Business

JUST IN: Max Air Voluntarily Suspend Domestic Operations for 90 Days

Published

1 year ago

January 29, 2025

Charles Flames

416 Views

Max Air has voluntarily its domestic flight operations for three months.

In a statement announcing the temporary suspension which will take effect from Friday 31 January 25, the management said that suspension is a demonstration of its unwavering commitment to passengers safety and service excellence.

“The safety of our passengers and crew members remain our highest priority and we believe this voluntary suspension will allow us to exceed the industry’s standards and restore public confidence in our operations, “said the management.

However, the Nigeria Civil Aviation Authority (NCAA) refers to the incident involving Max Air B734 aircraft with registration marks 5N-MBD, on landing at Mallam Aminu Kano International Airport, Kano on Tuesday, 28th, January 2025 at about 2251 hours.

In a statement, Mr. Michael Achimugu, Director, Consumer Protection and Public Affairs, NCAA, said that statutorily, the Nigerian Safety Investigation Bureau (NSIB) has initiated investigation into the occurrence.

The NCAA will provide the required support to the NSIB in this regard. It must be stated that the specific cause(s) of this incident can only be established after the NSIB has conducted its investigation.

It is instructive to note that the NCAA had commenced organizational risk profiles for each scheduled operator, including Max Air, which is nearing its conclusion.

However, as a result of this incident, Max Air is suspending its domestic flight operations for a period of three months with effect from midnight, 31st January, 2025, to allow for an internal appraisal of its operations by its management.

During this 3-month period, the NCAA will conduct a thorough safety and economic audit on Max Air.

The safety audit will entail a re-inspection of Max Air’s organization, procedures, personnel and aircraft as specified by Part 1.3.3.3(b) of the Nigeria Civil Aviation Regulations, while the economic audit will critically examine the financial health of the airline to guarantee its capability to sustain safe flight operations.

The resumption of Max Air’s domestic flight operations will be predicated on the satisfactory completion of this audit.

The NCAA is aware of the inconvenience this action may cause intending passengers of Max Air.

However; the safety and well-being of passengers is paramount.

Thus, NCAA appeals for patience and understanding while it ensures the protection of passenger rights.

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Business

Tony Elumelu’s United Capital Secures approval to operate in Ethiopia

Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.

Published

4 hours ago

June 9, 2026

OCHEFA

4 Views

United Capital Group has again secured regulatory approvals to commence operations in Ethiopia.

Its Chairman, Tony Elumelu, broke the news on Tuesday, via his official X.

” This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets,” said Elumelu.

Last month, United Capital commenced operations in Rwanda, marking its formal entry into East Africa and reinforcing its ambition to build a leading continental financial services institution.

The Group’s newly established entities include United Capital Trustees Rwanda Limited, licensed to provide trusteeship services, and United Capital Financial Services Rwanda Limited, licensed to offer investment management services, including portfolio management, investment advisory, capital mobilisation, capital market advisory, and fund management solutions.

With this development, United Capital now operates in 11 countries, including Nigeria, with a strong presence in key African markets, a recent expansion into the eight countries within the West African Economic and Monetary Union (WAEMU) region, alongside a growing footprint in East Africa.

According to Elumelu, African institutions are increasingly leading, competing, and succeeding across the continent.

For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.

That narrative is beginning to change.

This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.

Business

Lagos developing world – class new business district —Sanwo-Olu

Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Published

8 hours ago

June 9, 2026

OCHEFA

13 Views

• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.

Speaking yesterday at the third edition of the Invest Lagos Summit, attended by Vice President Kashim Shettima, other governors, foreign investors, development finance institutions and business leaders, Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Sanwo-Olu said that the state had recorded significant economic progress in recent years through targeted reforms across transportation, digital infrastructure and industrial development.

Highlighting key infrastructure achievements, Sanwo-Olu cited investments in road networks, waterways and rail transportation, describing them as critical enablers of economic growth and investor confidence.

The governor noted that Lagos was increasingly serving as a gateway to African markets and global capital, positioning itself at the centre of continental trade under the African Continental Free Trade Area (AfCFTA).

According to him, Lagos remains one of the continent’s most strategic economic hubs, with a population exceeding 25 million and a gross domestic product steadily approaching the $300 billion mark.