‎‎NAF RECEIVES FIVE NEW HELICOPTERS AS FG ACCELERATES AIRPOWER MODERNISATION. (PHOTO).

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 ‎‎NAF RECEIVES FIVE NEW HELICOPTERS AS FG ACCELERATES AIRPOWER MODERNISATION ‎ The Nigerian Air Force (NAF) has taken delivery of five new helicopters as the Federal Government accelerates efforts to modernize Nigeria’s airpower capabilities and strengthen the Armed Forces’ capacity to respond effectively to contemporary security challenges.  ‎ ‎A statement by the Director of Public Relations and Information Air Commodore Ehimen Ejodame indicates that the platforms comprise three AW-109 Trekker B helicopters  and two H-125 helicopters. ‎ The three AW-109s, which form part of 10 recently acquired by the Federal Government, were received in Lagos on 15 September 2026, with the remaining seven expected to be delivered before the end of 2026. ‎ ‎The Chief of the Air Staff, Air Marshal Sunday Aneke, described the acquisition as another significant milestone in the Federal Government’s sustained investment in the modernization and re-equipment of the NAF noting that the new pl...
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REPS APPROVE FINANCE MINISTRY AMENDMENT BILL FOR SECOND READING. (PHOTO).

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 Reps Approve Finance Ministry Amendment Bill for Second Reading


The House of Representatives on Tuesday passed for a second reading a Bill aimed at repealing the Ministry of Finance Incorporated Act of 1959 and replacing it with the Ministry of Finance Act of 2024.


Leading the debate on the Bill's general principles, Ademorin Kuye explained that the Ministry of Finance Incorporated (MoFI) was established in 1959 by an Act of Parliament to act as the sole custodian of Federal Government assets across the country. However, Kuye pointed out that since its inception, MoFI has failed to function effectively due to issues such as asset mismanagement, diversion, and abuse.


Kuye emphasized that the 1959 Act, which consists of only six sections, is outdated and lacks the framework necessary for MoFI to operate efficiently in modern Nigeria. He highlighted that the proposed new Act would introduce a comprehensive framework with 49 sections, addressing the conduct, management, and custodianship of Federal Government assets.


He further explained that, if enacted, the Bill would revitalize MoFI by establishing a robust institutional framework, improving its corporate governance, and outlining its organizational structure. The Bill aims to ensure better ownership, accountability, and management of federal assets, as well as to empower the corporation to contribute to economic growth through efficient asset management, preventing abandonment and misappropriation.


Kuye also noted that the Bill would provide a strong legal foundation for creating a national corporation capable of managing and optimizing over N300 trillion worth of federal assets. This would be achieved by granting MoFI specific powers and ensuring that its board is properly incentivized.

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