Business

One of the domestic carriers, Ibom Air, has announced the suspension of its flights over the ongoing nationwide strike by the organised labour. The airline expressed regrets over the disruption to flight operations, saying it could not operate any of its flights as a result of the ongoing situation. “Ibom Air regrets to inform our esteemed passengers that, due to…

https://www.westernpost.ng/wp-content/uploads/2024/06/VID-20240603-WA0189.mp4

The Central Bank of Nigeria (CBN) on Monday said it has revoked the licence of Heritage Bank Plc with immediate effect. This is according to a statement from the Acting Director, Corporate Communications at the CBN, Mrs Hakama Sidi Ali on Monday. The statement read: “ The Central Bank of Nigeria (CBN), in accordance with its mandate to promote a…

By Innocent Raphael The International Air Transport Association (IATA) has confirmed that the Central Bank of Nigeria (CBN) cleared $831 million of funds trapped by foreign airlines since June last year. This development reduces the global amount of trapped funds for international airlines to approximately $1.8 billion, according to IATA. The Geneva-based association also reported that Nigeria’s peak of about…

By Innocent Raphael Africa’s richest man and owner of the $20 billion Dangote Refinery, Aliko Dangote has said that individuals profiting from fuel importation are hindering the construction of refineries across the continent. In an exclusive interview with CNN’s Eleni Giokos at his refinery in Lagos, Dangote highlighted the alarming lack of new refineries in Africa, despite the continent’s status…

Geregu Power Plc has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country. This was contained in the company’s notice to the Nigerian Exchange Limited. The collaboration formalized through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024, aims to enhance sustainable, resilient, and efficient power…

By Innocent Raphael Kimberly-Clark, an American multinational renowned for its Huggies brand, has announced its decision to halt local manufacturing and sales operations in Nigeria, ending its 14-year presence in the country. The company revealed this decision in a statement released on Friday, attributing the move to recently adjusted global strategic priorities and the prevailing economic conditions in Nigeria. “Kimberly-Clark…

By Innocent Raphael The Nigeria Civil Aviation Authority (NCAA) has announced its commitment to enhancing service delivery for people with disabilities at airports across the country. In a statement on Friday at a meeting, NCAA’s Acting Director General, Captain Chris Najomo, assured representatives from the National Commission for Persons with Disabilities (NCPWD) of the authority’s dedication to providing necessary facilities…

By Innocent Raphael The Ministry of Aviation and Aerospace Development, has announced the temporary suspension of the contentious $300 helicopter landing fee. This decision follows strong opposition from the Airline Operators of Nigeria (AON), who argued that the fee was commercially damaging. According to a statement by the Ministry detailing the suspension, a committee has been established to review the…