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Home Lead-In

NAMA Commences Audit Of Nigerian Airspace

by Taiwo Bakare
1 month ago
in Lead-In
Reading Time: 1 min read
NAMA Commences Audit Of Nigerian Airspace
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The Nigerian Airspace Management Agency (NAMA) has commenced a comprehensive audit of the Kano flight information region (FIR), also known as the Nigerian airspace.
Abdullahi Musa, director of public affairs and consumer protection, said the exercise is a self-assessment by the agency to examine overall safety performance, operational efficiency, and regulatory compliance of the nation’s airspace.
He said the audit is targeted at strengthening the agency’s readiness for the Air Navigation Service Provider (ANSP) certification by the Nigeria Civil Aviation Authority (NCAA) and the forthcoming International Civil Aviation Organisation (ICAO) universal safety oversight audit programme, coordinated validation mission, and regional office safety team mission.
“The FIR audit also seeks to evaluate the state of Air Traffic Services (ATS), Communication, Navigation and Surveillance (CNS) facilities, Aeronautical Information Management (AIM),Planning, Research and Statistics (PRS) and Search and Rescue (SAR) operations as well as identify gaps, risks, and opportunities for improvement in accordance with ICAO Standards and Recommended Practices (SARPs) and the Nigerian Civil Aviation Regulations (NCARs),” he said.
“The audit will cover detailed inspections of Nigeria’s four major international airports — Lagos, Abuja, Kano, and Port Harcourt along with Enugu, Maiduguri, and several state and private aerodromes, including CNS facilities across the nation.”
Farouk Umar, managing director (MD) of NAMA, inaugurated the FIR audit committee, which will be headed by Ahmad Abba, director of special duties.
Members of the committee, drawn from air traffic services, CNS/ATM systems, Aeronautical Information Management (AIM), safety management, and search and rescue departments, will liaise with industry stakeholders, regulatory authorities, and frontline operational staff to ensure a rigorous, transparent, and inclusive process.

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Providus Bank has acquired the 34% equity stake held by the Asset Management Corporation of Nigeria (AMCON) in Unity Bank Plc, marking a decisive step toward the long-anticipated merger between the two financial institutions. The deal, valued at about N6.5 billion, saw AMCON offload its decade-old holding in Unity Bank to Providus at a price of N3.18 per share, representing a 110per cent premium to the bank’s prevailing market value of N1.50 on the Nigerian Exchange. Industry analysts said the transaction signals a turning point for Unity Bank, which has faced prolonged struggles with weak capitalisation, rising non-performing loans, and declining market relevance. By transferring AMCON’s strategic stake, they noted, Providus has strengthened its hand as it pushes for regulatory approvals to consummate a full merger. AMCON acquired its Unity Bank stake during the 2011–2012 banking sector clean-up after the global financial crisis exposed balance sheet vulnerabilities across second-tier lenders. Its divestment, according to banking sources, underscores the corporation’s gradual exit from long-held equity positions as it focuses on recovering toxic assets and reducing its systemic footprint. “AMCON’s sale to Providus is significant not just for Unity Bank but for the entire financial system,” said a Lagos-based investment banker. “It shows the government is serious about cleaning up legacy interventions while paving the way for stronger private-sector-led banks.” Unity Bank shareholders are set to benefit from the deal’s pricing structure. At N3.18 per share, Providus’ offer more than doubles the bank’s trading value, giving investors a rare premium exit in a market where bank stocks often trade at steep discounts. For minority shareholders, the merger if approvedcould also unlock value by combining Providus’ niche strength in corporate banking and digital services with Unity Bank’s broader retail and SME base. Providus, one of Nigeria’s fastest-growing mid-tier lenders, is widely seen as using the Unity Bank deal to accelerate its ambition of achieving national bank status. By absorbing Unity’s branch network and customer base, the lender would scale its operations beyond its current limited licence, positioning itself to compete more aggressively with tier-one institutions. “The synergies are clear,” said a senior Unity Bank executive familiar with the talks. “Providus brings balance sheet strength and digital innovation, while Unity offers reach and brand equity, especially in northern Nigeria.” Following AMCON’s divestment, the proposed merger will be subject to approval from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and Unity Bank shareholders. Both banks are expected to present a detailed merger scheme in the coming months, outlining share swap ratios, post-merger governance, and capital plans. Market watchers say regulatory scrutiny will focus on whether the combined entity meets CBN’s revised recapitalisation thresholds, which mandate higher minimum capital bases for Nigerian banks. The Providus–Unity transaction comes amid a wave of consolidation moves triggered by the CBN’s ongoing recapitalisation drive. Several lenders are exploring mergers, acquisitions, or fresh capital injections to meet compliance deadlines ahead of 2026. “This is the first big-ticket transaction of the recapitalisation era,” said a financial markets analyst. “It won’t be the last.”

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