Economy
Aviation authority decries flight cancellations
The acting Director General of the Nigeria Civil Aviation Authority, Chris Najomo, has expressed concern over the increasing rate of flight cancellations, saying not less than 190 flights were canceled within two months.
Najomo stated this while delivering his speech at the Airlines-NCAA engagement over the spate of flight disruptions in the country on Friday.
He disclosed that out of 5,291 flights operated in September 2024; 2,434 were delayed while 79 were cancelled.
The acting DG added that out of 5,513 flights operated in October 2024, 2791 were delayed while 111 flights were also cancelled.
He said, “Delays and cancellations are sometimes inevitable, but poor management of these disruptions is not. It is the responsibility of airlines to ensure that every disruption, whether due to operational, technical, or weather-related challenges, is handled with the utmost professionalism and regard for passengers’ rights.
“Our flight operations data record indicates that in September 2024, five thousand two hundred and ninety-one domestic flights were operated with 2,434 delays and 79 cancellations.
In October 2024 5513 flights were operated with 2,791 delays and 111 cancellations recorded.
“We must remind all operators of the NCAA Regulations on Passenger Rights during disruptions, as outlined in the Nigeria Civil Aviation (Consumer Protection) Regulations, 2023. These regulations are not optional; they are mandatory obligations.”
Speaking at the sideline of the event, Najomo also stated that he had been receiving phone calls from the presidency and members of the National Assembly over the unruly behaviours of passengers at the airport, mostly occasioned by flight disruptions/ cancellations, describing such as an embarrassment to Nigeria.
This was as the NCAA boss insisted that no stone would be left unturned in tackling the menace and restoring the sanctity of the Nigerian airports.
While asking the airlines to tidy their end of the air transport bargains, Najomo promised to meet with the Federal Airport Authority of Nigeria after which a fresh decisive decision on how to better tackle the development would be made.
He said, “The unruly behaviour of some passengers is fast becoming very disturbing, I am getting calls from the presidency and even the National Assembly. This unruly behavior is not good for our image as a country and we are resolute in putting a stop to it.
The aviation regulator who understood that flight cancellations and disruptions were mainly responsible for the unruly behaviours of passengers at the airports insisted that violence should, however, not be the next resolution.
Also expressing her dissatisfaction with the trend of unruly behaviours, the Managing Director of the FAAN, Olubunmi Kuku, said the agency was disturbed about the development at the airports.
Kuku said, “I have continued to harp on communication and engagement with the NCAA, FAAN, and the Airline Operators of Nigeria. I have also enjoined operators to ensure that they provide us with the right information.
“We have continued to tell the passengers to ensure that they provide their email addresses to the airlines so they can get information but if you do act like a criminal within the terminal building, you would be treated as one. We understand the plight of passengers but to start behaving in a manner that is demeaning to airline staff or the airport, we would prosecute or even put you on a no-flight list.”
The Nigerian Naira displayed a slight softening against the US Dollar in the early trading hours of Thursday, April 23, 2026, across both the official and parallel foreign exchange markets. Financial analysts are keeping a close eye on the market as mid-week demand for the greenback continues to influence rate stability.
In the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading day with a modest depreciation.
According to real-time data from the FMDQ Securities Exchange, the Naira is currently trading at an average of 1,351.59 NGN per 1 USD. This represents a marginal decline compared to the opening rates observed earlier in the week, where the currency had seen support near the 1,347 NGN level.
Market turnover at the official window remains a key point of focus for investors, as the Central Bank of Nigeria (CBN) maintains its policy of managed float to curb excessive volatility while ensuring essential sectors have access to foreign currency.
Parallel Market Trends
The informal or parallel market continues to trade at a significant premium compared to the official rate. Early morning reports from Bureau De Change (BDC) operators in major hubs such as Lagos (Ikeja and Broad Street), Abuja (Wuse Zone 4), and Kano suggest that the Dollar is being exchanged at rates ranging between 1,465 NGN and 1,480 NGN.
The spread between the NFEM and the parallel market currently sits at approximately 113 Naira, a gap that experts attribute to the unmet demand from small-scale importers and individuals seeking personal travel allowances (PTA) who often find the official channels more stringent.
Economic Factors and Outlook
The current pressure on the Naira is largely attributed to sustained demand for the Dollar to fund international trade obligations and service foreign debt. Additionally, the recent fluctuations in global oil prices—Nigeria’s primary source of foreign exchange—continue to dictate the strength of the nation’s external reserves.
As the trading session progresses into the afternoon, participants expect the rate to stabilize, though any significant intervention from the apex bank or shifts in market liquidity could alter the closing figures for the day. Market watchers are advised to monitor official closing reports for a comprehensive view of the day’s performance.
The Federation Account Allocation Committee (FAAC), has shared N2.036 trillion among the Federal Government, states and the Local Government Councils (LGCs).
The revenue was shared at the April meeting of FAAC in Abuja.
The N2.036 trillion total distributable revenue comprised statutory revenue of N1.320 trillion, Value Added Tax (VAT) revenue of N515.391 billion and Agumentation of N200 billion.
A communiqué issued by FAAC indicated that total gross revenue of N2.364 trillion was available in the month of March.
It said that total deduction for cost of collection was N81.084 billion, while total transfers, refunds and savings was N246.872 billion and Agumentation of N200 billion.
The communiqué said gross statutory revenue of N1.699 trillion was received for the month of March 2026.
This is higher than the sum of N1.561 trillion received in the preceding month by N137.914 billion.
“Gross revenue of N664.425 billion was available from VAT in March 2026.
“This was lower than the N668.450 billion available in the month of February 2026 by N4.025 billion,” it said.
The communiqué said from the N2.036 trillion total distributable revenue, the Federal Government received total sum of N789.159 billion and the state governments received total sum of N657.596 billion.
It said that the LGs received N468.826 billion, while the sum of N120.759 billion (13 per cent of mineral revenue) was shared to the benefiting State as derivation revenue.
“On the N1.320 trillion distributable statutory revenue, the Federal Government received N632.260 billion and the state governments received N320.691 billion.
“The LGs received N247.239 billion and the sum of N120.759 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue,” it said.
It said that from the N515.391 billion distributable VAT revenue, the Federal Government received N51.539 billion, the state governments received N283.465 billion and the LGs received N180.387 billion.
It said that from the N200 billion Augmentation, the Federal Government received N105.360 big government received N53.440 billion, and the LGs received N41.200 billion.
It said that in March, Companies income Tax (CIT), CGT, SDT and Excise Duty increased significantly.
It said that Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty and CET decreased considerably, while VAT decreased marginally.
(NAN)
The Black Market Dollar-to-Naira Exchange Rate for 20th April 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 20th April 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Monday 20th April, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1348
Lowest Rate ₦1340
Disclaimer:NEWSRAIN NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the FMDQOTC website. Parallel market rates (black market rates) are obtained from various sources, including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.
See Dollar to Naira exchange rate today, April 23, 2026
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