The Nigeria Civil Aviation Authority (NCAA) has ordered the grounding of a privately operated aircraft, and suspended the operator’s Permit for Non-Commercial Flight (PNCF) after it landed on a roadway near Asaba, before departing the area without regulatory clearance.
The incident occurred on Wednesday morning in the Ogwashi-Uku area, close to Asaba Airport.
In a statement by its director of public affairs and consumer protection, Michael Achimugu, the aviation industry regulator said preliminary information showed the aircraft encountered difficulties during an attempt to land at Asaba Airport, and subsequently executed a missed approach.
“Reports from officials at the scene indicate that all occupants exited the aircraft safely and were conveyed to Asaba by road,” Mr Achimugu said.
According to the NCAA, the aircraft had four crew members on board at the time of the incident.
The regulator, however, expressed concern that the aircraft later took off from the location and returned to Lagos, without securing the required approval from aviation authorities.
Traffic control officials were informed only after the aircraft had already departed, the authority noted, an action it described as a breach of the Nigerian Civil Aviation Regulations.
The NCAA has directed that the aircraft be grounded immediately on its arrival in Lagos, and has placed the flight crew under regulatory review pending the outcome of ongoing investigations.
It disclosed that the Nigerian Safety Investigation Bureau has been notified of the development, adding that it is teaming up with relevant stakeholders, including the aircraft operator and the Nigerian Airspace Management Agency (NAMA), to ascertain the circumstances surrounding both the landing and the subsequent departure.
The investigation will examine the aircraft’s operational records, airworthiness status, maintenance history and other flight-related documentation, with the possibility of taking additional enforcement measures in the event that violations of aviation rules are established.
The incident comes amid increased regulatory scrutiny in the Nigerian aviation sector, where authorities have repeatedly emphasised the need for strict compliance with safety procedures and operational regulations.
The NCAA said it remains committed to ensuring the highest standards of safety, security and regulatory compliance within the industry.
BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with effect from July 1, 2026, as part of efforts to strengthen the stability of the country’s financial system and enforce regulatory compliance.
The apex bank said the action was taken in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
According to the CBN, the revocation was approved by its Governor, Mr. Olayemi Cardoso, following the affected banks’ failure to meet the regulatory requirements necessary for continued operation as licensed financial institutions.
The Bank explained that the decision was necessitated by one or more regulatory infractions, including insufficient assets to meet liabilities, closure of operations without prior approval from the CBN, prolonged inactivity and cessation of financial intermediation, failure to commence operations within 12 months of receiving a licence, and failure to maintain the minimum capital requirement unimpaired by losses.
The CBN stated that the revocation forms part of its ongoing supervisory and regulatory measures aimed at safeguarding the stability of the financial sector, protecting depositors, and ensuring that all licensed financial institutions operate in compliance with existing laws and regulatory standards.
The apex bank reaffirmed its commitment to promoting a safe, sound, and resilient financial system, adding that it will continue to take appropriate regulatory and supervisory actions whenever necessary to maintain public confidence in Nigeria’s financial system.
The Central Bank of Nigeria (CBN) has released the names of the 46 microfinance banks whose operating licences were revoked for failing to meet the regulatory requirements for continued operation.
The apex bank disclosed on Wednesday that the revocation was carried out in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
According to the CBN, the licences were revoked because the affected microfinance banks had insufficient assets to meet their liabilities, closed operations without regulatory approval, or became inactive and ceased financial intermediation.
The revocations were also attributed to the banks’ failure to commence operations within 12 months of obtaining their licences and failure to maintain the minimum capital funds unimpaired by losses.
On the list of 46 microfinance banks whose licences were revoked, Kano State accounted for the highest number, with 13 banks, followed by Lagos with 8.
Also, Abia, the Federal Capital Territory (Abuja), Kaduna, Kebbi, Niger, Ogun, Plateau, recorded two banks each, while Anambra, Akwa Ibom, Bayelsa, Benue, Cross River, Delta, Kwara, Ondo, Osun, Oyo, and Rivers had one bank each.
By category, 25 of the affected institutions were Tier 2 microfinance banks, 18 were Tier 1 microfinance banks, and three were State microfinance banks.
The regulator said the license revocation forms part of its ongoing efforts to strengthen oversight of the financial system and ensure that licensed financial institutions comply with extant laws and prudential regulations.
Here are the microfinance banks whose licenses were revoked: