Skip to main content

FG lifts ban on Executive Jets for flying

FG lifts ban on Executive Jets for flying Naira Marley to Abuja

The federal government has lifted the ban placed on Executive Jets Services for flouting COVID-19 guidelines by flying Naira Marley to Abuja for a concert.

Speaking during the briefing of the presidential task force on COVID-19 on Monday, Sirika said the company has complied substantially with the sanctions imposed on them.

“Today, we lifted the ban on Executive Air Services Limited. They have complied substantially with all of our imposed sanctions,” the minister said.

“They have paid part of the fine and they have brought out a payment plan. So we have lifted the ban today so they continue to do their business. These kind of things are not punitive, they are to make our industry work better and keep all of us safe.”

Sirika, on June 15, had announced that the charter jet company was suspended indefinitely for flying the artiste to Abuja for a concert when the minister approved the flight for a different purpose.

The minister had said the flight was approved to convey Adefope Okoji, a justice, for an official assignment.

In its defence, Sam Iwuajoku, the company’s chief executive officer, said it got another offer to convey another set of passengers to Abuja after the judge travelled to Abuja on another flight.

Iwuajoku said he was confused when he saw the name Fashola Babatunde and approved the flight because he thought it was the minister of works and housing.

Comments

Popular posts from this blog

N-Power: FG extends Batch C enrolment Aug 8

FG extends Batch C N-Power enrollment to August 8 Add caption The Federal Government says the enrolment for Batch C scheme of the N-Power Programme which started on June 26 will now close on August 8. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, who disclosed this via  Twitter on Sunday night, said over 5 million applications have been received for the scheme. The Federal Government plans to enrol 400,000 applicants in the Batch C scheme. Batches A and B of the programme who are about to exit the programme held a rally at the National Assembly Complex last week, requesting FG to employ them as well as pay them a grant of N600,000 each. Providing an update on the development, the minister said on Sunday, “I received the news of a protest at the National Assembly by N-Power Batch A and B beneficiaries who presented a list of demands which we are reviewing and will address as practically possible. “Let me reiterate that th...

Local investors take charge as foreign investors remain cautious amid FX scarcity

Local investors take charge as foreign investors remain cautious amid FX scarcity Renewed positive sentiments in the global space dominated markets in the month of May as investors’ optimism for a speedy economic recovery continues to support appetite for risky assets. This is also coming on the heels of ease in lockdown and gradual reopening of economic activities. In Nigeria, domestic investors took the driving seat at the nation’s equities market in the month of May as they took positions in cheap and dividend-paying bellwether stocks. On the other hand, foreign investors who are unable to move their funds from the country due to FX scarcity rolled their money back into the equities market. In the month of May, total value of transactions executed by domestic Investors out performed transactions executed by Foreign Investors by 40percent. According to data released by the Nigeria Stock Exchange, total transactions executed between May and April revealed that total domest...

NAIRA WEAKENS TO LOWEST IN THREE YEARS

NAIRA WEAKENS TO LOWEST IN THREE YEARS The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opportunities for recipients of remittances such as exporters and private individuals. Pent up demand in the foreign exchange market is not unprecedente...