Business

FCCPC insists on Air Peace investigation over violations

Published

2 years ago

December 5, 2024

492 Views

The Federal Competition and Consumer Protection Commission has insisted that it is investigating Air Peace for allegedly exploiting customers.

FCCPC disclosed this in a statement by its spokesperson, Ondaje Ijagwu, on Thursday.

The Commission was clarifying reports making the round that it is not investigating Air Peace.

However, the FCCPC told Nigerians to disregard the claim as it does not emanate from the Commission.

“The Federal Competition and Consumer Protection Commission (FCCPC) categorically refutes a story entitled “FG not investigating Air Peace—FCCPC” making the rounds on some media platforms, particularly online, which has been falsely attributed to the Commission.

The referenced story, which seems syndicated and sponsored, did not emanate from the FCCPC, and we advise the public to disregard it in its entirety.

The FCCPC stands firmly by its official release dated December 1, 2024, which announced enquiries into widespread consumer complaints in the banking, telecommunications, and aviation sectors.

As stated, Air Peace is one of the entities being engaged to address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on specific domestic routes.

These enquiries, being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, are focused on addressing poor service delivery, exploitative practices, and potential consumer rights violations.

The enquiries are structured engagements aimed at ensuring compliance with regulatory standards, improving transparency, and protecting consumer interests.

“The FCCPC reaffirms that the enquiry into Air Peace commenced as scheduled on December 3, 2024, and remains ongoing.

The Commission is reviewing information and responses being provided by Air Peace and other entities under inquiry.

Appropriate determinations will be made, and necessary actions taken to address any identified violations.

“We urge the public to rely solely on verified communications from the FCCPC,” the Commission stated.

Business

Naira Exchange Rates Monday, 20 July

Published

6 hours ago

July 20, 2026

OCHEFA

15 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 416 Sell ₦1,422

GREAT BRITISH POUND (GBP) Buy ₦1,895 Sell: ₦1,915

EURO (EUR) Buy ₦1,590 Sell ₦1,610

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,380.18

GREAT BRITISH POUND (GBP) ₦1,854.42

EURO (EUR) ₦1,577.00

SWISS FRANC (CHF) ₦1,707.94

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦203.57

WEST AFRICAN CFA (XOF) ₦2.40

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32

SAUDI RIYAL (SAR) ₦367.48

SOUTH AFRICAN RAND (ZAR) ₦83.29

Business

BUA Foods target expansion into noodles industry

Rabiu described the expansion programme as a strategic investment in Nigeria’s industrial future, emphasising that the company’s growth ambitions are driven by a commitment to national development rather than scale alone.

Published

3 days ago

July 17, 2026

OCHEFA

51 Views

Chairman of the Board of Directors of BUA Group, Abdul Samad Rabiu disclosed that it’s food arm – BUA Foods is going into new sectors such as instant noodles because “we see it as a very important sector because of its affordability and its accessibility.”

Rabiu made the disclosure in Abuja on Thursday during the 5th Annual General Meeting of BUA Foods.

He also disclosed that as part of efforts to boost food sufficiency, “we are doubling our wheat milling capacity from over a million to over two million, wheat per annum. And that is huge.”

“We are also tripling the capacity of our edible oil business. In fact, we are setting up a brand new oil mill in Port Harcourt.

“Our ambition has never been to become bigger simply for the sake of size. We are building scale because Nigeria needs strong indigenous companies capable of competing at the highest level, investing for the long term and creating lasting value,” he said.