News
Airlines Flee Heavy Taxes, Ditch Local Maintenance

Uncoordinated tax administration is increasingly getting unfriendly and becoming a disincentive to businesses including the aviation industry which has been forced to carry out major checks abroad instead of locally, Nigeria CommunicationsWeek has learnt.
Though Nigeria can lay claim to some domestic aircraft maintenance, the savings from doing the checks locally are quite little due to the current taxation policy.
The tax system highlights the difficulties in doing business in the country and the aviation industry is worried at the huge foreign exchange expended abroad in the maintenance of the nation’s aircraft.
Captain Akinlawon George, managing director, Aero Contractors said tax system put maintenance provider in a big disadvantage against foreign players.
“Nigeria has relatively high import duties on aircraft parts. Airlines typically fly their aircraft to, say, Turkey to have them serviced and relevant parts replaced. Once that aircraft flies back to Nigeria, the new parts are not subject to import duties as they are already installed on the plane. This puts any Nigerian maintenance provider in a big disadvantage against foreign players.” George said
He explained that “A Nigerian maintenance provider would need to import all spares used in maintenance and thus incur the import duties that those maintaining their aircraft abroad avoid completely.”
Prescribing a panacea to the problem, George said the resolution to this issue can be either that spares imported as installed on a plane are subject to import duty, or that Nigerian maintenance businesses would get import duty relief.
“If Nigeria ever wants to allow for aircraft maintenance business to develop in Nigeria, it needs to create a level playing field between domestic and foreign operations. Right now, Nigeria is subsidizing maintenance businesses abroad and as a result is not allowing the same business develop in Nigeria,” he added.
Nigeria CommunicationsWeek gathered that the Nigerian Civil Aviation Authority (NCAA) had recently approved Aero as an Aircraft Maintenance Organisation (AMO) for “A” and “B” checks on Boeing aircraft, various levels of checks on other airplanes.
With that certification, Aero intends to expand existing hangar to enable it meet the requirements of aircraft maintenance work including third party work so that it would be able to service the West African sub-region market for third party maintenance work, provide employment opportunities, training and staff enhancement programmes for employees.
News
SEC Probes Ponzi Scheme Linked to FF Tiffany

The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
News
US Launches ‘Window on America’ @ Ogun Tech Hub

The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
News
TikTok Removes Over 3.6m Videos in Nigeria, Citing Safety Priorities


- Broadcasting2 days ago
Nigeria Week Ahead: Inflation, Oil and Naira in focus
- News2 days ago
EFCC: Accusations Against Our Chairman Are Baseless and Misleading
- Telecom1 day ago
MTN Nigeria Targets $1Bn Cloud Market with Largest Modular Data Centre
- Telecom1 day ago
NCC Introduces N10m Licence Fee for Bulk SMS Service
- E-Business1 day ago
Firm Highlights Top Risks of Quantum Computing
- General News1 day ago
AM Best Reaffirms Stable Outlook for Cyber Insurance Market
- General News1 day ago
Woodhall Capital and Partners Launch ₦1.5Bn Fund
- General News1 day ago
Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud