The Nigerian Airspace Management Agency (NAMA) has begun the process of sectorizing the Lagos Sub-Flight Information Region (Sub-FIR) airspace into Lagos West and Lagos East Area Control Centres (ACCs) in line with its commitment towards enhancing the quality of air traffic services in the country. Giving this indication at a stakeholders’ sensitization forum on the sectorization which held at NAMA headquarters in Lagos, Managing Director of NAMA, Capt. Fola Akinkuotu said the project was aimed at “reducing congestion on the available en-route radio frequency as well as increasing Air Traffic Management (ATM) capacity in order to manage the growing air…
Author: Orientalnews Staff
The Federal Government has said that there is no plan to Islamise the country with the recent issuance of its N100bn Sukuk bond. The Minister of Finance, Mrs. Kemi Adeosun, said this on the sidelines of an investor conference organised by Stanbic IBTC Bank in Offer for subscription for the Sukuk bond closed on Friday. Adeosun stated that several countries of the world including South Africa had issued sukuk bonds in the past, and Nigeria’s plan to issue the sukuk bond started about six years ago, long before the current administration came into power. According to her, the sukuk bond is among…
The apex financial sector regulating bodies in Nigeria, Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have sanctioned five commercial banks N213.7 million between January and June 2017 over 26 market infractions. The sanctions vary from commercial banks failure to detect single Biometric Verification Number (BVN) wrongly linked to accounts owned by different individuals, late rendition of Returns to CBN, failure to comply with CBN’s Know- Your –Customers (KYC) requirement, among others. Of the five commercial banks, two leading banks in the country were severely sanctioned by CBN with a total sum of N100 million for failing…
PUBLIC and private sector players in the Nigerian oil and gas industry have described the annual Global Nigeria Forum, GNF, as a model worthy of emulation by the country’s local content regulator. They spoke at the fourth edition of the forum held in Aberdeen, Scotland, on September 9, with the theme: “Enabling Competitive Local Content through Sustainable Partnerships.” The forum, a brainchild of Shell Nigeria Exploration and Production Company, SNEPCo, the deep-water arm of Shell companies in Nigeria, aims to strengthen local content in offshore exploration by opening the opportunity space to Nigerian professionals in Europe, particularly in the United Kingdom.…
Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah; President, Dangote Group, Alhaji Aliko Dangote as well as President, Manufacturers Association of Nigeria, MAN, Dr Frank Udemba Jacobs are expected to grace the symposium of Commerce and Industry Correspondents Association of Nigeria, CICAN, designed to appraise the growth and development of the nation’s industrial sector. Tagged, ‘’25 Years of Incisive Industry Reporting; the Gains, the Pains’’, the symposium would among other things x-ray the challenges affecting the real sector of the nation’s economy while highlighting achievements recorded so far. Resource persons drawn from private and public sectors of the economy…
Chairman , Sovereign Trust Insurance Plc, Mr. Oluseun O. Ajayi, MD/CEO, Olaotan Soyinka and Executive Director, Marketing and Business Development, Ugochi Odemelam at the 22nd Annual General Meeting of Sovereign Trust Insurance Plc in Lagos.
L – R shows Ms Shiela Ezeuko, Group Company Secretary, Royal Exchange Plc; Ade Bajomo, Executive Director, Market Operations and Technology, The Nigerian Stock Exchange (NSE); Kenny Odogwu, Chairman, Royal Exchange Plc; Alhaji Auwalu Muktari, Group Managing Director, Royal Exchange Plc and Alhaji Rabiu Mohamed Gwarzo, OON, Director, Royal Exchange Plc at the Fact Behind the Figures presentation at the Exchange Yesterday. · L – R shows Alhaji Rabiu Mohamed Gwarzo, OON, Director, Royal Exchange Plc; Haruna Jalo-Waziri, Executive Director, Capital Markets Division, The Nigerian Stock Exchange (NSE); Kenny Odogwu, Chairman, Royal Exchange Plc and Alhaji Auwalu…
Hyacinth Chinweuba The Nigeria Customs Service (Tin-Can Island Command) has intercepted another 20 feet container number CMAU189817/8 containing 470 pieces of Jojef Magnum black pump action riffles. This seizure is coming just a week after it discovered and seized a 20-foot container load of 1,100 pump action rifles, at the same Command. The consignment was reportedly shipped in by the same importer, Great James Oil and Gas LTD, who brought in the 1,100 guns. Following the increase in the number of arms seizures in recent times, the Customs Area Controller of TinCan Island Port, Comptroller Bashir Yusuf, ordered a detailed profile…
Yemisi Izu RwandAir will play host to the 49th Annual General Assembly (AGA) and Summit of the African Airlines Association (AFRAA) scheduled to take place at the Kigali Convention Centre in Rwanda from 12 – 14 November 2017. This important annual event which was last held in Victoria Falls– Zimbabwe in November 2016, is expected to attract over 500 high profile delegates from the aviation industry in Africa, Europe, Middle East, Asia and North America. Addressing the media during a press conference held in Kigali as part of an advance visit, AFRAA Secretary General, Dr. Elijah Chingosho said: “The AFRAA AGA…
….Asks Insurance Bodies To Restore Sanity Or Face Sanction Yemisi Izuora The National Insurance Commission ( NAICOM) has challenged stakeholders in the insurance sector and in particular insurance bodies to enforce discipline and promote professional integrity to enable the industry grow in line with international best practice. The regulator is particularly worried that professional associations have not taken seriously the issue of ethics into consideration which often allow sharp practices by operators further causing more image crises in the sector. The commissioner for insurance, Mohammed Kari who spoke at the 2017 professional forum of the Chartered Insurance Institute of…