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Tinubu Directs CBN To Resolve $600M In Trapped Funds

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President Bola Tinubu on Wednesday, issued a directive to the Central Bank of Nigeria (CBN) to establish a quarterly reconciliation platform with foreign airlines.

 

This initiative aims to address the substantial backlog of over $600 million in trapped funds.

 

Simultaneously, during the summit, leading aircraft manufacturer Airbus Industrie predicted a consistent five percent annual increase in Nigeria’s domestic air traffic over the next two decades.

 

However, in the midst of this positive outlook, the International Air Transport Association (IATA) voiced criticism of Nigeria for the multiple charges it imposes on airlines operating within the country.

 

Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the news of the reconciliatory meeting during the ongoing African Aviation Summit in Abuja.

 

He highlighted that this development was among the reasons for President Tinubu’s recent trip to the United Arab Emirates (UAE).

 

Furthermore, Minister Keyamo unveiled three significant roadmap projects: an aerotropolis, an Aircraft Leasing Company (ALC), and a Maintenance Repair and Overhaul (MRO) facility.

 

Additionally, he outlined five focus areas aimed at realizing Nigeria’s vision of becoming a prominent aviation hub in Africa.

 

The key areas outlined encompass infrastructure enhancement, the establishment of an Aircraft Leasing Company (ALC), the development of a Maintenance Repair and Overhaul (MRO) facility, and ensuring the availability of foreign exchange (forex).

 

Keyamo said: “The recent global events further exposed the immense contribution and importance of air transportation as a catalyst for economic development, vital engine of global socio-economic growth, one of the greatest contributors to the advancement of modern society and a key instrument for achieving the United Nations Sustainable Development Goals, SDGs.

 

“These underscore why the world was greatly impacted when international aviation was disrupted by the pandemic and other global occurrences. It is the vision of this current administration to make Nigeria the aviation hub of Africa.

 

“Government welcomes major players in aircraft leasing and head lessors to invest in Nigeria airlines to provide state of the art aircraft.”

 

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LAMATA to Begin Full Cashless Bus Fare Enforcement in Lagos from August 1

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The Lagos Metropolitan Area Transport Authority (LAMATA) has announced that it will commence full enforcement of its cashless fare payment policy across regulated public transport services in Lagos State from August 1, 2026.

The agency said commuters who continue to pay bus fares with cash, as well as transport operators who accept such payments, may face legal sanctions under existing state regulations.

SEE MORE: Ogun Students Shut Down Abeokuta-Lagos Expressway After Colleague’s Killing

Speaking during an X Space discussion on Wednesday with transport stakeholders titled “Lagos Cashless Transit: What Aug. 1 Enforcement Means to You,” LAMATA’s Head of Legal, Idris Akinola, explained that passengers using regulated public transport are required by law to pay fares through the approved electronic payment platform, the Cowry Card.

According to Akinola, both commuters and transport operators who engage in unauthorised cash transactions could be prosecuted, stressing that the enforcement drive is aimed at improving transparency, accountability and compliance within Lagos’ public transport system.

He urged transport companies to ensure their drivers and conductors strictly comply with the policy, conduct internal monitoring and cooperate with LAMATA officials during enforcement operations.

Akinola warned that violations of the relevant laws could attract severe penalties, including prison terms of up to seven years upon conviction.

Also speaking, the Managing Director of Teejay Motors, Adekunle Tajudeen, said the company had already trained its drivers and boarding officers ahead of the enforcement, directing them not to accept cash payments from passengers.

He revealed that some drivers had previously been arrested and jailed for collecting cash fares, noting that passengers also contribute to violations by insisting on paying with cash instead of using the approved electronic payment system.

To ensure uninterrupted services, Tajudeen said the company had expanded its fleet and recruited additional drivers to replace any workers found to be non-compliant.

Transport and urban mobility expert Adepoju Fawokon said previous enforcement efforts targeted mainly drivers and failed to achieve the desired results.

He argued that both passengers and transport operators involved in cash transactions should be held accountable to reduce revenue leakages and strengthen the sustainability of Lagos’ regulated transport network.

Meanwhile, the Managing Director of Touch and Pay Technologies, Olamide Afolabi, announced measures to address complaints about incorrect Cowry Card top-ups.

He said new digital solutions, including the Carry Hub platform, a mobile application and self-service top-up kiosks located at bus and rail terminals, would enable commuters to check their balances, review transactions and top up their cards more conveniently.

Afolabi added that a postpaid and single-card payment system is expected to be rolled out before the end of the year, allowing commuters to complete online top-ups that become available instantly without first transferring funds to a physical card.

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Kidnappers Demand N200m to Free Abducted Kebbi High Court Judge

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The abductors of a Kebbi State High Court judge, Justice Faruku Bunza, have demanded N200 million as ransom for his release following his abduction from his residence in Bunza Local Government Area.

The ransom demand was confirmed on Tuesday by the Kebbi State Commissioner of Police, Umar Hadejia, and the judge’s brother, Yusuf Bunza.

Justice Bunza was kidnapped in the early hours of Sunday from his home along Zogirma Road in Bunza, prompting a swift security response.

SEE MORE: Bandits Kidnap Kebbi High Court Judge in Midnight Home Invasion

Speaking on the development, Commissioner Hadejia said police had launched an intensive operation to rescue the judge unharmed and apprehend those behind the abduction.

According to him, intelligence gathered during the operation revealed that the kidnappers were demanding N200 million for the judge’s freedom.

He disclosed that a combined team of security operatives had been deployed to comb suspected escape routes, while strategic checkpoints had been mounted across key locations believed to have been used by the abductors.

The police commissioner expressed confidence that the ongoing operation would lead to the safe rescue of Justice Bunza and the arrest of the kidnappers.

Hadejia further revealed that the family informed the police that the abductors had contacted a registrar of the High Court in Abuja to begin negotiations over the ransom demand.

Confirming the development, the judge’s brother, Yusuf Bunza, said the kidnappers had also reached out to him.

“Yes, they contacted me; they asked for N200 million from the family. We don’t know what to do now but we believe the authorities and security operatives are doing their duty to secure his release,” he said.

The abduction has heightened concerns over the security of judicial officers and the persistent threat of kidnapping across parts of the country, as security agencies continue efforts to secure the judge’s safe release.

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Ogun Students Shut Down Abeokuta-Lagos Expressway After Colleague’s Killing

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Woman Dies After Setting Self Ablaze Over N70,000 Loan In Ogun

Students of DS Adegbenro ICT Polytechnic, Itori, Ogun State, on Tuesday shut down the Abeokuta-Lagos Expressway in protest following the killing of one of their colleagues during a robbery attack on a student community behind the institution.

The protest, which caused heavy traffic congestion along the busy highway, erupted after suspected armed robbers invaded Eruku Community, where many students reside, in the early hours of Tuesday.

According to the Rector of the polytechnic, Dr Goke Rafiu, the attackers raided about 15 houses in the community, killing one student and leaving three others injured.

SEE ALSO: Dangote Granite Mines Boosts Access to Education with Bursary Awards for Ogun Host Community Students

“What happened was that some armed robbers raided about 15 houses in Eruku where some of our students are living. The community is actually behind the school, and during the attack, one of the students was killed while about three others were injured,” Rafiu said.

He disclosed that one of the injured students had been taken to the Federal Medical Centre (FMC), Abeokuta, for treatment.

“We are currently in the community with police officers and members of the institution’s management team, including the Chairman of the Governing Council, Ambassador Toye Okanlawon, to chart the way forward,” he added.

The rector appealed to the protesting students to remain calm, assuring them that the Ogun State Government, security agencies and community leaders were working to improve security around the institution.

Following the tragic incident, the institution postponed examinations scheduled for Tuesday, July 28, and Wednesday, July 29, to honour the deceased student and allow affected students time to recover emotionally.

In a statement signed by the Chairman of the Timetable, Examination and Academic Calendar Committee, Gideon Adekunle, the institution said: “Following the unfortunate incident that resulted in the loss of a student and injuries to others during a robbery attack in Eruku, the examinations scheduled for Tuesday, July 28, and Wednesday, July 29, have been postponed.

“This is to ensure students in the affected area regain their composure and mental stability, and most importantly, to honour the deceased.

“Examinations will resume on Friday, July 30, 2026, as scheduled. A new timetable for the postponed examinations will be communicated in due course.”

The Students’ Union Government President, Comrade Owoigbe Blessing, said the robbers struck around midnight, killing a final-year Higher National Diploma (HND II) student.

“One final-year HND II student was killed, another female student was injured after her ear was severed, while another student who was shot has been rushed to the Federal Medical Centre,” she said.

She called on the Ogun State Government to strengthen security around the institution, lamenting that robbery attacks had become a recurring problem in Eruku Community.

“There is no adequate security. If there was, this would not have happened. This is not the first, second or even third time such an incident has occurred in Eruku,” she said.

Also reacting, the Chairman of the National Association of Nigerian Students (NANS) in Ogun State, Comrade Olabode Faruq Success, condemned the rising insecurity around tertiary institutions in the state and called for urgent intervention to protect students.

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