DECEMBER 20, 2023

BY  Leen Al-Rashdan and William Shaw, Bloomberg News

(Bloomberg) -- Ethiopian Airlines Group secured a $450 million loan from Citigroup Inc. to finance five new Boeing Co. aircraft as Africa’s largest carrier looks to expand its fleet in the coming decade. 

Ethiopia’s flagship carrier will use the funds to purchase three 737 Max aircraft and two 777 freighters from Boeing, according to a statement on Tuesday. The planes will be delivered in December and will expand the airline’s fleet to 150 aircraft. 

Ethiopian placed orders with both Airbus SE and Boeing for around 40 planes in November as part of its ambitious plans to nearly double its fleet in the next 12 years to more than 270 aircraft and fly to over 200 airports across the world. 

“Fleet expansion being one of our strategic growth pillars, we will continue expanding and modernizing our fleet size so as to grow our business and reach new markets,” Ethiopian Chief Executive Officer Mesfin Tasew Bekele said in the statement. 

For Citigroup, the loan is part of the bank’s efforts to expand its business across the continent of Africa. Though it does not have a physical office in Ethiopia, the company remains the only US bank providing correspondent banking in the country, according to the statement. 

“A lot of work has gone into getting this deal off the ground,” Akin Dawodu, Citigroup’s head of sub-Saharan Africa, said in the statement. “Citi has been serving Ethiopian Airlines for many decades, and we are pleased to support its growth with financing.”

DECEMBER 20, 2023

Many of the Nigerians are unable to return home because they lack the means to come back, while others are ashamed, he added.

By Chiamaka Okafor

Over 1,000 Nigerians are stranded in the UK after receiving fake employment letters, the UN migration agency in Nigeria disclosed.

According to Vanguard newspaper, IOM’s Chief of Mission in Nigeria, Laurent De Boeck, disclosed this in Abuja on Monday where he advised potential migrants to be cautious of a syndicate that specialises in offering fake employment letters to Nigerians seeking to work in the UK.

He said the victims of this syndicate, which was not named, on presenting the employment letters to the organisations in the UK are told the letters did not come from them.

“There are some of them who lost over $10,000 only to be given fake employment letters, which allowed them to get visas. They get there, present the letters, and the organisations tell them that the letters did not emanate from the organisations. Over a thousand people are affected,” Vanguard quoted Mr De Boeck as saying. Many of these people are unable to return home because they lack the means to come back, while others are ashamed, he added.

The agency also announced that it is working with partners to repatriate thousands of persons, including Nigerians, from Tunisia, which recently placed a ban on migration.

It is also working extensively with Italy to develop regular migration pathways for qualified Nigerians.

Mr De Boeck encouraged Nigerians to seek out proper information before migrating, adding that at least 260,000 Nigerians had approached it in 2023, seeking guidance on how to migrate through regular or approved routes.

DECEMBER 20, 2023

BY  Ania Nussbaum and Lyubov Pronina, Bloomberg News

Left-wing coalition NUPES members of parliament hold signs reading "Liberte", "Egalite", "fraternite" French for 'liberty, equality, fraternity', the national motto of France, following the vote and the approval of the draft law to control immigration, at the French National Assembly in Paris on December 19, 2023. Photographer: Ludovic Marin/AFP/Getty Images , Photographer: LUDOVIC MARIN/AFP

(Bloomberg) -- French lawmakers passed a toughened version of President Emmanuel Macron’s immigration bill, making France the latest European Union country to shift to the right as the bloc hardens its rules on migrants.

The vote, which followed a week of tense talks to reach a compromise that was palatable to conservatives, came just hours before the EU agreed an overhaul of its asylum procedures.

Policymakers are trying to balance measures strong enough to address voter concerns about the surge in migration without allowing their agenda to be hijacked by far-right groups who have been capitalizing on the issue. At the EU level, there have been longstanding tensions with border states such as Italy and Greece, who say they face a disproportionate burden because so many migrants heading for richer countries like Germany arrive on their shores.

Under the new EU rules, member states can choose between hosting asylum applicants and making financial contributions. There will also be improved identification at arrival, including facial images and fingerprints, covering children from the age of six, as well as mandatory security and health checks for people entering irregularly.

In a sign of how divisive the subject has become in France, all 88 lawmakers in Marine Le Pen’s far-right National Rally backed the bill, while 59 in Macron’s group either voted against or abstained. It passed by 349 to 186 in the lower house.

“I have the feeling of a job done,” Prime Minister Elisabeth Borne said on France Inter radio on Wednesday. “Two goals: remove those who don’t have the right to be in France as fast as possible and better integrate those we decide to welcome.”

The result closes a difficult chapter for the president after the government was pushed into sending the text to a cross-party group of lawmakers dominated by the right-wing Republicains to thrash out a compromise. France is among several European countries moving right on immigration.

With more than 1 million irregular arrivals registered in the EU since 2015 — including more than 250,000 this year alone — migration is reshaping the bloc’s politics and providing fuel to right-wing parties. The recent successes of Italy’s Giorgia Meloni, the Netherlands’ Geert Wilders and the Alternative for Germany show how more people are being drawn to nationalist, identitarian policies, while traditional right-wing parties are struggling to remain relevant on immigration.

France’s Le Pen claimed an “ideological victory.” This is also reflected in the polls, with an Ifop survey of voting intentions in next June’s European elections putting her party far out in front on 30% last week.

Some countries, including Germany, have taken unilateral measures this year to tighten controls at their borders as more people, particularly from the Middle East and Africa, flee violence and poverty.

German Chancellor Olaf Scholz said in a post on social media platform X that Wednesday’s announcement was a “very important decision.”

“After long discussions, Europe has finally agreed on a joint European asylum system,” he wrote. “With it, we are limiting irregular migration and relieving the burden on states that are particularly affected - also Germany.”

The tentative deal between EU member states and the European Parliament, which was clinched after two days and two nights of intense negotiations, still needs to be approved formally by both groups. A number of technical details also need to be worked out in the coming weeks.

In France, Macron had sought to balance a tougher stance that makes it easier to expel illegal migrants with a plan to streamline bureaucracy for undocumented workers in sectors that struggle to hire. Les Republicains, whose support Macron needs after losing his majority in parliament last year, demanded tougher conditions.

The hardened version waters down a provision in the initial draft that would have created a path to legal status for undocumented migrant workers in sectors struggling to recruit such as restaurants and construction. The measure was staunchly opposed by the right. Still, Interior Minister Gerald Darmanin said an extra 10,000 undocumented workers would get their papers each year.

The head of business lobby Medef, Patrick Martin, warned before the vote that France will have massive labor needs in the coming years.

“That’s what’s frustrating us, no one is asking the most essential question: Will we need migrant labor?” he said on Radio Classique.

--With assistance from Jenny Che.

DECEMBER 23, 2023

Plans requiring people to earn £38,700 a year before bringing family to the UK will be introduced in early 2025, Rishi Sunak has said.

The rise from the current £18,600 level was announced earlier this month and had been scheduled for the spring.

However, the government has rowed back and now says the increase will come in two stages.

Next spring, the threshold will rise to £29,000, with the further increase not applying until the following year.

Speaking in Lincoln, Mr Sunak defended the timetable, saying: "The principle here is absolutely right that if people are bringing dependants into this country as part of their family, they must be able to support them.

"We're doing exactly as we said we would. We're just doing it in two stages. So it will go up in a few months time and then it will go up again the full amount in early 2025."

He added: "The levels of migration are far too high. They've got to come down."

The next general election has to be held by January 2025, meaning Labour will face close questioning about its position on the proposed rules.

Official estimates indicate net migration - the difference between the number of people coming to and leaving the UK - rose to a record 745,000 in 2022.

In a bid to reduce the number, the government announced earlier this month it would be changing the rules for family visas alongside other measures including foreign workers having to earn at least £38,700 to qualify for a UK skilled worker visa.

Ministers had faced criticism that the increase from £18,600 to £38,700 for family visas was too high and would disrupt households.

The BBC also understands there were concerns that changing it all at once could leave the government more vulnerable to legal challenges.

On Thursday, ministers announced the threshold would rise only to £29,000 in the spring before increasing to £38,700, but gave no further timetable.

However, on Friday Mr Sunak provided more details when he said the figure would rise to the full amount in early 2025.

A spokesman for former immigration minister Robert Jenrick, who quit the government earlier this month over Mr Sunak's approach to illegal migration, said the new visa rules "need to be implemented immediately".

"Otherwise there risks being a fire sale of visa applications" as people tried to enter the country under the current system, he added.

The Home Office has confirmed that anyone who wants to renew a family visa will be able to, without having to meet the new earnings threshold.

A government factsheet said those who already had a family visa within the five-year partner route, or who applied before the minimum income threshold was raised, would continue to have their applications assessed against the current income level.

Official statistics show that 82,395 family-related visas were issued in the year to September - 79% to partners, 13% to children and 8% to other relatives.

A policy document said the new £29,000 threshold could contribute a "low tens of thousands" cut towards the government's overall target of reducing legal migration by 300,000 this year.

Speaking to BBC Radio 4's Today programme, Madeleine Sumption, director of the University of Oxford-based Migration Observatory, said £29,000 was still "quite restrictive" compared with levels in other European countries and that £38,700 was "unusually high".

Labour's shadow home secretary Yvette Cooper said the government had "failed to consult anyone on their new proposals and took no account of the impact of steep spousal visa changes on families next year, so it's no surprise they are now rowing back in a rush".

'It's affected me immensely'

Ruby told the BBC the £29,000 threshold was too high and could stop her husband Furkan, who's in Turkey, coming to live with her in Plymouth.

She said: "[I'm] still £5,000 of short of what the requirement is now," despite already changing her job for the visa requirement - moving from being self-employed to a £23,000 a year job as a veterinary receptionist to show she has steady income to support her husband's visa application.

"I think it's cruel on so many approaches," she said. "When I first heard I was beside myself... to just change it has affected me immensely so much.

"I have lived here all my life, my family are here, I should be entitled to having a family life just like everyone else."

Cam has been with his American wife for four years and had been hoping she would be able to join him in London.

He earns £36,000 and had planned to make his application in March - after enough time to show he had a stable income - but was uncertain he would make it through before the new threshold came into force in the spring.

Responding to the government's decision to introduce the rise in stages, he told the BBC: "On a personal level, it's a big relief knowing that even if [the income threshold] does change before we can apply, we'll still meet the requirements. Hopefully everything will be fine.

"However I know a lot of couples, a lot of families, will still be feeling a lot of stress and a lot of pressure because they still won't be able to meet those requirements."

British citizen Josie lives with her Italian husband in Ancona, Italy. The couple - both scientists - married in December 2020 and were planning on moving to the UK to settle.

Speaking to the BBC's World at One programme, Josie said that despite the delay in introducing the £38,700 threshold, she was still not certain about returning to the UK.

"Given the flipflopping around of policy decisions, it doesn't give us much confidence - it is a shame because the UK is a great place to be as a scientist."

DECEMBER 24, 2023

By Ogaga Ariemu

The Naira dropped against the US dollar at the foreign exchange markets on Friday as corporate businesses closed for the Christmas celebration in Nigeria.

Official data from FMDQ showed that the Nigerian Naira weakened against the US Dollar by falling 2.71 per cent to N885.88/$1.

Naira’s loss on Friday represented an N23.97 or 2.71 per cent depreciation compared to its Thursday close of N861.91.

Similarly, the Naira depreciated in the parallel forex market, where forex is sold unofficially.

Accordingly, the exchange rate at the parallel market depreciated by 0.16 per cent, quoted at N1230/$1, while peer-to-peer traders quoted around N1163,35/$1 on Friday.

This comes on the heels of a 22 per cent drop in forex turnover to $92.16 million.

The implication for Nigerians this Christmas is that more money will be spent on Dollar-related purchases.

Since 14 June 2023, when the apex bank introduced FX reforms, Naira has continued fluctuating in the forex market.

However, the Governor of CBN, Olayemi Cardoso, recently assured Nigerians that the Naira is expected to strengthen at FX market in 2024.

DECEMBER 25, 2023

By Sulaimon Salau

The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi, has unveiled plans of massive installation of scanners at the country’s seaports with the ultimate goal of facilitating better trade.

Adeniyi disclosed this when he hosted a dinner for diplomats that included the British High Commissioner to Nigeria, ambassadors of the United States of America and Germany, representatives from the United Nations Office on Drugs and Crimes, and the World Bank at the NCS headquarters in Abuja.

Addressing the envoy, Adeniyi emphasised the NCS’s commitment to leveraging new technological advancements in its operations. He said: “Now that we have a new government, we have a lot of explanations to make to all the stakeholders. We have a responsibility to carry out massive sensitisation on the Nigeria Customs Service Act 2023.”

The Customs boss underscored the act’s focus on automation processes, the use of a single window and authorised economy operators’ system, incorporating advanced ruling, and expanding the use of scanners, signaling a move towards modernisation.

Commenting on wildlife smuggling, Adeniyi assured the diplomats of his commitment to sustain the battle against illicit wildlife trade in Nigeria. While highlighting the need for collaborative efforts among stakeholders, he specifically pointed out the importance of international cooperation in customs activities.

The diplomats praised the NCS’s dedication and pledged better collaboration to combat wildlife trafficking and related criminal activities. The dinner, also attended by members of the Customs’ management team served as a platform for fostering collaboration and understanding between the NCS and the representatives of the international community.

DECEMBER 25, 2023

By Ogaga Ariemu

The Naira dropped against the US dollar at the foreign exchange markets on Friday as corporate businesses closed for the Christmas celebration in Nigeria.

Official data from FMDQ showed that the Nigerian Naira weakened against the US Dollar by falling 2.71 per cent to N885.88/$1.

Naira’s loss on Friday represented an N23.97 or 2.71 per cent depreciation compared to its Thursday close of N861.91.

Similarly, the Naira depreciated in the parallel forex market, where forex is sold unofficially.

Accordingly, the exchange rate at the parallel market depreciated by 0.16 per cent, quoted at N1230/$1, while peer-to-peer traders quoted around N1163,35/$1 on Friday.

This comes on the heels of a 22 per cent drop in forex turnover to $92.16 million.

The implication for Nigerians this Christmas is that more money will be spent on Dollar-related purchases.

Since 14 June 2023, when the apex bank introduced FX reforms, Naira has continued fluctuating in the forex market.

However, the Governor of CBN, Olayemi Cardoso, recently assured Nigerians that the Naira is expected to strengthen at FX market in 2024.

DECEMBER 26, 2023

By Joshua Odeyemi

The Federal Government has instructed that Nigerians with expired passports who are planning to return to the country to celebrate the yuletide be allowed in without any hindrance.

In a letter dated 22nd December 2023 by the Comptroller General of the Nigeria Immigration Service (NIS), Wura-Ola Adepoju, to the Minister of Foreign Affairs, Yusuf Tuggar, through the Office of Assistant Comptroller General, Border Management, the NIS asked that Nigerians “be admitted into the country with their expired Nigerian passports”.

“l am directed to refer to the above subject matter and to inform you that the Federal Government of Nigeria in her efforts to make life easy for Nigerians in the diaspora has approved that all Nigerians returning home can be admitted into the country with their expired Nigerian passports.

“I am further directed to inform airlines coming to Nigeria to allow holders of Nigeria expired passports to board without let.

“In furtherance to the foregoing, all Nigeria Embassies and High Commissions are advised to give this directive the highest publicity it deserves.

“Consequent upon the above, all entry/exit points are by the copy of this letter directed to open a help desk for all Nigerians in this category and directed same to passport offices where their passports will be reissued within a maximum of two (2) weeks,” the letter sighted by Daily Trust stated in part.

Meanwhile, the media aide to the Minister of Foreign Affairs, Alkasim Abdulkadir, could not confirm the receipt of the letter, adding that he was not in the office at the moment.

The phone number of the NIS spokesperson, Dotun Aridegbe, did not connect when the Daily Trust correspondent called to confirm the authenticity of the letter.

However, a reliable source at the NIS who wouldn’t want to be named confirmed that the policy was not new as the Federal Government did the same last year.

DECEMBER 26, 2023

By Funmilayo Fabunmi

The President of the National Association of Nigerian Travel Agencies, Mrs Susan Akporiaye, has welcomed the Federal Competition and Consumer Protection Commission’s plan to investigate airfare pricing in Nigeria.

NANTA had called on the Federal Ministry of Aviation, Nigeria Civil Aviation Authority, and the National Assembly Committee on Aviation to wade into the issue of exorbitant airfares in the country that had made life difficult for the members of Nigerian travelling public and impacting negatively the survival of travel trade professionals in the country.

According to Akporiaye, NANTA is elated by the response of the Federal Government through its consumer protection and regulatory agency to wade into the matter.

In a recent interview, the NANTA president said, “We want to appreciate the government through the Executive Vice Chairman of FCCPC,  Babatunde Irukera, who has assured the sector that investigations would commence into the present structure of airfares in Nigeria and bring it to an acceptable regime,” she stated.

Akporiaye described Irukera’s announcement as “a Christmas and New Year gift” to travel agents, who had borne the backlash of the fare hike by airlines operating in the country.

“This is it, and we want to appreciate Mr President for gifting us an FCCPC, headed by a thorough professional. And to this end, we will endeavour to help the regulatory authority with whatever information that can help bring back sanity to fare management issues and give some respite to our Nigerian customers,” she said.

Irukera had on Thursday in Abuja, while hosting the press to the end-of-year party, promised to run a detailed investigation into the high airfare regime in Nigeria.

He explained, “There’s a provision in law against price gouging. Nigeria is a free market economy where the buyer and seller agree to determine cost. Do we, as a regulator, have the power to impose prices? No, we don’t. So, one way to determine excessive pricing is through investigation.”

The FCCPC boss revealed that forensic studies in airfare pricing remained the most complex in the market investigation ecosystem, adding that it was possible to travel at a short distance and pay more, even with someone sitting beside you, paying something different.

Describing the phenomenon as a “competition issue,” Irukera noted that there were many issues that must be considered when investigating hikes on airfare.

“We believe that airfare in Nigeria is too high, but it will amount to an abuse of office by the regulatory authority to take action just because we feel the price is high. Our duty is to establish evidence and confront the body, and that’s hard work,” the FCCPC boss clarified.

DECEMBER 26, 2023

BY  April Roach, Bloomberg News

(Bloomberg) -- Airlines are hoping the latest saga around Amsterdam Schiphol Airport’s summer capacity is now finally resolved.

The airport has decided to allow for more flights next summer on the condition that airlines help to reduce air traffic at peak times during the busy season. 

The Amsterdam hub and the Dutch state have prompted backlash from industry stakeholders with constant back and forth on capacity. Earlier this week, Schiphol said that it may have to cut capacity next summer despite the government having already walked back its plan to reduce flights by 8%. 

Schiphol is planning to provide capacity for 293,000 flights for the summer season and a total of around 483,000 flights for the full year, it said in a Thursday statement. Airlines are expected to voluntarily indicate how they might help reduce the number of flights during peak times. 

“More flights are now possible, but this is only safe and responsible provided we reduce pressure on certain peak hours,” said Patricia Vitalis, executive director of operations at Schiphol. “The busy peak times require a major effort from the entire aviation sector and the involved government partners.” 

The Dutch government was forced to abandon its plan to cap flights at 460,000 after facing pressure from the European Union as well as the US government, which threatened to retaliate over JetBlue Airways Corp.’s expulsion as part of the cutbacks.

The Dutch arm of Air France-KLM said in a separate statement that it was “pleased” with Schiphol’s announcement, adding that it has just three months to make the necessary arrangements instead of the usual six.