By Gloria Ikibah

Ahead of President Bola Ahmed Tinubu’s presentation of the 2025 Appropriation Bill to a joint session of the Senate and House of Representatives at 12 noon today, there is tight security at the National Assembly Complex in Abuja.

As early as 6.00 a.m., operatives of the Department of State Security (DSS) and other security agencies, including the Police, Civil Defence, Federal Road Safety Corps, and Sergeant-at-Arms, were stationed at the gates and within the premises to ensure order and safety during the event. 

Naijablitznews.com reports that staff of the National Assembly were directed to stay home, except those required for the event, who were instructed to report before 8.00 a.m., according to a memo issued by the Director of Human Resources and Staff Development. 

Senators and House members were seen arriving at the Green Chamber, where the joint session is scheduled to take place. On Tuesday, during a closed-door plenary, the House of Representatives followed the tradition of moving a motion to allow non-members into the chamber for the session. 

Naijablitznews.com recalled that the Federal Executive Council (FEC) approved an estimated expenditure of N47.96 trillion for the 2025 fiscal year during its meeting on Monday. 

Meanwhile, business activities within the National Assembly complex, including banking and food services, have been suspended following directives from the Assembly’s management. Only those on an approved list, including staff, media personnel, and members of the press corps, are allowed access after identification at the gate. 

The joint session will be presided over by Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas.

The Central Bank of Nigeria (CBN) has introduced a daily withdrawal bar of ₦100,000 for customers using point-of-sale (PoS) terminals, as part of a broader set of measures aimed at streamlining agent banking operations.

This new directive was communicated through a circular titled “Cash-out Limits for Agent Banking Transactions,” which was sent to all deposit money banks (DMBs), microfinance banks, mobile money operators, and super-agents across the country.

The CBN’s intervention seeks to address ongoing challenges in the agent banking sector, curb fraud, and establish consistent operational standards across the financial ecosystem.

The circular outlines specific guidelines for the implementation of these changes, which must be adhered to immediately:

Cash Withdrawal Limit: The withdrawal limit per customer is set at ₦500,000 per week, regardless of the channel used (such as PoS terminals or other platforms).
Daily Transaction Limit: PoS terminals are now required to impose a daily cash-out limit of ₦100,000 per customer.
Cumulative Agent Limit: The total daily cash withdrawal limit for each agent must not exceed ₦1,200,000.
Connection to PTSA: All agent terminals must be connected to a Payment Terminal Service Aggregator (PTSA).
Electronic Reporting: Agents are required to electronically report all daily transactions, including withdrawals, transaction limits, and balances in agent float accounts, to the Nigerian Interbank Settlement System (NIBSS) for onward transmission to the CBN. A template for this report will be provided to the principals of agent banks.

The CBN emphasized that principals (i.e., the financial institutions responsible for the agents) will be held fully accountable for any actions or failures related to the operation of agent banking services. This includes ensuring that all agents comply with the outlined limits and reporting requirements.

Furthermore, the apex bank warned that it would conduct unannounced checks, including back-end configuration inspections, to ensure that agents are adhering to these guidelines. The CBN also stated that any violations of the new directives would result in significant penalties, including financial and administrative sanctions.

This move is part of the CBN’s broader efforts to regulate the growing agent banking sector, enhance the security of transactions, and standardize banking practices across various service channels.

Barely two months after a Sikorsky SK76 helicopter operated by East Aviation crashed in Port Harcourt, the Nigerian Safety Investigation Bureau has disclosed that its handlers violated several of the Nigeria Civil Aviation Regulations directives.

Although the bureau was silent on whether or not the vices led to the unfortunate incident, the act shows gaps in the regulatory duties of the NCAR.

The helicopter, which was contracted by the Nigerian National Petroleum Company Limited, plunged into the Atlantic Ocean near Bonny Finima, off the coast of Calabar on October 24, with six passengers and two crew members.

Five bodies of the eight victims have been recovered while the remaining three are still yet to be found.

While reeling out the preliminary findings of the bureau on the accident, The Director-General of NSIB, Alex Badeh, on Tuesday told journalists in Abuja that the crashed helicopter was not fitted with a Flight Data Recorder, a violation of the Part 7.8.2.2(q) of Nigeria Civil Aviation Regulations (Nig. CARs) Act 2023

Badeh added that the helicopter crew members used non-standard phraseology throughout the flight.

The preliminary findings of the bureau read partly, “The helicopter was fitted with a solid-state cockpit voice recorder; The helicopter was not fitted with a Flight Data Recorder; although Part 7.8.2.2(q) of Nigeria Civil Aviation Regulations (Nig. CARs) 2023 requires that FDR shall be fitted on the helicopter; The flight crew used non-standard phraseology throughout the flight.”

The report further reads; “There were no standard callouts for the various phases of the flight; The helicopter Radio Altimeter (Rad alt) was snagged and deferred on October 18, 2024, six days before the accident; No dew point data was reported in the weather information passed to 5N-BQG on the day of the occurrence.”

While speaking on the causes of the crash, Badeh explained that the investigators discovered that it appeared to be “Struggling to gain balance right before crashing into the ocean.”

He further noted that the crew’s struggle was followed by an aural warning from the aircraft, “Bank angle, Bank angle,” which was the last recorded data on the Cockpit Voice Recorder with smoke emanating from the engine before it ditched into the water.

Other reports released by the NSIB include a final report on the serious accidents involving Beech Baron 58 aircraft operated by Nigerian College of Aviation Technology, Zaria with nationality and registration marks 5N-CAG, which occurred on runway 5 at General Hassan Usman Katsina International Airport, Kaduna on December 31, 2022 and five other incidents.

The NSIB, however, charged the NCAA to ensure strict compliance with the Nigerian Civil Aviation Regulations (Nig. CARs) 2023 part 7.8.2.2(q) which requires that all helicopters with a maximum take-off mass over 3175 kg and up to 7000 kg be fitted with a Flight Data Recorder.