Reports have emerged that the Lagos, Abuja, Port Harcourt and Kano airports will be on concession for a minimum of 20 to 30 years.
In a document on the status of the road map/public private partnership projects concession of airports, made available to reporters, the government named Murtala Muhammed International Airport, Lagos: international and cargo terminals; and Nnamdi Azikiwe International Airport, Abuja: international, domestic and cargo terminals as the airport up for concession.
Others include the Port Harcourt International Airport, Port Harcourt: international, domestic and cargo terminals; and Mallam Aminu Kano International Airport, Kano: international, domestic and cargo terminals.
A separate document read, “Infrastructure concessions of this nature come with a significant financial obligation which any responsible concessionaire will no doubt be keen to recoup.
“To this end we envisage a minimum of 20) to 30 years for the programme, which may be extended depending on performance and Nigeria’s best interests.
“That said, the duration is not set in stone and will be subject to negotiation and then final approval by the Federal Executive Council.”
The aviation ministry said the concession applied to the non-aeronautic assets of the airports located in the passenger and cargo terminals.
The ministry explained that this space commonly referred to as the passenger terminal comprised of retail spaces, waiting and seating areas, airport and airline lounges, baggage collection, check-in counters as well as administrative offices.
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.