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How Nigeria Lost N120 Bn To Illegal Charter Operations-Report

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A newly released report by the Ministerial Task Force on Illegal Private Charter Operations has exposed a staggering N120 billion revenue loss for the Nigerian government over the past decade.

The losses stem from a combination of illegal charter operations, regulatory gaps, and lax enforcement by the Nigerian Civil Aviation Authority (NCAA).

Aviation Minister Festus Keyamo and reviewed, paints a picture of widespread security vulnerabilities, interagency coordination failures, and outdated policies crippling the aviation sector.

“Over the past decade, Nigeria lost an estimated N120 billion in statutory revenue from the sector due to regulatory loopholes,” the report stated.

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It further named prominent entities such as Arik Air Ltd, BUA International Limited, Dominion Air Limited, Executive Jets Services, Max Air Ltd, the Rivers State Government, Julius Berger Nig. Ltd, and Nestoil Plc as involved in charter operations.

To address the crisis, the task force recommends a series of corrective measures, including the immediate closure and overhaul of the General Aviation Terminal in Abuja to rectify critical security deficiencies.

The controversial 22-year aircraft age limit, widely seen as hindering industry growth, is also slated for repeal.

The report further calls for a significant strengthening of the NCAA’s oversight capabilities to ensure strict compliance with aviation regulations. A new licensing framework for air charter brokers is also proposed to increase transparency and accountability within the sector.

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“By implementing these measures, Nigeria can restore regulatory integrity, enhance safety, and position its aviation sector for long-term sustainability and global competitiveness,” the report concluded.

However, the task force’s findings and proposed solutions have drawn sharp criticism from aviation experts who question the government’s ability to enforce meaningful change.

John Ojikutu, aviation security expert and CEO of Centurion Security Limited, dismissed the task force’s efforts as “a waste of time,” placing the blame squarely on the NCAA’s failure to enforce existing regulations.

“Most of these charter aircraft are owned by political office holders or people who have something to do with it. It’s an indictment on the NCAA. When you’re talking about enforcement of regulation, it’s the NCAA,” Ojikutu asserted.

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He also raised serious concerns about the regulation of foreign-registered aircraft operating within Nigeria.

“Most of these charter flights are foreign-registered aircraft. Have you been able to identify them? Who brought them in? What is the regulation on foreign-registered aircraft operating in this country? In my days, they could not operate for more than three months. There were specific airports they had to go to. If you brought them in, they had to stay at the customs airport. That was the law in those days,” he explained.

Ojikutu reiterated that powerful figures are shielding illegal flights, making effective enforcement a daunting challenge. “They are being protected,” he emphasized.

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SAD! ISWAP terrorists reportedly k!ll 2 sons of Police Inspector

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Islamic State of West African Province (ISWAP) have reportedy launched a deadly attack on Buni Yadi in Gujba local government area of Yobe State, killing two children of a Police Inspector, Mallam Jibril Mohammed, setting their corpses and house on fire.

A credible intelligence source confirmed that the attack occurred in the early hours of Monday around 1am in the Shuwari Baban Layi area of the town.

One of the resident who did not want his name in print said the assailants infiltrated the town and targeted the home of Inspector Mohammed of the Nigeria Police Force (NPF) and started shooting sporadically.

Another security information confirmed that the terrorists set the house ablaze and killing two of the police officer’s children before escaping.

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LEADERSHIP gathered that upon receiving intelligence report on the attack, troops of 27 Task Force Brigade, Sector 2 Operation HADIN KAI swiftly mobilised to the scene.

However, the terrorists fled upon sighting advancing troops, abandoning their bicycles in the process. (LEADERSHIP)

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CRYPTO: Trump to Host Top Industry Leaders

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U.S. President Donald Trump will host top crypto industry leaders at the White House on Friday, marking a significant shift in the administration’s approach to digital assets.

The summit comes as the cryptocurrency sector enjoys renewed momentum following Trump’s election victory.

The event, led by Trump’s newly appointed “crypto czar,” Silicon Valley investor David Sacks, will bring together prominent figures in the space, including Gemini founders Cameron and Tyler Winklevoss. Reports suggest that Coinbase CEO Brian Armstrong and Michael Saylor, the head of Bitcoin investment firm MicroStrategy, will also be in attendance.

Trump’s engagement with the industry has been personal as well as political. In January, he launched his own “Trump” memecoin in partnership with the exchange platform World Liberty Financial, following a similar move by former First Lady Melania Trump.

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These ventures have drawn accusations of conflicts of interest.

During his campaign, the crypto community overwhelmingly backed Trump, pouring millions into his effort to unseat Joe Biden, whose administration had taken a more skeptical stance on digital currencies and imposed tighter regulations. Now, industry players are looking for policies that will accelerate crypto adoption and provide long-sought legitimacy.

The summit comes at a crucial time for the sector, which continues to grapple with the fallout from the collapse of FTX, once one of the world’s largest crypto exchanges. Its founder, Sam Bankman-Fried, was convicted of fraud and is currently serving a 25-year prison sentence.

For advocates, cryptocurrencies represent a financial revolution, offering an alternative to centralized banking and serving as a hedge against inflation and political instability. Bitcoin, the world’s most traded digital asset, is increasingly compared to gold as a store of value.

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However, critics warn that digital assets remain highly speculative and vulnerable to abuse. Law enforcement agencies have raised concerns over their potential use in money laundering, while the rise of “memecoins” – cryptocurrencies based on internet trends or celebrities rather than technical innovation – has fueled worries about market manipulation and pump-and-dump schemes.

Despite his past skepticism, Trump has now positioned himself as a champion of crypto innovation, declaring his intent to make the United States a global leader in digital finance. The upcoming summit is expected to set the tone for his administration’s policies on the industry moving forward.

The summit comes as the cryptocurrency sector enjoys renewed momentum following Trump’s election victory.

The event, led by Trump’s newly appointed “crypto czar,” Silicon Valley investor David Sacks, will bring together prominent figures in the space, including Gemini founders Cameron and Tyler Winklevoss. Reports suggest that Coinbase CEO Brian Armstrong and Michael Saylor, the head of Bitcoin investment firm MicroStrategy, will also be in attendance.

Advertisement

Trump’s engagement with the industry has been personal as well as political. In January, he launched his own “Trump” memecoin in partnership with the exchange platform World Liberty Financial, following a similar move by former First Lady Melania Trump. These ventures have drawn accusations of conflicts of interest.

During his campaign, the crypto community overwhelmingly backed Trump, pouring millions into his effort to unseat Joe Biden, whose administration had taken a more skeptical stance on digital currencies and imposed tighter regulations. Now, industry players are looking for policies that will accelerate crypto adoption and provide long-sought legitimacy.

The summit comes at a crucial time for the sector, which continues to grapple with the fallout from the collapse of FTX, once one of the world’s largest crypto exchanges. Its founder, Sam Bankman-Fried, was convicted of fraud and is currently serving a 25-year prison sentence.

For advocates, cryptocurrencies represent a financial revolution, offering an alternative to centralized banking and serving as a hedge against inflation and political instability. Bitcoin, the world’s most traded digital asset, is increasingly compared to gold as a store of value.

Advertisement

However, critics warn that digital assets remain highly speculative and vulnerable to abuse. Law enforcement agencies have raised concerns over their potential use in money laundering, while the rise of “memecoins” – cryptocurrencies based on internet trends or celebrities rather than technical innovation – has fueled worries about market manipulation and pump-and-dump schemes.

Despite his past skepticism, Trump has now positioned himself as a champion of crypto innovation, declaring his intent to make the United States a global leader in digital finance. The upcoming summit is expected to set the tone for his administration’s policies on the industry moving forward.

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Wike in Italy, to meet with Lombardy Region’s President, agribusiness investors

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Federal Capital Territory (FCT) Minister Nyesom Wike yesterday arrived Milan, Italy, ahead of official engagements with the President of Lombardy Region, Attilio Fontana.

Wike is also expected to meet with agribusiness investors in the country.

The minister’s Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, announced this in a statement in Milan.

The statement said Wike departed Abuja on Tuesday night and arrived in Milan around 4:30 a.m. yesterday. He was received by the Charge d’Affairs of the Embassy of Nigeria in Italy, Ambassador Mustapha Mohammed.

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“While in Milan, the FCT minister will hold a meeting with the President of Lombardy Region on Thursday, and also meet agribusiness investors.

“Lombardy is adjudged as the first region of Italy in terms of economic importance, with a population of about 10 million people. It is the second most populous region of the European Union (EU) and the second region of the European Union by nominal Gross Domestic Product (GDP).

“The FCT minister’s meeting with the Attilio Fontana will centre on seeking collaboration and evaluating possible prospects in the areas of Agriculture and Vocational Education, as well as strategic development partners with the Lombardy Region.

“Subsequently, Wike will meet investors in agribusiness and experts in vocational training, with a view to unlock new opportunities.

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“The FCT Mandate Secretaries for Education, Dr. Danlami Hayyo, and Mandate Secretary for Agriculture and Rural Development, Lawan Geidam, as well as the Senior Special Assistant on Administration, Dr. Udo Samuel Atang, and Senior Special Assistant on Legal and Multi-Lateral Cooperation, Benedict Daudu, accompanied the Minister on the trip,” the statement said.

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