Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that the country currently hosts nearly 240 private jets, establishing it as the largest business aviation market in Africa. During a strategic visit to Bombardier Incorporated in Montreal, Canada, the Minister led a delegation of senior aviation officials and private operators to discuss the potential establishment of a major aircraft maintenance and service centre in Nigeria. Keyamo noted that Nigeria currently loses significant foreign exchange weekly as private jet owners must fly their aircraft abroad for routine maintenance. By bringing such services into the country, the government aims to conserve foreign currency, create skilled jobs for Nigerians, and position the nation as a regional aviation hub. This visit concludes a series of high-level engagements with global aircraft manufacturers, including Boeing, Airbus, and Embraer, aimed at strengthening Nigeria’s aviation sector through improved technical support, fleet modernisation, and infrastructure development.....KINDLY READ THE FULL STORY HERE▶

Minister Festus Keyamo is pushing for a major aircraft maintenance facility in Nigeria to support the country’s fleet of nearly 240 private jets, the largest in Africa. Currently, the country faces significant capital flight as aircraft owners are forced to seek maintenance services overseas. The proposed collaboration with Bombardier, following similar talks with other major manufacturers, is part of a broader government agenda to modernize the nation’s aviation fleet, reduce operational costs, and foster technical capacity development. Additionally, the government continues to address regulatory challenges, such as the preference for foreign aircraft registration and concerns regarding illegal air charter operations, which prompted the establishment of a ministerial task force.

Option 3: Formal/Policy-Oriented

The Federal Government is actively pursuing strategic international partnerships to reposition Nigeria as a premier aviation hub in Africa. Minister Festus Keyamo highlighted that the rapid growth of Nigeria’s private jet fleet—which has more than doubled in five years—necessitates domestic maintenance capabilities to stem the outflow of foreign exchange. While addressing economic and regulatory issues, such as the use of foreign registration to bypass local levies, the Ministry is focused on long-term sustainability through fleet modernisation and enhanced technical support. The recent engagement with Bombardier, supported by key aviation agency heads, aligns with the Tinubu administration’s commitment to improving aviation safety, operational efficiency, and creating an enabling environment for indigenous aviation businesses.

In the ongoing ₦7.8 billion fraud trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, a prosecution witness has provided testimony regarding massive cash deposits made on his behalf.....KINDLY READ THE FULL STORY HERE▶

Key points from the testimony of the third prosecution witness, Richard Agulu, a former Zenith Bank employee, include:

• Cash Deposits: Agulu testified that he deposited billions of naira in cash on behalf of the former CBN chief, with the funds delivered to him by Emefiele’s former personal assistant, Eric Ocheme.

• Account Handling: According to the witness, the money was either deposited into accounts for Kelvito Integrated Services and Ifeabigo Integrated Services or placed in the bank’s vault, following instructions allegedly relayed through Ocheme.

• Banking Procedures: Despite the large sums, Agulu maintained that he followed standard banking procedures, noting that some clients were granted verbal waivers by senior officials to deposit large amounts of cash.

• Refusal to Name Officials: When asked to identify the senior bank officials who provided these verbal waivers, Agulu declined to provide names to avoid getting anyone in trouble.

• Additional Transactions: Agulu also testified that he supervised a transfer of ₦1.6 billion to MG Properties Limited.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on eight counts, including criminal breach of trust, conspiracy, forgery, and unlawful possession of properties allegedly linked to proceeds of crime; Emefiele has entered a plea of not guilty. Eric Ocheme, who was named in the charges, is reported to be at large. Justice Yusuf Halilu has adjourned the trial for continuation on November 3, 4, and 5, 2026.

Former Minister of Aviation, Chief Femi Fani-Kayode, has officially received his Letters of Credence for his role as Nigeria’s High Commissioner to South Africa, Lesotho, and Eswatini. Fani-Kayode announced the news on Tuesday, noting that the appointment followed the approval of the required agrément.....KINDLY READ THE FULL STORY HERE▶

The Letters of Credence were presented to him on behalf of President Bola Tinubu by the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye. Fani-Kayode stated that he is preparing to report to Pretoria to present his letters to South African President Cyril Ramaphosa and begin his diplomatic duties. Reflecting on his appointment, the former minister—who served in the aviation sector two decades ago—expressed his gratitude to President Tinubu for the trust placed in him and requested prayers for his success in this new role.