Category: Business

Aviation Disasters: Travelers Turn to Prayers as Crisis Deepens

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A series of recent near-crash incidents has heightened safety concerns among air travelers, prompting some to switch to road travel while others rely on prayer before flights. 2024 has been a particularly turbulent year for the Nigerian aviation industry, with numerous incidents occurring between January 2024 and January 2025, despite regulatory efforts to improve the country’s aviation standing. Within this 13-month period, at least ten incidents have demanded public and regulatory attention, ranging from fatal helicopter crashes to aircraft skidding off runways and emergency landings due to technical issues. Several…

NANTA to Operators: Address Rising Aircraft Incidents

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Yinka Folami, President of the National Association of Nigeria Travel Agencies (NANTA), has voiced his deep concern regarding the recent spate of near-crash incidents plaguing the Nigerian aviation industry. He emphasized the critical need for collaborative action, urging stakeholders, particularly the Nigerian Civil Aviation Authority (NCAA) and airline operators, to unite and comprehensively address all safety concerns to safeguard the traveling public. Folami stressed in a statement that prioritizing the safety of the operational ecosystem is paramount for the well-being of passengers. This call to action comes amidst a series…

NIQS partners Julius Berger for infrastructure excellence

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  The Nigerian Institute of Quantity Surveyors (NIQS) Foundation has established a partnership with Julius Berger Nigeria Plc, recognizing the construction firm’s significant contributions to infrastructure development and the shaping of Nigeria’s built environment. Olusegun Ajanlekoko, Chairman of the Board of Trustees for the NIQS Foundation, emphasized the organization’s commitment to collaborating with industry leaders during a courtesy visit to Julius Berger. He explained that the foundation, an offshoot of the NIQS, was created to extend its impact on society and seek partnerships with like-minded organizations, with Julius Berger being…

Federal Government Announces Imminent Resumption of ALSCON Production

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The Federal Government has announced that the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, is poised to resume production soon. This announcement came after a visit to the plant by the Minister of Steel Development, Prince Shuaibu Abubakar Audu. The Minister expressed satisfaction with the condition of the equipment and facilities, despite the plant’s decade-long shutdown, signaling a renewed commitment to revitalizing this key industrial asset. Minister Audu outlined several key steps being taken to facilitate ALSCON’s reopening. He emphasized that ongoing consultations and stakeholder…

Senator Calls for Immediate MFB Integration to Address Agric Credit Gap

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BREAKING: Senate Approves President Tinubu’s $2.2 Billion Loan Request

Senator Okechukwu Ezea, representing Enugu North Senatorial District, has advocated for the integration of microfinance banks (MFBs) into agricultural and rural credit programs. Speaking at a recent constituency meeting in Nsukka, Enugu State, Senator Ezea emphasized the importance of improved access to rural finance and believes MFBs can play a crucial role in achieving this goal. He highlighted data from the Central Bank of Nigeria showing that MFBs account for the vast majority of bank loans, demonstrating their significant reach and involvement in providing credit. Senator Ezea argued that incorporating…

CBN Clears $7bn FX Backlog, Boosting Market Confidence  

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Central Bank of Nigeria Governor, Olayemi Cardoso, announced Wednesday that the government has resolved the long-standing $7 billion foreign exchange backlog. Following a forensic audit, verified claims have been settled, paving the way for businesses, multinational corporations, and foreign investors to repatriate funds without hindrance. Cardoso made the announcement at the launch of Nigeria’s Regulatory Policy Framework, hosted by the Presidential Enabling Business Environment Council (PEBEC) in Abuja. He acknowledged the delays in resolving the backlog, attributing them to past irregularities, and emphasized the government’s commitment to strengthening the market…

Max Air’s Operations Suspended by NCAA for Three Months After Kano Incident

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The Federal Government, via the Nigeria Civil Aviation Authority (NCAA), has suspended Max Air’s domestic flight operations following a tire burst incident involving one of its Boeing 737-400 aircraft (registration number 5N-MBD) at Mallam Aminu Kano International Airport on Tuesday, January 28, 2025, at approximately 10:51 p.m. The aircraft, carrying 53 passengers, experienced the tire burst upon landing. While all passengers were safely evacuated, the incident caused a temporary grounding of the aircraft and the closure of the runway until approximately 8:00 a.m. on Wednesday. This incident marks the third…

Countries affected by the regional internet blackout

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Countries affected by the regional internet blackout A severe internet outage that is now plaguing several countries in the region is interfering with e-commerce and connection in those countries. This unplanned interruption has hurt both individuals and businesses by raising questions about the reliability and consistency of the internet network in the affected countries. The following nations are impacted by this network outage: Ivory Coast (Severe) Liberia (Excellent) Benin (Excellent) Ghana (Excellent) Burkina Faso (Excellent) Cameron (Medium) and Togo (Medium) Gabon (Middle) Namibia (Middle) Niger (Middle) Nigeria (Deep) Lesotho (Min)…

First-ever Providus Bank sponsors The Providus Hive

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First-ever Providus Bank sponsors The Providus Hive Providus Bank is pleased to present the highly awaited Providus Hive Fest, which will be held at The Balmoral Palace from the 31st of March to the 1st of April 2024. Meet Circo, the online networking platform that elevates African producers and content. Company Introducing Circo: the web-based platform that offers reserved usernames exclusively and elevates African content creators and content. Featuring over 150 exhibitors displaying the best in fashion, cuisine, and beauty, this fascinating event offers to be an expression of innovation,…

Wigwe’s Death: Aig-Imoukhuede Emerges As New Access Holdings Chairman

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Wigwe’s Death: Aig-Imoukhuede Emerges As New Access Holdings Chairman Access Holdings Plc (‘the Holdco’) has appointed Aigboje Aig-Imoukhuede, the former group managing director/CEO of Access Bank Plc, as its non-executive chairman. The company secretary, Sunday Ekwochi, announced that Aig-Imoukhuede will take over from Abubakar Jimoh.  Jimoh will continue to serve on the Board as an independent non-executive director. Aig-Imoukhuede, known for his visionary leadership and impressive track record, is expected to bring a wealth of expertise and guidance to lead the group toward a new era of success. The statement…