Nigeria’s newly appointed Minister of Innovation, Science and Technology, Kingsley Tochukwu Udeh (SAN), has committed to repositioning his ministry as a key driver of national economic transformation and technological advancement.
Shortly after assuming office, Udeh stressed that Nigeria must take innovation, science and technology seriously if it is to become one of the world’s leading nations. He emphasised that the ministry will not operate as a symbolic unit but as a strategic engine of progress.
He said the ministry will focus heavily on empowering youth to harness their skills, knowledge and creativity. Udeh insisted that innovation, science and technology must deliver solutions to national challenges including security and unemployment.
The minister added that his leadership team has already identified “quick wins” that will yield tangible results in a short timeframe. He stressed that relevance will be measured by the ministry’s impact on Nigerian lives.
President Bola Tinubu’s confirmation of Udeh aligns with a broader national agenda that places science, technology and innovation at the core of economic strategy. Stakeholders will watch closely to see how the ministry translates ambition into action.
President Bola Tinubu has issued a directive banning the sale or transfer of any property owned by the Federal Airports Authority of Nigeria (FAAN) that lies within or adjacent to airport zones. The move was announced during a briefing by the Aviation Minister, Festus Keyamo, following the latest meeting of the Federal Executive Council (FEC).
Keyamo explained that the assets are vital national infrastructure. He emphasized that many of these properties house essential staff such as firefighters and air-traffic controllers who must be close to airport grounds. The directive effectively overrides previous plans by former administrations to dispose of these assets.
In parallel, the FEC approved a series of eight major aviation sector initiatives. These include upgrading aeronautical information management systems at Nigeria’s five main international airports, rolling out Terrestrial Trunked Radio (TETRA) communication infrastructure, acquiring 15 specialised airport rescue and firefighting vehicles, and constructing a dedicated headquarters for the Nigerian Airspace Management Agency (NAMA).
For the aviation and infrastructure sectors, the combined announcements signal significant opportunities. Construction firms, technology providers and equipment manufacturers may benefit from contract awards associated with the upgrades. Meanwhile, investors in airports and logistics stand to gain from improved operational efficiency and expanded service hours.
On the regulatory front, the property‐ban move reinforces government control of strategic airport assets. It may also deter speculative real-estate deals around critical aviation zones and align with global standards for airport-owned housing and support facilities.
Grammy’s Changes Urban Contemporary' Award to 'Progressive R&B'
Davido, Burna Boy, and Ayra Starr have secured nominations for the 2026 Grammy Awards, a milestone that reinforces Nigeria’s growing influence in the global music scene and creative economy.
The trio were nominated in the Best African Music Performance category, a recognition that celebrates Africa’s evolving sound and the global appeal of Afrobeats. Their achievements mark another win for Nigeria’s thriving entertainment industry, which continues to drive exports, tourism, and brand collaborations.
Beyond artistic success, these nominations signal the strength of Nigeria’s creative economy. With streaming platforms, event promoters, and record labels investing heavily in Afrobeats, the industry’s contribution to GDP and youth employment continues to rise.
Nigerian music has become one of the country’s most powerful exports, opening international markets and attracting investment into production, talent management, and digital media. The global demand for Afrobeats continues to draw partnerships that strengthen the creative value chain at home.
The Grammy ceremony will take place in Los Angeles, where African artists are increasingly shaping global pop culture. For Nigeria, these nominations reflect not just musical excellence but the growing potential of creative enterprise as a driver of national development.
Researchers at the University of Rhode Island (URI) have launched a new study exploring how smart grocery carts can help shoppers make healthier food choices. The initiative focuses on users of grocery shopping apps and aims to understand how real-time prompts and digital tools influence purchasing decisions.
According to the research team, the project integrates behavioral science and technology to promote better nutrition outcomes. The smart carts are designed to alert users when they add items high in sugar, sodium, or saturated fats, while also suggesting healthier alternatives.
Dr. Kerri Boutelle, a behavioral health expert leading the study, said the goal is to test how digital interventions can nudge people toward better food decisions without restricting choice. She explained that this form of “gentle guidance” can improve diet quality and encourage long-term healthy habits.
The findings could have broad implications for retailers and developers in the growing grocery-tech industry. As consumer health awareness rises globally, integrating such tools into shopping platforms may create new opportunities for both health-focused innovation and customer engagement.
For Nigerian and African retailers expanding into digital grocery platforms, the study offers insight into how data-driven shopping experiences can influence consumer behavior. By combining technology with wellness-focused design, local e-commerce operators could help tackle poor nutrition while improving customer loyalty.
The National Pension Commission (PenCom) has announced that a free health insurance scheme for low-income pensioners under the Contributory Pension Scheme (CPS) will begin in 2025.
PenCom’s Director-General, Omolola Oloworaran, said the programme aligns with the federal government’s broader social protection goals. She noted that it aims to ensure dignity and better welfare for retirees, especially those in lower income brackets.
The scheme will be managed through the “PenCare” initiative and overseen by a board of trustees comprising experts from the pension and insurance sectors. It will cover basic healthcare needs for registered retirees while improving their quality of life.
For the pension industry, the move could boost confidence and participation in the CPS. However, analysts note that its success will depend on sustainable funding, transparency, and coordination with the National Health Insurance Authority (NHIA).
PenCom said the plan is part of ongoing reforms to modernise Nigeria’s pension system and extend benefits beyond regular pension payments.
Lagos is set to host the Shakara Festival, a four-day celebration of music, fashion, and lifestyle that is expected to draw thousands of visitors and inject fresh activity into Nigeria’s creative economy.
The event, scheduled for December 18–21, 2025, will take place at the Nautica Beach Resort in Lekki, Lagos.. Organisers project a turnout of more than 20,000 people each day, highlighting Lagos’ growing appeal as a destination for entertainment and business events.
According to the organisers, the festival will feature live performances, cultural showcases, food exhibitions, and business booths for vendors. It aims to promote African creativity while opening revenue opportunities for local brands, artisans, and small businesses.
The Shakara Festival also aligns with Lagos State’s tourism and creative industry agenda, which seeks to position the city as a cultural hub and attract more international partnerships. Business analysts say events like this generate ripple effects across transport, hospitality, and retail sectors.
According to founder Godson Oriaku, the festival is designed to elevate Nigerian music and culture onto the global stage. He says it is built “for the Nigerian music scene” and aims to bring African sounds, flavours and fashion together in one platform
For local entrepreneurs, the event represents a timely opportunity to showcase products, connect with consumers, and benefit from December’s high-spending season. With growing investor interest in cultural exports, the Shakara Festival could help strengthen Nigeria’s image as a leader in Africa’s creative marketplace.
Lagos State Governor Babajide Sanwo-Olu has launched the construction of 114 rural roads across the state’s local councils. The initiative aims to improve access to markets, ease transportation, and stimulate economic growth in rural communities.
Speaking at the flag-off event, Sanwo-Olu said the new road projects would enhance agricultural trade and rural productivity. He explained that better road networks would make it easier for farmers to transport goods, reduce losses, and improve their income.
The initiative is part of the state’s broader plan to promote inclusive development and expand infrastructure outside the city centre. The governor noted that every local government area and local council development area would benefit from at least one new road project.
He also emphasized that the projects would create jobs for artisans, engineers, and local contractors, contributing to Lagos’ drive for sustainable employment and private sector participation.
Commissioner for Local Government and Community Affairs, Bolaji Kayode Robert, added that the initiative reflects the state’s commitment to equitable growth and rural transformation.
Observers believe the rural road initiative could strengthen Lagos’ agricultural value chain and encourage more private investment in food production and logistics.
The National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) have directed insurance firms to fully enforce compliance with pension and insurance laws.
The regulators issued a joint statement to improve protection for employees and ensure that organizations meet their statutory obligations. The move is expected to close long-standing gaps in the management of employee benefits.
According to the directive, insurers must now verify that all companies holding group life insurance policies also maintain valid pension arrangements for their staff. This cross-check will help identify organizations that are defaulting on either obligation.
PenCom and NAICOM said the enforcement effort will strengthen transparency and improve coordination between both sectors. The collaboration also aims to build confidence among employees, many of whom face difficulties when accessing retirement or insurance benefits.
Industry stakeholders believe that closer cooperation between regulators could help reduce compliance breaches and boost trust in Nigeria’s financial system.
The new measure is part of a broader effort to enhance corporate accountability and align the pension and insurance industries with global best practices.
Banking in Nigeria has changed and PalmPay is at the center of it. Whether it’s sending money to family, saving for a rainy day, or paying bills in seconds, PalmPay is showing millions of Nigerians that banking doesn’t have to be stressful.
So, if you’ve ever wondered how best you can use your PalmPay app, here are five smart ways people are using it to make everyday life easier and more rewarding.
1. Sending Money Without Charges
A typical Nigerian carries out dozens of transactions weekly, and those bank charges can quietly add up over time. With PalmPay, users enjoy unlimited free transfers to any bank, and transactions are instant. You can send and receive funds to any bank account or PalmPay wallet in seconds; no delays, no hidden fees.
Smart tip: Once you type the first few digits of an account number, PalmPay automatically suggests the recipient, saving you time and making future transfers even faster.
2. Reliable Transfers, Always
PalmPay users enjoy fast, dependable transfers thanks to the platform’s 99.9% transaction success rate powered by its own payment infrastructure. It’s smooth, reliable, and eliminates the classic “Oya refresh your app” moment we all know too well.
Smart tip: PalmPay notifies you of the recipient’s network status before completing a transfer which helps users avoid failed transactions.
3. Paying Bills Without Stress
From electricity and data to cable TV and other essential bills, PalmPay makes payments simple. Everything you need is right there in one app, no queues or multiple logins. And the best part? You earn cashback and PalmPoints every time you pay.
Smart tip: Get up to 3% cashback on certain bill payments and transactions. Check the app for ongoing promos.
4. Saving More
PalmPay isn’t just for spending, it’s built for building wealth too. With multiple savings products like CashBox, Spend and Save, Target Savings, and Fixed Savings, users can set money aside automatically and earn up to 20% interest annually.
Whether you’re saving for rent, a trip, or to grow your business, PalmPay helps you stay consistent and intentional.
Smart tip: Name your savings goals “House Rent” or “Emergency Fund” to stay motivated.
5. Getting Rewarded for Everyday Transactions
Who says banking has to be boring? PalmPay gives users rewards through cashback and PalmPoints for everyday actions like buying airtime, paying bills, and referring friends. It’s simple; the more you use it, the more you earn.
Smart tip: Check the app to track your PalmPoints, trial cash, and other reward offers.
The Smarter Way to Bank
PalmPay is licensed by the CBN and insured by NDIC, so users’ money stays protected. With features like night guard, transaction guard, PIN, and fraud monitoring, users enjoy secure and stress-free banking.
From students to business owners, more Nigerians are choosing PalmPay for fast, secure, and rewarding transactions, just the way banking should be.
The federal government has authorised the issuance of ₦758 billion in bonds to address long-standing pension liabilities across public service and private sectors.
At a recent workshop on the Contributory Pension Scheme (CPS), the Director General of National Pension Commission (PenCom), Ms. Omolola Oloworaran, confirmed the bond approval. The issuance is intended to settle arrears and grant increases owing since 2007.
Ms. Oloworaran stated that pension assets have surpassed ₦25 trillion. She also reported that more than 10 million Nigerians are now covered under the CPS, with over 844 000 retirees receiving steady benefits.
The bond issuance marks one of the largest direct interventions into pension liabilities in recent years. The move is expected to improve beneficiary confidence and support the broader goal of pension system reform.
For the financial sector and pension industry, this development offers both opportunities and risks. The successful deployment of the funds could restore trust in the system and encourage greater participation. On the other hand, careful monitoring and transparent deployment will be crucial to avoid future liabilities.
Nigerian Breweries Plc, Nigeria’s foremost brewing company, continues to progress its ambition to achieve net-zero carbon emissions in production by 2030 across its operations nationwide. The Corporate Affairs Director, Nigerian Breweries Plc, Uzodinma Odenigbo, stated this during a media parley/engagement session on Friday, October 10, 2025.
Speaking during the parley, Odenigbo explained that the company has made significant investments in renewable energy solutions such as biomass, solar and energy-efficiency projects across its breweries to reduce carbon emissions across its breweries, and have signed power purchase agreements to this effect.
He explained that over the last few years, the company had signed many power purchase agreements with different renewable energy firms to reduce its dependence on non-renewable energy sources.
He disclosed that the company has spent over N2.5 billion supporting its carbon reduction ambition across its operations as part of the Brew a Better World sustainability strategy.
In addition, he noted that the company has committed considerable resources by contributing to water-replenishment projects in water-stressed areas, including support for the Olokomeji reforestation initiative, where over 300,000 trees have been planted in Ogun State, Nigeria, through external partnerships to support local watershed restoration.
“As a company, we are advancing sustainability outcomes through our Brew a Better World initiatives. Over the past few years, we have made notable investments in renewable energy as part of our transition toward net-zero operations that many people are unaware of. We are also signing power purchase agreements to further reduce our national carbon footprint and progress toward our long-term net-zero ambition,” he said.
He stated that the company will continue to empower its host communities by investing in capacity building for its people and expanding its operations to create employment opportunities. He disclosed that the company recently invested over N200 million in skill acquisition and constructed a cassava milling plant in Kaduna and Awo-Omamma respectively.
He noted that the company, in collaboration with other members of the Beer Sectoral Group (BSG) and in partnership with the FRSC continues to implement its annual advocacy campaign promoting responsible alcohol consumption among commercial drivers, with potential to reach up to a thousand drivers by December 2025.
Reiterating the company’s commitment to promoting environmental sustainability and responsible production practices across its value chain, the Corporate Affairs Director emphasised the significance of the company’s long-standing investment in reusable glass packaging, which supports packaging circularity and aligns with global sustainability practices.
Oak Pensions and the Nigerian University Pension Management Company have emerged as the top performers among Nigeria’s Pension Fund Administrators (PFAs) for October 2025.
According to Nairametrics’ latest monthly review, both funds delivered strong returns across several classes, maintaining consistency in a year marked by inflation and economic adjustments. Oak Pensions led in Fund I and Fund II categories, while Nigerian University Pension performed strongly in the Retiree Fund category.
Analysts say the October performance reflects improved investment strategies by PFAs despite market volatility. The positive showing also indicates renewed investor confidence in the pension sector, supported by regulatory oversight and a gradual rebound in key asset classes.
However, fund performance continues to vary across administrators. Experts advise contributors to review their pension statements regularly and understand their PFAs’ investment portfolios to make informed decisions.
The Nigerian pension industry, valued at more than ₦18 trillion, remains a critical part of the nation’s financial system. Its sustained growth depends on transparency, efficient fund management and investor education.
Nigeria’s major banking institutions are under pressure in the equity market following a generally uninspiring third-quarter earnings performance. Aside from United Bank for Africa (UBA), none of the Tier-1 lenders posted year-on-year profit growth, as asset-quality concerns spurred higher expected-credit-loss charges and rising cost burdens.
Net interest margins narrowed, and analysts warn that the trend may intensify as the Central Bank of Nigeria (CBN) moves to cut its policy rate — an action likely to squeeze interest-earning assets further. Banks under regulatory forbearance remain dividend-restricted, prompting increased provisioning.
Legacy loan portfolios continue to stain overall performance, though regulatory headwinds appear to be easing.
Broadstreet analysts interviewed by MarketForces Africa indicate: “With the central bank in the mood to cut rates for the economy to expand, banks will have lower net margins. Competition will hit bottom line and lower FX gains will have effects on performance.” In the stock market:
UBA’s share price has declined to ₦41 from a 52-week high of ₦50.55, valuing the bank at ₦1.682 trillion.
Zenith Bank trades at ₦59.90, down from a 52-week high of ₦78.50, with market capitalisation of ₦2.460 trillion.
Access Holdings PLC is priced at ₦22.50, down from ₦28.90 twelve months ago, market cap at ₦1.19 trillion.
GTCO has fallen to ₦85.50 from a 52-week high of ₦103.20, with market value at ₦3.1 trillion amid sell-pressure.
First Holdco now trades at ₦31.50, down from ₦37.50, and has a market value hovering at ₦1.319 trillion. The muted earnings outlook, combined with expectations of rate cuts and foreign-exchange headwinds, leave investors questioning whether banks can deliver the returns seen in previous cycles.
Short-term benchmark interest rates in Nigeria swung this week as excess liquidity in the financial system surged to about N5 trillion on Thursday. The large surplus comes amid limited open-market operations from the Central Bank of Nigeria (CBN), resulting in a money-market environment characterised by abundant cash and intermittent rate movements.
Commercial banks, flush with excess deposits, continue to park large amounts of cash at the CBN’s Standing Deposit Facility — earning a modest return, yet still preferable to borrowing.
In spite of the hefty liquidity cushion, average funding costs ticked upward: the Open Repo Rate (OPR) remained at 24.50 percent while the overnight (O/N) rate rose by one basis point to 24.83 percent.
Investment firm AIICO Capital noted that the liquidity surge was principally triggered by the maturity of ₦662.8 billion in Treasury-bill inflows. Even though ₦546.2 billion of T-bills were auctioned on Wednesday, net liquidity still increased by ₦401.5 billion.
Despite the increase in spare cash, analysts anticipate that funding costs will remain broadly stable unless significant funding demands emerge. With the system flush and the CBN inactive on the operations front, inter-bank rates are expected to linger below 25 percent in the near term.
Yields on Nigerian government bonds edged lower on Thursday as the secondary-market average declined by three basis points to 15.79 percent, signalling a surge in investor appetite for domestic sovereign securities ahead of the November issuance.
The decline reflects a growing cohort of risk-averse investors seeking attractive returns in the local fixed-income market, driven by expectations of a forthcoming interest-rate cut from the Central Bank of Nigeria (CBN) later this month. Consensus among analysts at the local firm Broadstreet points to inflation dipping below 18 percent, helping support the dovish monetary-policy stance.
Short- and medium-tenor issues saw noticeable yield compression: papers maturing in 2027, 2028 and 2029 slipped to 15.83 percent, 15.90 percent and 15.88 percent respectively. In contrast, moderate selling in the mid-tenor space pushed yields on the 27-Apr-2032 and 2033 maturities up by four and five basis points, to 15.83 percent and 15.78 percent respectively. Long-maturity trading remained relatively calm overall.
Market sentiment remains bullish for the remainder of the week as investors lock in yields and build positions. A recent cut in the one-year Treasury bill stop-rate by the CBN to 16.04 percent helped underpin demand.
Amid an improved liquidity backdrop, expectations are rising for a continued rally in fixed-interest securities toward the week’s close as participants lock in current yields ahead of policy action.
The British pound experienced a notable decline against major foreign-exchange peers after the Bank of England (BoE) elected to maintain its key policy rate at 4 percent. In a narrowly divided 5-4 decision, the BoE’s Monetary Policy Committee opted to leave the Bank Rate unchanged, triggering volatility in sterling markets.
In the immediate aftermath, the GBP/USD pair fell to approximately $1.305, as four members of the committee had pushed for a 25 basis-point cut to 3.75 percent — a move markets had not fully anticipated.
In its policy statement, the BoE emphasised that the consumer-price index appears to have reached a peak, and that risks of sustained inflation have diminished while weaker demand poses increasing downside risks. In its words: “if progress on disinflation continues, the Bank Rate is likely to follow a gradual downward path, though further evidence is needed before easing policy further.”
Sterling traded in a choppy fashion, oscillating between roughly $1.3110 and $1.3150 during the prior session, before falling to around $1.3060 today — its weakest level in seven months. Concerns that the UK budget announcement later this month may deliver unwelcome surprises appear to have weighed on market sentiment.
In parallel, the 10-year US Treasury yield dipped by more than two basis points to under 4.09 percent, while gold traded quietly within yesterday’s range, off by just under $10 in late European-morning turnover.
The Federal Executive Council (FEC) has approved the concession of Port Harcourt International Airport to private operators as part of ongoing reforms aimed at improving efficiency and ending years of losses recorded at poorly performing terminals nationwide.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Thursday after the FEC meeting at the State House, Abuja. He also moved to allay concerns among aviation unions, insisting that no employee would be displaced as a result of the concession.
“This is a message to the unions – nobody will lose their job. I am pro-workers and we will engage them,” Keyamo said, accusing some actors within the system of instigating anxiety and misinformation. “They will not dictate government policy.”
Keyamo noted that Port Harcourt Airport had previously failed to attract investors under the past administration, but said renewed confidence under President Bola Tinubu had triggered strong interest and produced a viable business case.
“Before we came in, Port Harcourt was a no-go area. Now, more than six investors were competing for it,” he said.
Biometric Boarding, Fire Trucks, Power Supply Systems Also Approved
The minister said the Council approved all eight memos submitted by the Aviation Ministry, including the procurement of 15 new firefighting vehicles for international airports in Abuja, Lagos, Kano, Port Harcourt and Enugu — in line with ICAO safety compliance.
Also approved is the procurement and installation of tertiary power supply across airports and at 14 VHF remote stations operated by the Nigerian Airspace Management Agency (NAMA), to strengthen uninterrupted navigation services.
FEC further granted full business approval for the rollout of biometric passenger verification systems across Nigerian airports. The system, which will link travellers’ National Identification Numbers (NIN) to boarding data, is expected to eliminate the use of fake identities and bolster national security.
“Too many anonymous people board planes with fake identities. With this system, we will confirm that the traveller is exactly who they claim to be,” Keyamo said.
NAMA Headquarters, Night Operations, and FAAN Property Protection
The Council also approved the construction of a permanent headquarters for NAMA in Abuja, following the relocation of the agency from Lagos, and approved contracts within the 2024 budget to deliver runway and perimeter lighting in select airports — enabling flights to operate until 10pm or 11pm instead of shutting operations at 6pm due to darkness.
Keyamo also announced a presidential approval blocking the sale of Federal Airports Authority of Nigeria (FAAN) property within airport environments to private individuals, describing airports as high-security zones where accommodation for fire, security and emergency staff is essential.
“This is a public announcement to those who claim to have bought airport properties: we will not release those assets,” he said, stressing that past disposals carried out under the Obasanjo administration had created lingering security risks.
The Nigeria Customs Service (NCS), Apapa Area Command, has completed the final test run of its newly installed scanning systems at APM Terminals, Apapa, a major step toward achieving fully paperless cargo clearance.
The simulation exercise, led by the Customs Area Controller, Comptroller Emmanuel Oshoba, on Thursday, 6 November 2025, marks the concluding phase before the scanners are deployed for full operations, underscoring the Service’s commitment to digital transformation and trade facilitation.
Comptroller Oshoba explained that the new technology synchronises scanned images with electronic declarations in real time, thereby eliminating physical documentation and significantly shortening cargo clearance timelines.
“We are now at the stage of 100 percent readiness. Once containers are scanned, the system automatically matches the images with the declarations”, he stated.
“There will be no need for physical paperwork. The analysis will be instant, and only consignments with discrepancies will require further checks.”
He added that each scanner is capable of processing up to 200 containers per hour, with scanned images transmitted directly to Customs headquarters in Abuja for monitoring and audit. This feature, he noted, would enhance transparency, strengthen compliance, and minimise the potential for clearance manipulation.
Officials from the Trade Modernisation Project (TMP), including the Scanner Manager, Deputy Controller Umar Madugu, and Stakeholder Engagement Lead, Bamidele Jinedu, acknowledged that resistance from operators accustomed to manual procedures could pose an initial challenge.
However, they emphasised that the transition to a fully digital clearance system would ensure accurate declarations, promote national security, and reduce the possibility of delays being attributed to Customs.
The Command is expected to announce the official commissioning date for the scanners upon completion of final reporting to the management.
Air travel across the United States descended into deeper uncertainty on Friday as the Trump administration directed airlines to cut scheduled operations at 40 major airports amid mounting safety concerns linked to the ongoing government shutdown.
The Federal Government mandate which took effect on Friday morning — requires airlines to immediately reduce flight volumes by four per cent, with the figure expected to climb to 10 per cent next week. The cuts will affect some of the nation’s busiest hubs including Atlanta, Newark, Chicago, Houston, Denver and Los Angeles.
Administration officials insist the extraordinary measures are driven strictly by aviation safety data, not political pressure.
“This isn’t about politics it’s about addressing building risk in the system,” US Transportation Secretary Sean Duffy said, dismissing criticism that the move is intended to force Democrats back to the negotiating table.
The shutdown, now in its sixth week and the longest in US history, has left tens of thousands of air traffic controllers, security agents and other federal aviation personnel working without pay or unable to work at all. Many in high-stress roles are reportedly calling in sick or taking second jobs.
According to FlightAware, more than 800 flights scheduled for Friday were cancelled. American Airlines said the directive would translate into roughly 220 cancellations daily, while Delta Airlines confirmed it was scrapping around 170 Friday flights. CNN reported that Southwest Airlines cancelled about 100 flights.
On Thursday alone, over 6,800 flights were delayed nationwide. Passengers at major hubs experienced long queues at security checkpoints, with average delays of more than two hours at Boston and Newark airports, and more than one hour at Chicago O’Hare and Washington’s Reagan National.
FAA Administrator Bryan Bedford said the agency was intervening to avert potential disaster.
“We’re not going to wait for a safety incident to manifest when early indicators are already telling us to act now,” Bedford warned. “In my 35 years in aviation, I have never seen anything like this.”
Peak Travel Season Under Threat
The directive comes barely weeks before Thanksgiving — traditionally the peak travel period in the United States — placing millions of travellers at risk of major disruption.
Despite the turbulence in the system, the administration maintains that flying remains safe.
“It’s safe to fly today, tomorrow and the day after , precisely because we are taking proactive steps,” Duffy posted on social media late Thursday.
Airlines say they are complying with the order, though carriers such as United and Delta have indicated that international routes and “hub-to-hub” operations should not be affected in the immediate term — suggesting regional domestic routes will bear the brunt of cancellations.
The federal shutdown — triggered by Congress’ failure to approve funding beyond 30 September — has paralysed multiple agencies. More than 1.4 million federal employees, from controllers to national park staff, are either working without pay or locked out of their workplaces.
Bedford described the moment as “new territory”.
“Then again, we’re in new territory when it comes to government shutdowns.” He added.
The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1440.00 per $1 on Friday, November 7th , 2025. The naira traded as high as 1434.00 to the dollar at the investors and exporters (I&E) window on Thursday.
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1455 and buy at ₦1440 on Thursday 6th November, 2025, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦1455
Buying Rate
₦1440
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
Highest Rate
₦1441
Lowest Rate
₦1434
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
