Global airline industry to produce net profit of $29.3 billion in 2020 – IATA

The International Air Transport Association (IATA) forecast that the global airline industry will produce a net profit of $29.3 billion in 2020, improved over a net profit of $25.9 billion expected in 2019 (revised downward from a $28 billion forecast in June). If achieved, 2020 will mark the industry’s 11th consecutive year in the black. Highlights of expected 2020 performance include: The return on invested capital is forecast to be 6.0% (improved from 5.7percent expected in 2019). The net profit margin is forecast at 3.4 percent (up from 3.1 percent…

Read More

We did not ban usage of Uber, Bolt, others at Lagos airport- FAAN

The management of the Federal Airports Authority of Nigeria, FAAN has dismissed an online report making the rounds that the Authority has placed a ban on the usage of Uber, Bolt and others at the Lagos airport. FAAN in a statement signed by the general manager, corporate affairs, Henrietta Yakubu (Mrs.) said that passengers and the general public are free to use whatever means or mode convenient to transport themselves to the Lagos and other airports in Nigeria. The Authority while dismissing the report on the ban of Uber, Bolt…

Read More

EFCC rearraigns ex-Lagos Speaker, Ikuforiji, P.A over alleged N388m fraud

The Economic and Financial Crimes Commission (EFCC) today, rearraigned a former Speaker of Lagos State House of Assembly, Right Honourable Adeyemi Sabit Ikuforiji alongside his Personal Assistant, Mr. Oyebode Atoyebi, before a Federal High Court, Lagos, for allegedly laundering millions of Naira. The rearraignment of both Ikuforiji and Atoyebi, was sequel to a Supreme Court judgment delivered in 2018, which ordered their retrial after it upheld an Appeal Court decision for their retrial for allegedly laundering the sum of N338m. Justice Ibrahim Buba, who is of the Lagos Division of…

Read More

NCAT to begin training courses on use of drones soon- Rector

The Rector of the Nigerian College of Aviation Technology, NCAT, Capt. Mohammed Abdulsalami has disclosed that the school would soon commence training on the use of the Remotely Piloted Aircraft Systems, (RPAS) otherwise known as drones. Abdulsalami said the move to introduce the course on the use of drones is in line with the mandate given to the college at the last RPAS symposium in Abuja in 2017. Speaking in Lagos on Wednesday, December 11, at the Gateway Forum organised by the League of Airport and Aviation Correspondent, LAAC, Capt.…

Read More

Abisogun Oniru Ruling family rejects nomination of Hakeem Ajasa, former Aregbesola’s ADC as new Oniru

The royal ruling family in Iruland, Victoria Island, Lagos, the Abisogun Oniru Ruling family, has protested and rejected the nomination of Mr. Hakeem Ajasa, a retired Chief Superintendent of Police (CSP) and former Aide-De- Camp to the immediate past governor of Osun State, Mr. Rauf Aregbesola, as the next Oniru of Iruland. Abisogun Oniru rejected and opposed the selection of Ajasa, as the next Oniru of Iruland on the ground that he is not from any royal family in Iruland. The family also stated that anyone to be the next…

Read More

Workbarn consulting kick starts initiative to help 500 young Nigerians secure jobs by 2020

Workbarn Consulting, a human resources and management consulting firm, has kick started a CSR initiative which aims to guide individuals to align their career goals for professional success. Tagged ‘CareerBantersWithIfeadi’, the initiative is the brainchild of Ifeadi Anigbogu, a human resources, advocacy and management professional. The first edition of the initiative was held recently at the Oriental Hotel, Victoria Island, Lagos. ‘CareerBantersWithIfeadi’ played host to over 30 young professionals who experienced intensive practical coaching sessions on how to get jobs and excel in their careers. Speaking on the initiative, the…

Read More

Police arraign BDC operator over $50.020m, N22m fraud

A Bureau De Change (BDC) Operator, Jude Muomah, has been arraigned before a Federal High Court, Lagos, for allegedly defrauding his two of his customers of the sum of $50, 020 million USD and N22 million. He was arraigned before Justice Oluremi Oguntoyinbo led-court on seven counts charge bordering on stealing and obtaining under false pretence. The defendant and others were alleged to have committed the offence on May 25, 2019, at 10, Olawaiye Street, Anifowoshe, Ikeja, Lagos. Arraigning the defendant before the court, the prosecutor, Mr. Morufu Animashaun, the…

Read More

Stanbic IBTC pensions harps on benefits of data recapture exercise

In order to enhance seamless operations and improve customers’ experience, Stanbic IBTC Pensions Managers Limited has enjoined employers to ensure that their employees participate in the on-going Data Recapture Exercise being undertaken for the company’s enrollees. Speaking at the Stanbic IBTC Pension Employers’ Forum held recently in Abuja, Mr. Eric Fajemisin, Chief Executive, Stanbic IBTC Pension Managers Limited (SIPML), urged employees to always update their information with their Pension Fund Administrators to facilitate easy access to their retirement benefits. Fajemisin stressed that organisations should encourage their employees to leverage the…

Read More

Arik Air fleet receives massive boost as 2 aircraft arrive from C-Check

…. set for Christmas season Arik Air received two aircraft from C-Check over the weekend, thereby boosting the operations of the airline in the coming festive season. The two aircraft include a Q-400, while the Boeing 737-800 check was conducted by Lufthansa Technik AG in Malta. Over the last two years the current management has been working hard to improve the number of serviceable aircraft in the airline ’ s fleet. The efforts are yielding results. The Arik fleet are nearly mid – life and such require major overhaul of…

Read More

3 people charged for defrauding Celestial Church of N85.9m

Two men, John Rotimi Omotosho, Boye Olaniyan and a woman, Folashade Ogundipe, have been charged before a Federal High Court, Lagos, for allegedly defrauding the headquarters of Celestial Church of Christ, Imeko Cathedral, Ogun State, of the sum of N85, 914, 500 million. Omotosho, Olaniyan and Ogundipe, were charged before the court alongside a company, Folafunmi Integrated Limited, on four counts charge of conspiracy and obtaining under false pretence, by the men of Force Criminal Intelligence and Investigation Department (ForceCIID), Alagbon, Ikoyi Lagos. The police in a charge marked FHC/L/226c/2019,…

Read More