AMCON injected ₦50billion to stabilise aviation, urges FG to bailout sector over covid-19

Asset Management Corporation of Nigeria (AMCON) said it has injected around N50billion into the aviation sector solely to stabilize airline operations in the country between 2012 and 2020. This was disclosed on Wednesday by Mr. Aminu Ismail, the executive director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about $1 billion Non-Performing Loans (NPL’s) from Nigerian banks owed by major Nigerian airlines including Aero Contractors, Arik Air amongst others. Although the aviation sector accounts for around 8 per cent of AMCON’s restructuring portfolio, Ismail explained that…

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Ethiopian Airlines not contracted to evacuate Nigerians from Canada- GM Mekonnen

Contrary to reports that Ethiopian Airlines has been given the go ahead order to evacuate Nigerians from Canada by the Canadian Embassy, the management of the Airline has stated that the airline is not yet contracted to evacuate Nigerians from Canada. The Airline explained in a statement signed by the general manager in Nigeria, Mrs Firihewot Mekonnen that it only evacuated 187 Canadians and resident permit holders from Nigeria on 21 May from Lagos airport on B787 to Addis Ababa onward transfer to Canada. Mekonnen said Ethiopian Airlines has been…

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UK Government announces three more charter flights for British travellers

Hundreds more British travellers are set to return home from Nigeria on three flights chartered by the UK Government. More than 1,700 British travellers have already returned to the UK on special charter flights in April and May – from Lagos and Abuja. Details of the new flights are: • Friday 29 May: Lagos – London • Monday 1 June: Lagos – London • Saturday 6 June: Abuja – London A UK organised special internal charter flight will travel from Port Harcourt to Abuja on Saturday 6 June to enable…

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Crisis brews in NASRDA over substantive DG

There is currently a scramble for leadership at the National Space Research and Development Agency (NARSDA) over the leadership of the parastatal as the former acting director general, Mr. Jonathan Angulu retired from the agency on the 15th of this month. Being science based, the leadership of the agency is picked from the agency, but there is disquiet over the refusal to elevate the most senior in the agency. The retired director general, a history graduate, was appointed in acting capacity on in June last year after the expiration of…

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Covid19: Arik Air donates palliative items to Lagos communities

Arik Air has donated palliative items to some communities in Lagos state to cushion the effect of the lockdown occasioned by the COVID-19 pandemic. The items donated were mainly food items such as rice and beans. The areas covered by the donation were Ewu-Tuntun/Mafoluku community around the Murtala Muhammed Airport and Arigbanla community in Orile-Agege, both in Lagos  The presentation of the food items was made on behalf of the management of Arik Air by a team led by the airline’s Head of Business, Central/West Africa, Sylvester Egogo and Manager…

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ART expresses displeasure on botched Air Peace evacuation from Canada

The Aviation Safety Round Table Initiative (ART) has expressed displeasure on the botched Air Peace evacuation mission to airlift stranded Nigerians from Canada due to the prevalent global lockdown caused by the Corona Virus pandemic. The ART in a statement signed by Mr. Olumide Ohunayo rejected in totality the nebulous safety concerns conveyed by the government of Canada. According to Ohunayo: “ART views this action not only as an unfriendly act but an unwarranted discriminatory and anti- competition acts bordering on avoidable aeropolitics. The demand of our common humanity at…

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Nigeria protein deficiency awareness campaign kicks off

The Nigeria Protein Deficiency Awareness Campaign, tagged the Protein Challenge, has officially kicked off in Nigeria. Protein Challenge, a protein-pull media campaign supported by the United States Soybean Export Council (USSEC) and other partners, seeks to create awareness about the prevalence, status and impact of protein deficiency in Nigeria. A key feature of the launch of the nation-wide campaign is the unveiling of the Nigeria Protein Deficiency Report. The report is the result of a nationwide survey that was conducted in 2019, to empirically determine the current status and dimensions…

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Businesses need more than just money to thrive – Elegbe, Interswitch GMD

The Founder/GMD of the Interswitch Group, Mitchell Elegbe, has said that although money is necessary, it is not sufficient enough to make a business thrive. He explained that it was more important for entrepreneurs to identify the problems they are trying to solve before venturing into any business. Elegbe made this call while giving the keynote address at the annual Lagos Business School MBA Entrepreneurship Expo and Contest with the theme: ‘Entrepreneurship and business innovation’. He highlighted that the more value customers perceive, the more they are willing to pay…

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Alleged N511.3m debt: Senator Bamidele fails to stop AMCON’s prosecution

This is not the best time for Mr. Bamidele Opeymi Michael, popular called MOB, as all judicial steps taken to stop Assets Management Corporation of Nigeria (AMCON) from prosecuting a debt recovery suit against him had failed both at Federal High Court and Court of Appeal. This was sequel to the struck out of his appeal by a Lagos Division of Court of Appeal, challenging an exparte order granted by Justice Saliu Saidu led-court, which in the interim, forfeited some of his shares to AMCON and freezing of his bank…

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COVID-19: Magistrate”s elevation stalls trial of Archbishop ‘Jehova Sharp-Sharp’ 

The scheduled trial of Archbishop Samson Mustapha Benjamin of Resurrection Praise Chapel, popularly called Jehovah Sharp-Sharp, and two others, who were arraigned for alleged violation of the lockdown and Stay at Home directive of President Muhammad Buhari, amid the Corona Virus Pandemic, before an Igbosere Chief Magistrate’s Court, Lagos, today, suffered set back, due to elevation of the presiding Chief Magistrate as a High Court Judge. At the resumed hearing of the matter today, the court’s Registrar informed counsels that the Chief Magistrate had been elevated to as a High…

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