- We Make N75m Refund to Customers Weekly
The Asset Management Company of Nigeria-appointed management of Arik Air has said that as a result of the rot in the airline, it is being forced to make refunds of between N60m and N75m to dissatisfied customers on a weekly basis.
According to the Chief Executive Officer, Arik Air, Capt. Roy Ilegbodu, the new management has been saddled with the unpleasant task of making refunds to customers, especially those who had bought tickets on the international routes before AMCON took over the ailing airline, which led to the suspension of flights to foreign destinations.
Presenting a scorecard of the AMCON-appointed management since it took over the airline on February 9, 2017, at a forum in Lagos on Tuesday, Ilegbodu said its international operations would remain suspended until certain things were sorted out, adding that there was no reason to rush back.
He said AMCON had so far injected N1.5bn in Arik since its takeover so as to safeguard its operations, adding that the fund had helped in stabilising the airline’s operations, prevented its collapse and ensured the payment of staff salaries.
“When we started on February 9, we took our time to study what was on ground in Arik. It was quite interesting and disturbing for an airline with 30 airplanes on its books to have only eight functional,” Ilegbodu said.
Through the restructuring of the company’s many debts, among other measures taken, including the purchase of spare parts, he added that the carrier hoped to put 14 aircraft in the air by the middle of this month.
The CEO said that the company was engaging its creditors on the way forward, adding that the receiver manager was currently in London to discuss with foreign creditors.
According to him, the outcome of the audit of the airline by KPMG will enable the government to decide on the next line of action.
“We are all looking forward to the closure of the audit because it will show the true position of the company,” he said.
BUA, Kainos Exploration to Drag Each Other to Court Over $20 Million Scandal
BUA Group on Monday threatened to drag Mr James Onyejekwe, the Managing Director of Kainos Exploration to court over a publication that claimed the Group was involved in a $20 million scandal.
BUA stated in a statement issued on Monday.
It stated that the publication engineered by Mr Onyejekwe was a “clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Mr Abdul Samad Rabiu.”
“BUA takes its reputation seriously and we will continue to do everything to protect it from anyone and any entity who obstructs our mandate to conduct business in a proper, legal and socially-responsible manner.
“BUA will, therefore, utilise its legal and human resources to resist every campaign of defamation and distraction,” the statement further said.
The leading cement manufacturing company said its independent investigation showed Mr. Onyejekwe was behind the false story that went viral online.
“We have, therefore, instructed our legal team to immediately commence criminal defamation proceedings against the person of Mr James Onyejekwe who is the said originator of the malicious letter fraudulently attributed to Cavendish Petroleum against our person, with damages,” the statement seen by Investors King noted.
BUA explained that “We deem these actions necessary, in order to protect the name and reputation of BUA Group.”
“We see no reason why Mr James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.
“Therefore, BUA finds it absurd that Mr Onyejekwe or anyone else will decide to drag BUA into their issues and/or put out such a malicious and defamatory statement, fraudulently using the name of Cavendish/Mr Mai Deribe without recourse to the truth, facts, decorum or decency,” it added.
BUA Group described the story bordering on allegations of corruption as “false, malicious and spurious.”
Dangote Cement Emerges Best Performing Firm In Africa
The Kogi State Chamber of Commerce, Industry, Mines and Agriculture (KOCCIMA) has named the Dangote Cement Plc, Obajana Plant, as the best performing company in Africa.
The award was presented to the company in Lokoja at the weekend by the Deputy Governor of Kogi State, Chief Edward Onoja, who represented the State Governor, Alhaji Yahyah Adoza Bello, at the Annual General Meeting(AGM) of KOCCIMA.
Speaking at the occasion, the President of KOCCIMA, Mr. Victor Ibrahim, said the Dangote Cement emerged through a thorough screening process that involved 20 companies.
He said: “Our screening committee considered many criteria before Dangote Cement Plc was selected”.
According to him, the Chamber put into consideration Dangote Cement’s contributions to the state’s economy through Internally Generated Revenue(IGR), as well as its good relationship with KOCCIMA.
Mr. Ibrahim said another criterion that placed the Dangote Cement in good stead is that the company has been environmentally friendly.
“We’ve visited DCP Obajana Plant and we found it complying with global best practices when it comes to the environment. Your parking lot does not constitute any environmental danger. We also considered returns to investors, the welfare of staff, the 43km Obajana-Kabba concrete road, your good relationship with the host community and your positive image”.
He announced that the Chamber of Commerce was planning to host its Trade Fair by year-end and looking forward to collaborating with the Dangote Cement Plc.
The Deputy Governor Mr. Edward Onoja expressed the appreciation of the Kogi State Government, saying the contributions of KOCCIMA and the private sector were crucial to the development of the state.
Speaking to newsmen on the sideline of the event, representative of the Dangote Cement Plc Mr. Ademola Adeyemi said the company was elated and that the award will further spur it to continue its support to the state’s economy, KOCCIMA and Corporate Social Responsibility schemes.
MTN Appoints Chika Ekeji as Executive Lead for Strategy and Transformation
MTN Appoints Chika Ekeji, A Nigerian-American as Executive Lead for Strategy and Transformation
MTN Group has announced the appointment of Chika Ekeji, a Nigerian-American national as an executive to lead the strategy and transformation unit of the mobile network operator.
Chika has a Master of Engineering in Computer Science from Cornell University and an MBA from MIT.
He will be leaving from McKinsey & Company, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa.
His appointment with Africa’s leading mobile operator will be effective on, 15th of March. In his new role, he will be based in SA.
“We are very pleased that Chika is joining us as we work to accelerate our strategic repositioning,” says MTN Group chief operating officer Jens Schulte-Bockum.
To support the execution of the repositioned strategy, Ekeji joins a group of other recent appointees, including the new group chief financial officer, Tsholofelo Molefe.
In recent weeks, MTN also made changes to the group’s regional structure and the executive committee.
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