Business
Air Peace Achieves IATA’s IOSA Certification for Sixth Consecutive Times
The IOSA certification, which is renewed regularly by airlines, presumes that the airline operates with the highest standard of safety.

Air Peace has achieved its sixth consecutive International Air Transport Association (IATA) Operational Safety Audit (IOSA) certification.
The IOSA certification, which is renewed regularly by airlines, presumes that the airline operates with the highest standard of safety.
Speaking at the presentation ceremony, Dr. Samson Fatokun, IATA’s Regional Director for West and Central Africa, commended Air Peace for consistently meeting the stringent safety requirements.
Fatokun stated that when it comes to global safety standards, Air Peace stands shoulder to shoulder with aviation giants and the best airlines in the world.
He noted that the IOSA certification process, conducted by independent external auditors, is one of the most rigorous assessments in the industry, designed to ensure compliance with international safety and operational standards.
According to him, Air Peace has not only maintained but surpassed expectations, earning a reputation for safety that places it on a pedestal in the international aviation sectors.
Fatokun further emphasized that achieving and renewing the IOSA certification is no small feat, as many airlines struggle to maintain compliance after initial success.
He urged other Nigerian airlines to follow Air Peace’s example, noting that prioritizing safety and operational integrity would elevate the entire industry and enhance Nigeria’s reputation in global aviation.
The Chairman/CEO of Air Peace commended the Nigerian government, particularly the Minister of Aviation, for creating a supportive environment that encourages the growth of local airlines.
He called on other airlines to strive for IOSA certification, which not only validates their safety processes but also positions them as credible competitors on the global stage.
According to him, this milestone is not just a badge of honor for Air Peace but also a source of pride for Nigeria, showcasing the country’s ability to produce world-class airlines capable of holding their own among global giants.
Onyema further expressed his profound gratitude to God, the staff, and the management for their relentless efforts in sustaining this remarkable milestone.
He described the certification as a testament to Air Peace’s unwavering dedication to operational excellence and its commitment to prioritizing the safety and comfort of passengers.
Business
Afriland Fire: United Capital Confirms Death of Six Staff, Death Toll Rises to 10

Financial services firm, United Capital Plc, has confirmed the death of six of its employees in the tragic fire that engulfed Afriland Towers on Broad Street, Lagos Island, on Tuesday, September 16, 2025.
This announcement brings the official death toll to ten, following an earlier confirmation by the Federal Inland Revenue Service (FIRS) that four of its staff also died in the incident.

The fire, which broke out just before 1:00 p.m. on Tuesday, tore through the six-storey commercial building, housing several offices and businesses, leaving widespread devastation and loss in its wake.
In an official statement released on Thursday, United Capital expressed deep sorrow over the loss of its staff.
“It is with profound grief that the Management and Staff of United Capital Plc announce the passing of six of our dear colleagues, following the tragic fire at Afriland Towers,” the statement read.
“Our departed colleagues were an integral part of our company and family. Their painful loss leaves an immeasurable void.”
The company extended its heartfelt condolences to the families, friends, and loved ones of the deceased, assuring them of continued support during this difficult time. Plans are underway for a memorial service to honour the victims.
United Capital also expressed appreciation to emergency responders for their swift intervention during the incident.
“In this moment of untold grief, we stand together in solidarity, drawing strength from one another as we navigate this period. May the souls of the departed rest in peace.”
Authorities are continuing investigations to determine the cause of the fire.
Business
Elumelu Abruptly Ends UNGA Visit Following Afriland Tower Fire

The Chairman of Afriland Properties Plc, Mr. Tony Elumelu, has abruptly ended his trip to New York for the ongoing United Nations General Assembly (UNGA) following a devastating fire at Afriland Towers in Lagos that claimed the lives of several staff members.
In a statement released on Wednesday, Elumelu expressed profound sorrow over the incident, describing the loss as heartbreaking for the Afriland family.
He wrote, “I am shattered by yesterday’s devastating incident at Afriland Towers, that took the lives of our dear colleagues. No words can capture the magnitude of this loss – not for their families who loved them, not for the friends who valued them, and not for those of us who worked beside them.”
Elumelu revealed that he was en route to New York when he received news of the tragedy, prompting his immediate return to Lagos as a mark of respect to the departed staff.
“As we navigate this grief, I urge you all to reach out to those who are receiving care. In the coming days, we will convene colleagues in a memorial to honour the memories of the departed, as we provide support to their families,” he added.
He also thanked emergency responders, first aid workers, and members of the public for their swift and compassionate response to the disaster.
To honour the victims, a minute of silence will be observed at 12:00 noon on Wednesday across all companies within the Tony Elumelu Group.
Business
CBN Mandates Banks to Announce Successor MD Three Months Ahead
The CBN warned that leadership uncertainty at large banks could destabilise the entire financial sector and damage the wider economy.

The Central Bank of Nigeria (CBN) has issued a new directive mandating all Domestic Systemically Important Banks (DSIBs) to publicly announce the appointment of a new Managing Director/Chief Executive Officer (MD/CEO) at least three months before the scheduled exit of the incumbent.
In a circular signed by Dr Rita Sike, Director of Financial Policy and Regulation, and published on the CBN’s website, the bank stated that the new rules apply to Domestic Systemically Important Banks (DSIBs) – the largest lenders that are considered “too big to fail” because of their size and importance to Nigeria’s financial system.“
Consequently, and in line with good corporate governance practice, each DSIB is hereby required to: ensure it obtains regulatory approval for the appointment of a successor Managing Director not later than six months to the expiration of the tenor of the incumbent MD/CEO,” the circular stated.
Banks must also “publicly announce the appointment of the successor MD/CEO not later than three months to the planned exit of the incumbent MD/CEO.”
Whilst stating that the move is part of broader efforts to strengthen corporate governance and maintain confidence in the financial system, the CBN warned that leadership uncertainty at large banks could destabilise the entire financial sector and damage the wider economy.
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