Business
United Nigeria Airlines becomes IATA Member
Nigeria’s fastest growing airline, United Nigeria Airlines Company Limited, has been admitted as a member of the global aviation body, the International Air Transport Association (IATA).
The airlines’ admittance into IATA was conveyed to the management of United Nigeria Airlines in a letter dated October 9, 2023, and addressed to Prof. Obiora Okonkwo, chairman and chief executive of the company.
The letter signed by William Walsh, IATA Director General, it said the group was happy to welcome United Nigeria Airlines into its fold.
“It gives me great pleasure personally to welcome United Nigeria Airlines as an IATA member,” the Director General said in the letter.
According to him, “IATA mission is to represent, lead, and serve the aviation industry and is the collective voice of some 300 Airlines from over 120 countries worldwide. Our vision is to work together to shape the future growth of a safe, secure, and sustainable air transport industry that connects and enriches our world.”
The IATA Director General further informed United Nigeria Airlines that the group’s priorities “include improving global safety, protecting the industry’s ability to grow sustainably, driving digital transformation within the industry and becoming the trusted source for aviation data.”
Expressing his happiness about United Nigeria Airlines’ membership of the group, the Director General said, “I sincerely hope that you, your airline, and employees will reap the full benefits of IATA membership.”
Commenting on the feat, Chief Operating Officer of the airline, Mazi Osita Okonkwo, said the IATA membership is an indication that United Nigeria Airlines was on course to becoming a global carrier.”
According to him, “the membership is a boost to our strategic engagements towards achieving our goals and becoming an airline that operates in accordance with global aviation standards.”
“We welcome the admission into IATA membership and assure that it will propel us to exceeding customer expectations on safety, quick service delivery, and top-notch customer services,” he added.
The IATA membership is coming in the heels of the accreditation of United Nigeria Airlines, last May, as an IATA Operational Safety Audit (IOSA) certified carrier.
United Nigeria Airlines is currently engaged with its expansion programme with immediate expectations for direct flight operations to Accra in Ghana and other regional destinations alongside expanded operations to Sokoto, Kano, Jos and Benin.
Already, management of the airline has concluded arrangements to boost its fleet size with the arrival of two Airbus A320 aircraft expected to arrive Nigeria mid-October and early December while another set of E-190 Embraer aircraft will join the services of the company in the first quarter of 2024.
The airline was also recently granted approval by the Federal Government of Nigeria to commence direct flight operations into North America, Europe, and the Middle East.
Business
Dangote Cement Shelves $18 billion Listing On LSE
Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.
Dangote Cement Plc has abandoned plans for a secondary listing of $18 billion on the London Stock Exchange and preferring to keep its shares exclusively on the Nigerian Exchange (NGX).
The decision , according to the company is because the LSE has been struggling to attract major new listings as companies increasingly reconsider their presence on the UK bourse.
In May this year , Aliko Dangote said that he was holding early discussions about a potential London listing.
The move would have given the company access to a broader pool of international investors and additional sources of capital.
However, the company said on Tuesday that it had abandoned the plan, citing market conditions and strategic priorities. Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.
Business
I sold heavy weapons internationally – Orji Kalu
“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.
The Senator representing Abia North, Orji Kalu, has disclosed that he previously engaged in the international trade of heavy weapons, selling arms to buyers in different countries before quitting the business at the insistence of his parents.
Kalu made the revelation during an interview on Arise Television on Monday, while discussing his business background and relationships with former and current South African leaders.
Asked whether he was an arms dealer, the former Abia State governor answered in the affirmative, saying he stopped after his parents intervened.
“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.
Asked whether he sold weapons to people who intended to use them to kill others, Kalu dismissed the suggestion, saying his motivation was to make money.
“No, no, no, no, no, no. I was selling guns to make money, whether they blow up it’s not my business,” he said
Business
Dividends: Airtel Africa To Pay Nigerian Shareholders USD N1,347.44 / Share
For London investors, the sterling equivalent was fixed at $1 to £0.7464
Airtel Africa Plc says it will pay its 3.1 US cents interim dividend at a dollar-to-naira conversion rate of N1,347.44.
That translates to about N41.77 per qualifying share for Nigerian investors.
The company disclosed the rate in a notice filed with the Nigerian Exchange (NGX).
The interim dividend is 3.1 US cents per ordinary share, a 9.2% increase from the previous year’s payment.
The approved naira rate is about 7.5% lower than the N1,456 per dollar that applied to the corresponding 2025 interim dividend.
Both the naira and sterling conversion rates were derived from dollar exchange rates available on October 30, 2026.
For London investors, the sterling equivalent was fixed at $1 to £0.7464. That puts the payment at approximately 2.31 pence per share.
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