Business
United Nigeria gets NOD for Flights to USA, UK, Netherlands, Italy, UAE, Ireland
The United Nigeria Airlines, one of the leading airlines in the country, has received approval for operation of international flights.
According to the Federal Ministry of Aviation and Aerospace Development’s approval, the airline would operate international flights to United States of America, United Kingdom, Netherlands, Italy, Ireland and the United Arab Emirates (UAE).
A letter dated September 8, 2023 conveying this approval from the Ministry of Aviation and Aerospace Development, signed by Director, Air Transport Management, Mr. H.T. Ejiburu, on behalf of the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, to the United Nigeria Airlines Company Limited, said the approval was in line with subsisting Bilateral Air Services Agreement (BASA) between Nigeria and each of the countries.
The letter reads: “I am directed to acknowledge receipt of your letter dated 2nd August 2023 on the above subject and convey the Honourable Minister’s approval for the designation of Messrs United Nigeria Airlines Company Limited to operate international flight operations to the undermentioned countries and cities: Netherlands (Amsterdam), Italy (Rome), United Arab Emirates (UAE) (Dubai), United Kingdom (London), United States of America (USA) (Houston) and Ireland (Dublin).
“The designation of Messrs United Nigeria Airlines Company Limited is in line with the subsisting Bilateral Air Services Agreement (BASA) between the Government of the Federal Republic of Nigeria and the governments of the six mentioned countries.
“Consequently, the airline is hereby advised to liaise with the Civil Aviation Authorities of the aforementioned countries for documentation prior to commencement of scheduled flight operations. However, you are obliged to comply with the Nigerian Civil Aviation Regulation (Nig. CARs (2023) Part 18.5.1.1 A-C by taking further steps to liaise with the Nigerian Civil Aviation Authority (NCAA) in fulfilling the requirements if necessary.
“Kindly note that the approval has been communicated to the Ministry of Foreign Affairs for its further necessary actions.”
United Nigeria Airlines, with Prof Obiora Okonkwo OFR as Chairman, started flight operations in 2021and operate scheduled flights in major Nigerian cities. The Airline had earlier obtained approval for Regional flights based on which that they are finalising arrangements to commence regional operations in couple of weeks upon arrival of their additional aircraft from middle of October.
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.
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.
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.
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.
• 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.
Official CBN Exchange Rates
US Dollar (USD) ₦1, 362.84
Great British Pound (GBP) ₦1,821. 30
EURO (EUR) ₦1,574. 53
SWISS FRANC (CHF) ₦1,714. 05
JAPANESE YEN (JPN) ₦8.52
CHINESE YUAN (CNY) ₦200.99
West African CFA (XOF) ₦2.42
West African Unit Account (WAUA) ₦1,863.83
SAUDI RIYAL (SAR) ₦302. 83
SOUTH AFRICAN RAND (ZAR) ₦82.75
Black Market Rates
US Dollar (USD) Buy ₦1,395 Sell ₦1,400
Great British Pound (GBP) Buy ₦1,860 Sell: ₦1, 880
EURO (EUR) Buy ₦1,000 Sell ₦1, 100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦100 Sell ₦115
West African CFA Buy ₦2,450 Sell ₦2550
Central African CFA Buy ₦2,320 Sell 2,400
Australian Dollar Buy ₦800 Sell ₦900
Sources: CBN / Aboki Forex
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