News

Tension As FG Strips FAAN, NCAA, NAMA Of Revenue Collection Powers

Published

10 months ago

July 7, 2025

Editor

Nigeria Revenue Service (Establishment) Bill has sent shockwaves through the aviation industry, with the Federal Airports Authority of Nigeria (FAAN), the Nigerian Civil Aviation Authority (NCAA), and the Nigerian Airspace Management Agency (NAMA) among the 63 Ministries, Departments, and Agencies (MDAs) that will have their revenue collection powers transferred to the Nigeria Revenue Service (NRS).

This move will significantly impact the operations of these agencies, as they will forthwith rely on federal allocations for funding, rather than generating revenue independently.

Should the plan be effectively carried out, the bill could bring improved revenue transparency, enhanced accountability, and increased efficiency, as a single revenue collection agency could streamline processes and reduce duplication of efforts.

However, industry experts have raised concerns about the potential implications of this bill.

Reacting, a retired top management staff who preferred anonymity said: “I think this will create very serious revenue challenges for NCAA, FAAN, and NAMA,” stressing that; “in my opinion, Federal Ministry of Aviation and Aerospace Development (FMA & AD) will need to get a couple of consultants to study the newly created NRS act and see how this will not impact these agencies negatively.”

But Rtd Group Capt. John Ojikutu, airport security expert, thinks differently; stating: “I don’t think so. First with FAAN, they have to do what the Commercialisation, Privatisation and Concession Act of 2000 says. Government will make more money than FAAN is reporting.”

He added that NAMA needs help, which can only come from the sharing of the 5 per cent ticket sales charge, cargo sales charge, and chartered flights charge, which are not rationally shared.

Capt Samuel Caulcrick, a financial analyst, echoed similar sentiments, highlighting the potential innovation that NCAA could adopt to mitigate the challenges.

“The present system has put both statutory charges paid by aviation operators and cost recoveries meant for personnel into one bowl,” he explained.

He further stated that: “The idea of such being paid through the NCAA accounts was to mitigate corruption by limiting money exchanges between operators and NCAA personnel.”

He suggested that NCAA could exclude non-statutory expenditures from being paid to the NRS, ensuring that only statutory charges are affected.

The implications of this bill are far-reaching, and stakeholders will be watching closely to see how the affected agencies adapt to their new funding model.

While the bill’s intentions may be to improve revenue transparency and accountability, its implementation could have unintended consequences, such as delays in fund allocation, inadequate funding, and loss of autonomy, which could hinder the ability of these agencies to respond to emerging challenges and deliver services effectively.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

51 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

1 hour ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.