Top-Stories Archives - Nigerian Frank News

Air Peace emerges airline of the year, pledges to sustain standards

January 18, 2019 franknews

Photo Caption: Air Peace Corporate Communications Manager, Mr. Chris Iwarah receiving the carrier’s Airline of the Year 2018 Award from the Chairman of Independent Awards 2018, Engr. Mansur Ahmed (left) during the event in Lagos on Thursday, while Air Peace Assistant Customer Relations Manager, Mrs. Patricia Ebilah looks on Air Peace on Thursday pledged to sustain its high safety standards and continue to strive to bring Nigeria honour in the global aviation industry after emerging Airline of the Year at Independent Awards 2018 held in Lagos. Organisers of the awards,…

AMCON dismisses reports on debt profile of Nwankwo Kanu’s Hardley Apartments as inaccurate

January 17, 2019 franknews

The Asset Management Corporation of Nigeria (AMCON) has dismissed media reports on the debt profile of Nwankwo Kanu’s Hardley Apartments, describing the reports as inaccurate stories that are sponsored and published in the media to mislead the public and whip up sentiments for former Super Eagles player, Mr. Nwankwo Kanu. A statement signed by Mr. Jude Nwauzor, Head, Corporate Communications, the Corporation was quoted to have said, “AMCON is not in the habit of joining issues with obligors on the pages of the newspapers especially when the matter is…

Police arraign father, son over N44.3m fraud

January 16, 2019 franknews

A 62 year-old man, Adeyanju Gbadegesin Louis, and his son, Mark Oluwaseun Adeyanju, were today, arraigned before an Igbosere Chief Magistrate’s Court, Lagos, for allegedly defrauding an agricultural firm, ‘Than Farm Limited of the sum of N44, 844, 450 million, under the pretence of supplying the company cashew nuts. Both the father and son alongside their company, Society Adeglobal Resources, located at Plot C55, Amuwo-Odofin Industrial Estate, Lagos, were arraigned before Chief Magistrate O. O. Oshin (Mrs), on two count charges of obtaining the said sum under false pretence and…

Investors shows keen interest in Arik Air – receiver manager

January 16, 2019 franknews

.. Says airline operationally sound, professionally run The Receiver Manager, Arik Air, Mr. Oluseye Opasanya, has stated that local and foreign investors are showing keen interest in Arik Air following its impressive performance under Receivership in the last two years Opasanya said Arik Air under receivership is operationally sound, professionally run, safe and will continue to be a major and dominant carrier in the aviation industry Responding to a publication concerning the airline’s performance under Receivership, Opasanya noted that Arik Air has recorded impressive performance. Opansanya described the article as…

Delta Air Lines announces pre-tax income of $1.2b for Dec. quarter

January 15, 2019 franknews

Delta Air Lines has reported financial results for the December quarter and full year 2018 including both GAAP and adjusted metrics. Adjusted pre-tax income for the December quarter 2018 was $1.2 billion driven by over $700 million of revenue growth, allowing the company to fully recapture the $508 million increase in adjusted fuel expense and produce an 11 percent adjusted pre-tax margin. Adjusted earnings per share increased by 42 percent year over year to $1.30. For the full year, adjusted pre-tax income was $5.1 billion, a $137 million decrease…

AGF charges Ceecon Energy Oil & Gas boss for N2.066bn fraud

January 15, 2019January 15, 2019 franknews

The Attorney-General of the Federation (AGF) has charged an oil marketer, Chima Anyaso alongside his company, Ceecon Energy Oil and Gas Limited, before a Federal High Court, Lagos, on a three count-charge bordering on forgery and N2,066,400 billion fraud. AGF in charge marked FHC/L/332c/18, alleged that the oil marketer of 16, Babatunde Dabiri Street, Lekki Phase with company’s Cooperate office located at third floor of Worth Plaza, of Olaza 307, Suit 301, Adeola Odeku Street, Victoria Island, Lagos, was alleged to have committed the offence on or about February 21,…

NAMA unveils new ILS at Benin Airport

January 15, 2019 franknews

Economic activities in the ancient city of Benin, the Edo State capital have received a boost following the commissioning of Category II Instrument Landing System (ILS) at the Benin airport recently installed by the Nigerian Airspace Management Agency (NAMA). Making this revelation at a town hall meeting with staff at the agency’s headquarters annex in Ikeja Lagos, the managing director of NAMA, Capt. Fola Akinkuotu said this was in line with an earlier pledge by the agency to upgrade navigational infrastructure in strategic airports across the country in a bid…

Our new terminals are cost effective, will open employment opportunities for Nigerians

January 15, 2019 franknews

Our new terminals are cost effective, will open employment opportunities for Nigerians By Simon Nkeonyasuwa With ASKY starting operations from the Nnamdi Azikiwe International Airport, Abuja and Lufthansa set to commence from Port Harcourt International Airport, Omagwa in no distant time, two of the four terminals funded through $500 million by the Chinese EximBank loan with counterpart funding of $100million from the Federal Republic of Nigeria are being put to use. When the Kotoka International Airport Terminal 3 in Accra, Ghana was commissioned in September, a lot of Nigerians went…

Ecobank witness reverses self in N5.5b debt case against Honeywell Group

January 14, 2019January 14, 2019 franknews

A defence witness in the hearing of the legal tussle between Honeywell Group of Companies and Ecobank Nigeria PLC over a disputed N5.5 billion Debt today reverses himself from the earlier evidence he gave on Friday when he admitted that the payment of N3.5billion concessionary payment granted to Honeywell Group was tied to the exit of the Central Bank of Nigeria, CBN Examiners from the bank. At the resumed hearing of the matter today, Mr Elemi Agbor a staff of Ecobank Nigeria under cross examination from Honeywell counsel, told Justice…