The management of Arik Air on Thursday said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court. Ado Sanusi, senior vice-president, Arik Air, made the disclosure at a joint news briefing with Oluseye Opasanya (SAN), the receiver manager, and Roy Ilegbodu, airline’s technical consultant. AMCON […]
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The federal government has come to the aid of Arik Airline, which has been experiencing difficulties in recent times, appointing a new management to run its affairs. As disclosed by the Asset Management Corporation of Nigeria (AMCON), the decision to intervene “clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to […]
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Flight diversions due to inflight medical emergencies make up a tiny portion of the millions of flights operated annually, but it is costly for airlines. With more people traveling by air, the actual number of inflight medical events has been gradually increasing over the years. Emirates, the largest airline by international traffic, operate over 3,500 […]
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The Governor of Lagos State, Akinwunmi Ambode, says he has plans to phase out commercial buses popularly known as Danfo before the end of the year. Speaking at the 14th annual lecture of the Centre for Values in Leadership (CVL) at Muson Centre in the Onikan area of the state, Ambode explained that this is […]
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The African Development Bank (AfDB) has approved and released $155 million to assist Nigeria to improve its power sector. The loan is for Economic and Power Sector Reform Programme (EPSERP). The approval became effective from Oct. 19, 2012 and the amount was fully disbursed in two tranches on March 1, 2013, and Dec. 21, 2015. […]
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The Naira on Friday depreciated further to N500 to a dollar at the parallel market after it had remained stable for nearly three weeks, the News Agency of Nigeria (NAN) reports. The Pound Sterling and the Euro traded at N616 and N530 respectively at the open market. The Nigerian currency, however, remained stable at the […]
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The federal government is set to take a proposal to raise the value-added tax (VAT) on luxury items to the national assembly. The minister of finance, Kemi Adeosun stated this while briefing the media after the federal executive council meeting on Wednesday, saying that the cabinet, presided over by Vice-President Yemi Osinbajo, has approved the revised […]
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Oil prices rose more than one per cent on Tuesday after news that the world’s top producers cut production in January more than forecasters had expected just as the dollar sank. “This is very high, a good number,” an OPEC source said of the January compliance estimate. The dollar was down by 0.9 per cent […]
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Opinions still largely differ on the issue of finance being biggest problem facing Nigerian entrepreneurs, but many many experts generally agree that it is one of the greatest challenges. Here are some of the easy-to-get funds available in the country this year. Criteria The general criterion for accessing these funds is the capacity to present […]
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The United Bank for Africa (UBA) Plc Friday launched the maiden edition of its Campus Ambassador Programme with the induction of the first 15 brand ambassadors. The UBA Campus Ambassador Programme is an initiative to identify young emerging leaders among students of tertiary institutions and give them a unique and highly rewarding learning experience. The […]
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