

Keyamo assured stakeholders that efforts were underway to address the forex challenge.

While the minister did not disclose the exact disbursement figures, he reiterated the government’s commitment to resolving the issue in the coming weeks, offering a glimmer of hope for the airlines grappling with financial constraints.

BIG STORY

NDLEA Arrests Famous 61-Yr-Old Lagos Fabric Merchant Alhaja Ajoke Elediye For Drug Trafficking

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Operatives of the National Drug Law Enforcement Agency (NDLEA) began the new year by arresting a wanted drug kingpin and Lagos socialite, 61-year-old Alhaja Aishat Feyisara Ajoke Elediye, on Wednesday, 1st January 2025, in her mansion at the Okota area of Lagos.

This followed the interception of a truckload of illicit drugs from her staff on the same day.

A statement released by the anti-drug agency’s spokesperson, Femi Babafemi, reveals that the suspect, known in the drug underworld as “Iya Ruka” and as Alhaja Ajoke in social circles, had her true identity concealed for years.

She had remained on the NDLEA’s wanted list for leading one of the drug cartels operating from the Mushin area of Lagos.

“The lid was, however, blown off her invincibility on Wednesday, 1st January 2025, when NDLEA operatives, acting on intelligence, intercepted a white Izuzu truck carrying 44 jumbo sacks containing 1,540 kilograms of imported cannabis, driven by one of her staff, 41-year-old Abideen Adio.

Subsequently, the operatives stormed her hideout at 33 Adebayo Oyewole Street, off Ago Palace Way, Okota, where they arrested her.”

Babafemi further stated that, on the surface, Alhaja Ajoke is a businesswoman who imports fabrics and shoes from China, but beneath that lies a vast illicit drug trade.

She is also recognized as the Iyalaje of Blessing Sisters, an influential club of society women in Lagos.

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BIG STORY

Lagos Ministry Demolishes Illegal Gatehouse After Attack On Workers [PHOTOS]

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The Lagos Ministry of Environment and Water Resources has commenced the demolition of an illegal gatehouse erected by the management of an estate on January 3, 2025.

The action follows repeated warnings from the ministry, which had earlier alerted the estate about the unlawful construction.

Sources revealed that the estate proceeded to build a soakaway system on the road immediately outside the entrance gate, despite several official warnings from the ministry.

This prompted the ministry’s task force to intervene on January 2, 2025, to dismantle the septic tank that was being constructed.

However, during the operation, workers from the ministry were reportedly attacked and locked up by the estate’s management.

In response to the harassment of its workers, the Lagos Ministry of Environment and Water Resources escalated its actions, directing the demolition of the illegal gatehouse on January 3, 2025.

The demolition is part of the ministry’s broader efforts to ensure that constructions adhere to legal and environmental standards.

Details later…

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BIG STORY

Inside Jigawa: One Dead, Groom Hospitalised As Bride Allegedly Poisons Wedding Guests

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A wedding in Jigawa State has turned tragic after a bride allegedly poisoned food served at the reception.

The incident reportedly left the groom critically ill and one of the wedding guests dead.

The incident occurred in the Jahun Local Government Area of the state.

Eyewitnesses suggested that the bride’s actions may have been driven by a personal vendetta.

Speaking on Friday, the state Police Public Relations Officer, Shi’isu Adam, confirmed the incident and stated that an investigation was underway.

“We received a report that the bride had tainted the food served at the wedding reception, leaving the groom critically ill.

“Police have arrested two suspects in connection with the alleged food poisoning incident that occurred during a wedding ceremony in the state,” Adam said.

He revealed that the two suspects are the bride and another female, adding that they are in custody and being interrogated by the Criminal Investigation Department of the command.

The police spokesperson added, “We will do everything in our power to ensure that justice is served.”

According to the police spokesman, all the wedding attendants who consumed the poisoned food have been discharged from the hospital, except for the one person who was confirmed dead.

“The command is currently investigating the circumstances surrounding the incident, and we will provide more details as soon as possible.

“For now, we can confirm that the incident occurred, and we are working tirelessly to unravel the facts. We urge the public to remain calm and assured that justice will be served,” he concluded.

The identities of the deceased, the groom, and other victims have not been disclosed by the authorities.

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