Business
Security agents arrest three unruly passengers on Air Peace London-Lagos flight
Security operatives at Murtala Muhammed International Airport, Lagos, apprehended three unruly passengers on Wednesday, February 12, 2025, following disruptive behavior aboard an Air Peace flight from London, which endangered the safety of passengers and crew.
Air Peace spokesperson and Head of Corporate Communications, Dr. Ejike Ndiulo, confirmed the incident in a statement on Thursday, adding that security agencies are investigating the matter, and legal action is expected.
According to Ndiulo, the disruption began mid-flight when two passengers, Adedigba Adewale and Ashibogu Magnus, originally seated in Economy Class, unlawfully occupied Business Class seats and refused multiple instructions from the crew to return to their assigned seats.
Despite efforts to de-escalate the situation, the individuals remained defiant, creating a tense atmosphere onboard.
The passengers further violated flight regulations by consuming a bottle of rum they had brought on board.
A third passenger, Iwonze Benjamin, joined them in drinking and also exhibited unruly behavior.
He said: “This furthermore exacerbated their unruly conduct. Their behaviour raised security and safety concerns among passengers and crew, prompting the captain to make repeated announcements from the cockpit.
“Recognizing the potential threat, the flight crew notified security agencies in Nigeria ahead of arrival. Upon landing, law enforcement officials were on the ground to apprehend the individuals who were taken into custody for further investigations.
“Air Peace has reiterated its commitment to passenger safety and adherence to global aviation standards. The airline emphasized that any form of disruptive behaviour will not be tolerated and assured the public of its continuous efforts to uphold the highest levels of security and order on all flights.
“Air Peace praised its crew for their professionalism in handling this threat to safety in a way that prevented a worse event from occurring.”
Business
NAICOM Revokes Nigeria Reinsurance’s Licence, Freezes Operations Over Capital Shortfall
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
The National Insurance Commission (NAICOM) has revoked the operating licence of Nigeria Reinsurance Corporation for failing to meet the statutory Minimum Capital Requirement (MCR) and appointed Senior Advocate of Nigeria, Dr. Muiz Banire, SAN, as Receiver/Provisional Liquidator to wind up the company’s affairs.
The appointment took effect on August 3, 2026, following the cancellation of the company’s certificate of registration by the insurance regulator.
In a public notice dated August 4, 2026, Banire said NAICOM appointed him, in exercise of its statutory powers, to oversee the receivership and liquidation of Nigeria Reinsurance Corporation (RR-002).
In the notice, the company’s licence was revoked after it failed to comply with the prescribed Minimum Capital Requirement applicable to its category of licence within the stipulated compliance period, in accordance with the Nigerian Insurance Industry Reform Act (NIIRA) 2025 and other extant laws, regulations and guidelines.
Banire said his appointment authorises him to immediately trace, recover, secure and take possession of the company’s assets, collate and settle its liabilities in line with the NIIRA 2025, liaise with NAICOM on matters relating to the liquidation, and submit periodic reports to the Commission.
Banire directed banks, financial institutions, policyholders and members of the public not to honour any instruction relating to the company except those issued by him or persons expressly authorised by him.
Source: ThisDay
Business
NDIC begins paying depositors of 46 closed microfinance banks
NDIC Managing Director and Chief Executive Oludare Sunday confirmed the development at a retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Lagos on Wednesday.
The Nigeria Deposit Insurance Corporation (NDIC) has started reimbursing depositors affected by the closure of 46 microfinance banks nationwide.
NDIC Managing Director and Chief Executive Oludare Sunday confirmed the development at a retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Lagos on Wednesday.
” Payments are ongoing, and over 700,000 Heritage Bank customers have already received their insured funds through BVN-linked accounts.
“We have started paying depositors of those banks, and gradually we intend to cover all the insured depositors,” he said,” he said.
Following the revocation of the 46 MFB operating licences, the CBN subsequently appointed the NDIC as provisional liquidator of the failed financial institutions.
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