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FCCPC uncovers alleged price manipulation by local airlines

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FCCPC uncovers alleged price manipulation by local airlines

The Federal Competition and Consumer Protection Commission (FCCPC) has uncovered patterns of alleged price manipulation by some domestic airlines during the last festive season, citing interim findings that also flagged document irregularities over the Christmas period. The Commission added that its probe will next extend to foreign carriers operating in the country.

In a statement signed by the Director of Corporate Affairs, Ondaje Ijagwu, the Commission said the revelations were contained in an interim report issued by its Department of Surveillance and Investigations.

The report followed the announcement of an industry-wide investigation in January. According to the Commission, the probe included a forensic review supported by data collated from airlines operating domestic routes across Nigeria.

The FCCPC said further updates would be provided as the investigation progresses, particularly as scrutiny shifts to foreign airlines.

“The report compares domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels. Preliminary analysis indicates that fares recorded during the December peak were materially higher than those observed in the post-peak period across several routes despite relative stability in critical operating variables like fuel price, government taxes and foreign exchange.

“The differences observed in fares therefore appear to reflect airlines’ arbitrary pricing decisions, including yield management and capacity allocation, rather than any variation in regulatory fees.

Route-level analysis shows that higher fares coincided with periods of reduced seat availability during predictable seasonal demand peaks.

“On some high density routes, peak fares were clustered within relatively narrow ranges across several operators. For instance, on certain corridors like Abuja-Port Harcourt, peak fares were several times higher than corresponding post-peak levels. On selected routes, the difference in the price of a single ticket reached approximately ₦405,000. Median fares across the sampled routes also rose markedly during the festive window when compared with post-peak benchmarks”.

“However, the interim report recognises that seasonal demand pressures, scheduling constraints and fleet utilisation may also affect pricing during peak travel periods. These factors remain under consideration as part of the Commission’s ongoing review.

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Speaking on the release of the interim report, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the review is part of the Commission’s statutory responsibility to promote competitive markets and safeguard consumers.

“This assessment is intended to provide clarity on pricing behaviour during predictable peak travel periods. The Commission’s role is not to disrupt legitimate commercial activity, and to ensure that market outcomes remain consistent with competition and consumer protection principles under the law, the Commission is conducting further structural and route-level analysis before reaching any conclusions.

Bello noted, “It is important to emphasise that this is an interim report. Our next action will be dictated by full facts established at the end of the review exercise.  Then, the Commission will decide whether any regulatory guidance, engagement or enforcement steps are necessary and strictly in accordance with the law,” he said.

The report identifies the possible relevance of Sections 59, 72, 107, 108, 124 and 127 of the Federal Competition and Consumer Protection Act 2018, which respectively address the prohibition of agreements in restraint of competition, the prohibition of abuse of a dominant position, the offence of price-fixing, conspiracy to commit offences under the Act, the right to fair dealings, and the prohibition of unfair, unreasonable or unjust contract terms.

Meanwhile, Mr. Bello announced that foreign airlines will come under FCCPC radar after the ongoing review of local airlines in view of widespread complaints of exploitative fares they allegedly charge Nigerians on certain routes compared to fares in neighbouring countries that are of equal distance.

U.S. hails NAF’s preparedness for AH-1Z helicopter delivery

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U.S. hails NAF’s preparedness for AH-1Z helicopter delivery

The United States has commended the Nigerian Air Force (NAF) for its high level of preparedness ahead of the delivery of AH-1Z helicopters to Nigeria.

The commendation was conveyed by the leader of the U.S. delegation from PMA-276, Robert Galan, during a three-day high-level engagement with senior NAF officials at the Headquarters of the Nigerian Air Force in Abuja on Thursday.

On January 6, the Chief of the Air Staff (CAS), Air Marshal Sunday Aneke, led a programme management review meeting with senior U.S. government officials and representatives of Messrs Bell Textron in San Diego, California, to accelerate the acquisition of 12 AH-1Z attack helicopters from the United States.

During the engagement, Air Marshal Aneke expressed appreciation to the United States Government and Messrs Bell Textron for their continued cooperation, professionalism, and transparency in the execution of the helicopter acquisition programme.

He said the structured review reflected the NAF’s deliberate emphasis on programme discipline, accountability, and results.

He noted that the acquisition of the AH-1Z helicopters represents more than a platform upgrade but also a reflection of the enduring defence cooperation between Nigeria and the United States.

The acquisition of the AH-1Z helicopters was part of the federal government efforts to strengthen the NAF’s operational capabilities in ongoing counterterrorism and counterinsurgency operations through the acquisition of new air platforms to address evolving security threats.
U.S. hails NAF’s preparedness for AH-1Z helicopter delivery

A statement by the NAF’s spokesperson, Air Commodore Ehimen Ejodame, stated that the latest meeting between the U.S delegation and NAF’s officers focused on the comprehensive Programme and Support Plan designed to ensure seamless integration, sustainment, and operational effectiveness of the incoming fleet.

READ ALSO: US Congress submits Nigeria report on‘Christian genocide’, recommends sanctions

According to the statement, Chief of Air Staff, represented by the Chief of Policy and Plans, Air Vice Marshal Abubakar Abdullahi, reaffirmed the NAF’s unwavering commitment to aligning all operational, technical, and logistical requirements to guarantee immediate operational readiness upon delivery of the aircraft.

“The engagement underscores the steady advancement of Nigeria–United States defence cooperation, anchored on mutual trust, shared security objectives, and institutional professionalism,” the statement said.

It said the commendation reflects international recognition of the NAF’s meticulous planning, strategic foresight, and disciplined modernization drive under the leadership of the Chief of the Air Staff.

“Beyond fleet acquisition, this collaboration strengthens Nigeria’s airpower capability, reinforces national security architecture, and contributes meaningfully to broader national stability and sustainable development,” the statement said.

FG moves to democratise credit access, inaugurates CREDICORP Board

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FG moves to democratise credit access, inaugurates CREDICORP Board

The Federal Government on Thursday took a major step towards expanding financial inclusion with the inauguration of the Board of the Nigerian Consumer Credit Corporation (CREDICORP), as Vice President Kashim Shettima declared that access to consumer credit is central to Nigeria’s ambition of building a one-trillion-dollar economy.

Speaking during the inauguration ceremony at the Presidential Villa in Abuja, Shettima said CREDICORP was established by President Bola Ahmed Tinubu to build a trusted credit infrastructure, provide catalytic capital to lower borrowing costs, and help Nigerians overcome long-standing cultural resistance to credit.

According to the Vice President, improving the quality of life of Nigerians requires closing the gap between access to capital and human dignity.

“A civil servant who earns honestly does not have to chase sudden wealth just to buy a vehicle, or save for ten years to buy one. A young professional should not remain in darkness simply because solar power must be paid for all at once,” he said.

According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima disclosed that within just one year of operations, CREDICORP has disbursed over ₦37 billion in consumer credit to more than 200,000 Nigerians, with over half of the beneficiaries accessing formal credit for the first time.

READ ALSO: Naira will appreciate to N1,000 per dollar in coming weeks – Tinubu

He explained that the corporation is specifically tasked with building credit infrastructure to bridge the trust gap between lenders and borrowers, while also providing wholesale capital and credit guarantees through its portfolio company.

“Ultimately, these critical jobs of CREDICORP will enable access to consumer credit to at least 50 per cent of working Nigerians by 2030,” the Vice President stated.

He emphasised that the newly inaugurated board members were not appointed for ceremonial purposes but as custodians of the institution’s mission, noting that its long-term strength would depend on their “vigilance, integrity, sacrifice, and commitment.”

Shettima directed the board to strictly uphold Public Service Rules, the Board Charter, and all applicable governance frameworks, warning that accountability and stewardship of public resources are non-negotiable.

Earlier, Chairman of CREDICORP, Otunba Aderemi Abdul, thanked President Tinubu for the vision behind the establishment of the corporation and for the confidence reposed in the board, describing the move as a significant milestone in strengthening Nigeria’s financial architecture.

He assured that the board understands its responsibility and will guide the institution to deliver meaningful and measurable benefits to Nigerians.

Managing Director/Chief Executive Officer of CREDICORP, Engr. Uzoma Nwagba, recalled that President Tinubu had, two decades ago, identified consumer credit as a vital tool for improving the lives of Nigerians.

He noted that over the past 18 months, the institution has directly impacted more than 200,000 Nigerians, including students, stressing that the team considers its appointments a unique opportunity to translate the President’s long-held vision into tangible outcomes.

Other members of the board inaugurated include Olanike Kolawole, Executive Director, Operations; Aisha Abdullahi, Executive Director, Credit and Portfolio Management; Dr. Armstrong Ume-Takang, Managing Director of the Ministry of Finance Incorporated (MoFI), representing MoFI; Engr. Bisoye Coke-Odusote, Director-General of the National Identity Management Commission (NIMC), representing NIMC; and Mohammed Naziru Abbas, representing the Federal Ministry of Industry, Trade and Investment (FMITI).

Also on the board are Marvin Nadah, representing the Federal Competition and Consumer Protection Commission (FCCPC); Chinonyelum Ndidi, representing the Federal Ministry of Finance; Mohammed Abbas Jega, Independent Director; and Toyin Adeniji, Independent Director.

The inauguration signals the administration’s renewed push to deepen financial inclusion and reposition consumer credit as a catalyst for economic growth and improved living standards.

Senate urges Tinubu to sack CAC Registrar-General, Hussaini Magaji

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Senate urges Tinubu to sack CAC Registrar-General, Hussaini Magaji

The Senate has asked President Bola Tinubu to remove the Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN, from his office.

The Senate Committee on Finance, while passing a resolution in Abuja on Thursday, accused Magaji of failing to honor the Senate’s invitations to account for the finances of his agency.

This resolution was adopted after a motion was raised by Senator Orji Uzor Kalu when the President’s economic team appeared before the Senate Committee on Finance.

During the introduction of agency heads at the start of the session, which began on a strained note, lawmakers expressed displeasure over the absence of the CAC boss, who had been invited to give an account of the commission’s activities.

Senator Uzor Kalu angrily moved a motion calling for the immediate removal of the Registrar-General, citing what he described as a persistent refusal to honour invitations from the finance committee.

“Since I came to the Senate, he has always given excuses that he is in the Villa.”

READ ALSO: Tinubu asks Senate to amend Constitution for state police

The Chairman of the Senate Committee on Finance, Senator Sani Musa, also raised concerns about unresolved issues surrounding the reconciliation of the commission’s revenues, noting that the agency head had repeatedly failed to appear to address the matters.

“He refused on so many occasions to honour our invitation to appear before this committee.

“We have issues with the reconciliation of the revenue of CAC.

“Each time we invite him, he gives us excuses,” the Chairman of the committee, Senator Sani Musa, said as the committee passed the resolution.

VeryDarkMan Fires Back at King Mitchy After Post Over Alleged Unused Donation Funds

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VeryDarkMan Fires Back at King Mitchy After Post Over Alleged Unused Donation Funds

Content creator King Mitchy has publicly addressed social commentator VeryDarkMan (VDM), urging him to take action regarding funds reportedly donated by Nigerians to his non-governmental organisation.

It would be recalled that in 2024, Nigerians raised over ₦350 million for VDM’s NGO. However, concerns have been raised over the absence of a detailed public account of how the funds are being utilised, particularly regarding proposed school renovation projects.

In a statement, Mitchy clarified that she does not dislike VDM but expressed worry that the hundreds of millions of naira donated by supporters have allegedly remained in his bank account for nearly two years without visible progress on renovating schools. She questioned why he continues to produce content centered on trending gossip instead of focusing on the school projects the donations were meant to support. She also offered to assist by providing locations of damaged schools, stating that she would be willing to help identify communities in need if required.

The situation escalated after VDM reacted to Mitchy’s recent school renovation initiative. Mitchy had revealed that she renovated some schools within six days and publicly appreciated Seyi Tinubu for funding the project.

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Responding in a video shared on his Instagram page, VDM questioned the motive behind the gesture and suggested it was politically driven ahead of the 2027 elections.

“Seyi Tinubu that has the ears of his father gave you money to renovate a school and you think you are special? You are a political tool,” VDM said.

He further argued that Mitchy should not feel “special” for executing a project funded by someone with direct access to political power.

According to him, if she truly has access to Seyi Tinubu and is aware of failing public schools, she could push for wider government intervention rather than isolated renovations.

VDM also linked the development to the political calendar, saying, “They didn’t give you this money in 2023 or 2024. They are giving you in 2026 when campaign for 2027 is close.”

He stressed that governance should not be reduced to influencer-backed projects, raising concerns about insecurity and economic hardship across parts of the country.

The exchange has since sparked widespread debate online. While some Nigerians argue that charitable efforts should not replace government responsibility, others maintain that renovated schools benefit students regardless of the political timing surrounding the projects.