Company Report
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NCAA to resolve Dana Air refund concerns, partners NG Eagle
The Nigeria Civil Aviation Authority (NCAA) has revealed it is taking decisive action to address the refund concerns of passengers affected by the recent suspension of Dana Air’s operations. In a statement on Friday, the NCAA confirmed that to resolve these issues, it has engaged NG Eagle, a new partner of Dana Air, to manage the airline’s outstanding financial obligations…
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Minister of Aviation inspects key development projects at MMIA
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, conducted an inspection tour of several key developmental and innovation projects at Murtala Muhammed International Airport (MMIA) on Friday. The inspection which took place on Wednesday, as highlighted on the Federal Airports Authority of Nigeria’s (FAAN) official X account, focused on the newly renovated E-Wing toilet and the extensive work…
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NiMet calls for insurance coverage for farmers to bolster food security
The Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, has emphasized the need for insurance coverage for Nigerian farmers to enhance food security in the country. His remarks came during a courtesy visit by a delegation from the United States Agency for International Development (USAID) to his office in Abuja. During the meeting,…
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Zenith Bank declares N727bn PBT in H1 2024, as shareholders get N1.00
Zenith Bank Plc has announced its audited results for the half-year (H1) ended June 30, 2024, recording an impressive triple-digit growth of 117per cent in gross earnings from N967.3 billion reported in H1 2023 to N2.1 trillion in H1 2024. This superior performance has been achieved even as the Nigerian banking industry navigates a challenging macro environment. According to the…
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NNPCL admits financial strain threatening sustainability of fuel supply
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed facing significant financial challenges due to mounting debts to petrol suppliers, raising concerns about the sustainability of fuel supply across Nigeria. In a statement released on Sunday, Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, acknowledged the company’s financial strain, which has been exacerbated by the high costs of Premium…
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NCAA to probe British Airways over delayed flights at airport
The Nigeria Civil Aviation Authority (NCAA) has begun an investigation into the recurring delays of British Airways flights at Nnamdi Azikiwe International Airport, Abuja. In a statement issued on Friday and signed by Michael Achimugu, the NCAA’s Director of Public Affairs & Consumer Protection, the authority disclosed it was alerted to the issue after flights arriving and departing from Abuja…
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Nigerian Breweries undertakes N599.1bn rights issue
Following receipt of the approval of its shareholders in April 2024, Nigerian Breweries Plc has now received clearance of the relevant documents from the Securities and Exchange Commission and NGX Regulation Limited. The Company plans to raise N599.1 billion by way of a Rights Issue. A total of 22,607,491,232 Ordinary Shares of 50 kobo each in the share capital of…
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NNPC clears air on OVH acquisition
The Nigerian National Petroleum Company Limited (NNPC Ltd) has firmly dismissed allegations made by former Vice President Alhaji Atiku Abubakar regarding the company’s operations and leadership. In a press release signed by the Chief Corporate Communications Officer, Olufemi Soneye, NNPC Ltd addressed the claims, clarifying the circumstances surrounding its acquisition of OVH and the role of its Group Chief Executive…
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FG imposes N555m fine on Fidelity Bank for data breaches
The Federal Government has imposed a N555 million fine on Fidelity Bank plc for data breaches. The fine was imposed by the Nigeria Data Protection Commission (NDPC), supervised by the Federal Ministry of Communications, Innovations and Digital Economy. The National Commissioner of the NDPC, Dr Vincent Olatunji disclosed this in Abuja on Wednesday at a Stakeholders validation workshop on the…
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Ibom Air welcomes second Airbus A220-300 to growing fleet
Ibom Air has announced the addition of a second Airbus A220-300 to its growing fleet, following the aircraft’s arrival in Nigeria on August 10, 2024, at Murtala Muhammed International Airport, Lagos. The Akwa Ibom State Government, which is the airline’s shareholder, formally received the new aircraft on Tuesday, during a ceremony at Victor Attah International Airport in Uyo, Akwa Ibom…
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