- Medview Airline Gets IATA Operational Safety Certificate
International Air Transport Association ( IATA) on Monday admitted Medview Airline into its global safety platform, after passing the International Operations Safety Audit ( IOSA) certification.
The admission of Medview into the IOSA registry of the global airline regulator is confirmation that the carrier has notched up its safety operational procedures to worldwide standards.
Speaking at a presentation ceremony of the IOSA certificate, the Regional Director, West Africa, IATA, Mr Samson Fatokun said Medview met the required safety standards set by the global body.
He said the safety endorsement has catapulted Medview into the league of global players in terms of operational safety and procedures required for global carriers.
He said the airline has fulfilled all the conditions and met all the requirements for it to be given IOSA certificate.With the safety endorsement, Medview has joined the league of other domestic carriers to be enlisted in the IOSA registry. Others include Aero, Arik, Overland and Allied Air.
He said IATA will continue to monitor the operational activities of Medview Airlines to prepare it for the validation of the certification in the next two years, before pursuing the enhanced IOSA.
Fatokun said with the certification, Medview Airlines could negotiate code share and interline agreements with global carriers to enhance its operations.
Speaking on the certification, the Managing Director of the airline, Alhaji Muneer Bankole said it has been a team work and that he dedicate the certification to the entire staff.
IATA Operational Safety Audit (IOSA) audit, indicates that the airline has complied with all safety regulations.
The IATA Operational Safety Audit (IOSA) programme is an internationally recognised and accepted evaluation system designed to assess the operational management and control systems of an airline.
IOSA uses internationally recognised quality audit principles and is designed to conduct audits in a standardised and consistent manner.
It was created in 2003 by IATA. The program is designed to assess the operational management and control systems of airlines.
Awarding the certificate to the Managing Director of Medview, Alhaji Muneer Bankole and his team, the Regional Director of IATA, Dr. Samson Fatokun lauded the carrier for meeting the stringent conditions for IOSA, stressing that it is good for all carriers in Nigeria to be IOSA certified.
He explained that IOSA became imperative for carriers after African leaders met and agreed that all carriers operating on the continent must be IOSA compliant before 2017.
His words: “If you check IATA registry, you will find Medview Airlines there. They worked for it. It is good to be there and it is more difficult to maintain it. Very soon, you have to continue for renewal. We are moving to E-IOSA.
“E-IOSA is an expansion of the IOSA program and focuses in particular on the continuous quality assurance of operational procedures and processes, encompassing all IOSA disciplines.
“This is done through regular internal assessments and the preparation of a Conformance Report (CR). Qualified auditors and a standardized audit procedure are important prerequisites for this.
For this reason, Aviation Quality Services, a wholly owned subsidiary of Lufthansa Flight Training, is already qualifying prospective auditors according to the new standard using tailored IOSA training.
“We want to commend Medview. This commendable. We want to ask you to take full advantage of requirement of IOSA to be an IATA member. We plead you don’t come off the registry. It gives you opportunity to be IATA member.”
Muneer thanked IATA for establishing IOSA standards, as he recalled a meeting he had with Etihad recently on the need for partnership.
He disclosed that it took the airline two years to get the certification. He dedicated to the management and staff.
Union Bank Announces the Appointment of Aisha Abubakar as Independent Non-Executive Director
Union Bank of Nigeria Plc (“Union Bank”) has announced a change to the membership of its Board of Directors with the appointment of Ms. Aisha Abubakar as an Independent Non-Executive Director effective 9th September 2021, following the approval of the Central Bank of Nigeria (CBN).
Ms. Abubakar joins the Board of Union Bank following her tenure as Nigeria’s Honourable Minister for Women Affairs and Social Development from 2018 to 2019. Prior to this, she also served as the Honourable Minister of State for Industry, Trade and Investment between 2015 and 2018. At the start of her career, Ms. Abubakar worked at Continental Merchant Bank Ltd., African Development Bank and African International Bank.
She is an accomplished public sector administrator with over three decades of professional experience in Public Service and Pension Administration, Investment Banking, SME Finance/Rural Enterprise Development and Micro-Credit Administration.
Ms. Abubakar is a Fellow of the International Professional Managers Association (IPMA-UK), and the President of the International Experts Consultants (IEC-UK).
Commenting on the addition to the Board, Mrs. Beatrice Hamza Bassey, Union Bank’s Board Chair said: “On behalf of the Board of Directors, I welcome Ms. Aisha Abubakar to the Board. She brings many years of robust experience which will be invaluable in supporting our efforts to steer the Bank forward and deliver on our strategic objectives.”
Also commenting, Chief Executive Officer, Mr. Emeka Okonkwo said: “I am pleased to welcome our new Independent Non-Executive Director, Ms. Aisha Abubakar to the Board. We look forward to drawing from her wealth of experience and fresh perspectives as we continue to execute our vision to be Nigeria’s most reliable and trusted partner.”
AfDB Approves $50M Trade Finance Deal with Standard Chartered Bank
The African Development Bank Group has approved a $50m Trade Finance Unfunded Risk Participation Agreement (RPA) for StandardChartered Bank.
This was contained in a statement titled ‘African Development Bank approves a $50m Multinational Trade Finance Risk Participation Agreement facility for Standard Chartered Bank’ published on the bank’s website on Wednesday.
The statement said, “The board of directors of the African Development Bank Group has approved a $50m Trade Finance Unfunded Risk Participation Agreement facility between the African Development Bank and Standard Chartered Bank.”
The essence of this agreement is to promote intra-Africa trade, ensure regional integration and lessen the trade finance gap in Africa.
“The agreement is expected to boost intra-Africa trade, promote regional integration, and contribute to the reduction of the trade finance gap in Africa, in line with implementation aspirations of the African Continental Free Trade Area,”
The bank’s Director for Financial Sector Development, Stefan Nalletamby, stated that “We are excited about finalising this facility with Standard Chartered Bank as it offers us the flexibility to use our strong AAA-rated risk-bearing capacity to increase access to trade finance and boost intra/extra-African trade on the continent, in support of the AfCFTA.
“This partnership is expected to catalyze more than $600m in value of trade finance transactions across multi-sectors such as agriculture, manufacturing and energy over the next three years.”
Director-General of the bank’s Southern Africa region, Leila Mokadem, was quoted to have said, “The advent of COVID-19, coupled with stringent regulatory/capital requirements and Know Your Customer compliance enforcement, has seen many global banks reduce their correspondent banking relationships in Africa, while some are exiting the market altogether.
“There is, therefore, an urgent need for financing to reenergise Africa’s trade, which requires more participation of institutions like the African Development Bank.”
The parties in the agreement are expected to share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks and indemnified by Standard Chartered Bank.
Beneficiaries of this facility are issuing banks in Africa with the ability to grow their trade finance business has been constrained by inadequate trade confirmation lines from international banks.
Other beneficiaries are small and medium enterprises (SMEs) and domestic firms which rely on these issuing banks to fulfill their trade finance commitments.
The RPA facility is aligned with the AfDB’s High 5 priority goals which are: light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and improve the quality of life for the people of Africa.
Standard Chartered Launches Flexible ‘Smart Business Loan’ Product To Support SMEs
Standard Chartered on Wednesday launched its Smart Business Loan (SBL) product to support Small and Medium Scale Enterprise (SMEs) in Nigeria.
David Idoru, Head of Consumer, Private and Business Banking, of the bank in Nigeria, said in a statement in Lagos that SBL was an unsecured installment/term loan available to SME clients within key target sectors.
“Qualified SMEs would be able to access up to N20million loan, without providing tangible security/collateral to purchase asset, finance business expansion and other capital expenditure needs.
“This loan was designed to help SMEs meet their short to medium-term needs.
“As a Bank, our purpose is to drive commerce and prosperity in the locations we operate in. This is done through offering cash, lending, trade and wealth management solutions that specifically drive economic growth,” he said.
Idoru said that the bank was constantly looking for ways to ensure SMEs get access to the needed support to enable their businesses to thrive, adding that prior to the product launch, clients were required to provide full collateral cover to access loans from the bank, but SBL had been designed to provide the necessary flexibility to the clients.
“It is accessible to new and existing clients of the Bank with no waiting period, including small and medium scale organisations, who can access up to N20million in loans without collateral for a maximum tenure of two years,” he said.
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