Business
‘We’re Working To Settle Nigeria, UAE Flight Row’ – Speaker
Speaker of House of Representatives, Hon Femi Gbajabiamila, on Tuesday, held a meeting with the Ministers of Aviation, Senator Hadi Sirika, Foreign Affairs, Chief Onyema Ugochukwu and his junior over the flight ban between the United Arab Emirates (UAE) and Nigeria.
The meeting which was at the instance of the Speaker lasted for three hours behind close doors at the National Assembly complex in Abuja.
The meeting, the Speaker later told journalists was to find solution to the impasse between Nigeria and the United Arab Emirate which noted was robustly discussed.
He described the diplomatic relationship between Nigeria and the United Arab Emirate as crucial that should not be allowed to collapse.
“The United Arab Emirates has a long standing relationship between Nigeria and it should not be allowed to collapse as both countries stands to benefit much more economically.”
Also present at the meeting were representatives of Emirates Airline, the Chairman/CEO of Air Peace, Allen Onyema, and heads of agencies in the aviation sector.
The Speaker explained that steps taken to address the issues and that “in the next couple of days, this matter will be sealed, I believe. We’re engaged in parliamentary diplomacy. That’s what we’re doing.
“We’re not going to allow this to mar the giant strides made between the two countries.”
The Speaker noted that the UAE Government had already written Air Peace to allow the airline to operate seven slots of flights.
READ ALSO: UAE Makes U-turn, Accepts Nigerian Passengers
He commended the two ministers for their efforts in resolving the issues even as he appreciated Nigerians for their sacrifices and for standing by the Nigerian Government on the face-off.
On his part, the Minister of Foreign Affairs, Geoffrey Onyema, said the meeting under Gbajabiamila’s leadership was a fruitful one, noting that the action pointed to the relevance of Executive-Legislative engagements.
He said they were hopeful that all the issues would be resolved in no distant future.
Business
CBN Retains Interest Rate At 27%
The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the benchmark interest rate at 27 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday following the apex bank’s 303rd MPC meeting in Abuja.
Cardoso stated that the committee also resolved to keep all other monetary policy indicators unchanged.
READ ALSO:CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
He noted that the Cash Reserve Ratio (CRR) remains at 45 per cent for commercial banks and 16 per cent for merchant banks, while the 75 per cent CRR on non-TSA public sector deposits was equally maintained.
Cardoso added that the Liquidity Ratio was retained at 30 per cent, and the Standing Facilities Corridor was adjusted to +50/-450 basis points around the Monetary Policy Rate.
The decision comes as Nigeria records its seventh consecutive month of declining inflation, which eased to 16.05 per cent in September 2025.
Business
CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
The Central Bank of Nigeria, CBN, has issued a definitive directive detailing how financial holding companies should calculate their minimum paid-up capital, following weeks of confusion that delayed the release of some banks’ half-year and nine-month financial statements.
In a circular dated November 14, 2025, the apex bank acknowledged “divergent interpretations” of the term minimum paid-up capital as stated in Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies.
To eliminate ambiguity, the CBN ruled that minimum paid-up capital must be computed strictly as the par value of issued shares plus any share premium arising from their issuance.
READ ALSO:CBN Sets POS Maximum Transactions In Fresh Guidelines
“All Financial Holding Companies are required to apply this definition in computing their minimum capital requirement—without exception for subsidiaries,” the circular stated.
The regulator added that the directive takes immediate effect, noting that any previous interpretation that does not align with the new clarification “should be discontinued forthwith.”
The move is expected to calm market anxiety and provide clarity for lenders navigating ongoing regulatory capital requirements.
Business
Naira Records Massive Week-on-week Depreciation Against US Dollar
The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.
This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.
READ ALSO:
However, at the black market, currently battling with low patronage, it remained stable at N1,465, the same rate traded last week.
The development comes despite Nigeria’s foreign reserves rising by 1.25 per cent to $43.64 billion in the last week.
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