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AIB, US NTSB, Others to Probe Delta Airlines Accident

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Delta Air Lines
  • AIB, US NTSB, Others to Probe Delta Airlines Accident

The Accident Investigation Bureau, in conjunction with the United States National Transportation Safety Board and investigators from Delta Airlines, will soon commence investigations into the Tuesday night’s accident involving an aircraft belonging to the carrier, which left about five people injured.

Delta Airlines’ flight 55 from Lagos to Atlanta, United States, returned to the Murtala Muhammed International Airport on Tuesday night after an issue with one of the A330-200’s two engines.

The flight, which was said to have initially pushed back at 22:40hrs, made an air return and emergency landing at 23:16hrs when the pilot announced the evacuation of all the passengers on board within 90 seconds after contacting the control tower, as the left engine of the aircraft was reported to have caught fire mid-air.

According to the airline, the flight landed safely and passengers exited the aircraft on the runway via emergency slides, adding that airport fire authorities met the aircraft upon arrival.

The Commissioner, AIB, Akin Olateru, told journalists on Wednesday that the NTSB had appointed an official to join two others from the airline to carry out the investigation.

Olateru, however, lamented that the airline had yet to make a formal complaint to the AIB as of Wednesday afternoon.

He said, “When you have this kind of thing, we take possession of the aircraft and nobody goes near it. The aircraft is under safety investigation. That is what is required by law but until 3pm this afternoon, Delta has yet to make a formal report, we are expecting them.

“I was made to understand they have appointed two investigators to work with us and they should be arriving this afternoon. The US NTSB notified us that Delta has appointed two investigators to join us and the NTSB is nominating one person. Their representative too will be joining to assist us in this investigation.

“This is a serious incident and by law, we are investigating it. There is what they call country of occurrence and Nigeria is a country of occurrence of this incident. Yes, it is a US carrier, US operator, US registered aircraft but there are certain state protocols, which have to be respected that give right of investigation to the country of occurrence, except the country of occurrence decides to cede that investigation to the country of operator or any other country.”

According to the airline, the flight landed safely and customers exited the aircraft on the runway via emergency slides, while five passengers reported non-critical injuries as a result of the evacuation.

The airline noted that airport fire authorities met the aircraft upon arrival.

The Director-General, Nigerian Civil Aviation Authority, Capt. Muhtar Usman, said the International Civil Aviation Organisation’s Annex 13 classified the accident as a “serious incident,” and the the responsibility to conduct the investigation should be with the country of occurrence.

“In this case, it happened in Nigeria, so the AIB will carry out the investigation and in line with ICAO, the country of manufacture and the country of registry and the country of operation; in these cases it happens to be the United States of America, which is also expected to be part of it,” he explained.

Meanwhile, Delta Airlines said one of its aircraft arrived the Murtala Muhammed International Airport, Lagos from the Hartsfield-Jackson Atlanta International Airport to airlift its Nigerian passengers who were affected by the accident to the United States.

“The airline can also confirm that in the early hours of Thursday, 15th of February, 2018, another Delta Airlines aircraft will arrive the Lagos airport to airlift more Nigerians to the US same day,” the statement read in part.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Guinness Nigeria Postpones Spirits Importation Exit, Extends Deal with Diageo

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Guinness - Investors King

Guinness Nigeria Plc has announced a delay in its plan to halt the importation of spirits as it extended its agreement with multinational alcoholic beverage company Diageo until 2025.

The decision, communicated through a corporate notice filed with the Nigerian Exchange Limited on Tuesday, cited a longer-than-expected transition period for separating its business from Diageo’s.

Initially slated for discontinuation in April 2024, the importation of premium spirits like Johnnie Walker, Singleton, Baileys, and others under the 2016 sale and distribution agreement with Diageo will now continue for an additional year.

The extension comes as the process of business separation between Guinness Nigeria, a subsidiary of Diageo, and Diageo itself faces unexpected delays.

In October, Guinness Nigeria had announced plans to cease importing spirits from Diageo, a move aimed at reducing its foreign exchange requirements.

However, the separation process has encountered unforeseen hurdles, necessitating the extension of the importation agreement.

The notice, signed by the company’s Legal Director/Company Secretary, Abidemi Ademola, highlighted the ongoing efforts by Guinness Nigeria and Diageo to implement the separation, originally scheduled for completion by April 2024.

The extension underscores the complexity of disentangling the businesses and ensuring a smooth transition.

Guinness Nigeria reaffirmed its commitment to the long-term growth strategy, aligning with Diageo’s decision to establish a new, wholly-owned spirits-focused business.

Despite the delay, both companies remain dedicated to managing the importation and distribution of international premium spirits in West and Central Africa, with Nigeria as a key hub.

The postponement comes amid challenges faced by Guinness Nigeria, including significant exchange rate losses, which amounted to N49 billion in the 2023 half-year operations.

Despite these setbacks, the company remains optimistic about its future prospects in the Nigerian market.

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Private Sector Warns: Interest Rate Hike to Trigger Job Cuts and Inflation Surge

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Private employers

As the Central Bank of Nigeria (CBN) announced a hike in the Monetary Policy Rate (MPR) from 22.75% to 24.75%, concerns have been raised by the private sector regarding the potential ramifications on job stability and inflationary pressures.

The move, aimed at curbing inflation and stabilizing the exchange rate, has prompted apprehension among business operators who fear adverse effects on the economy.

Representatives from the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Nigerian Association of Small Scale Industrialists have voiced their worries over the increased difficulty in accessing affordable credit.

They argue that the higher interest rates will impede the private sector’s ability to borrow funds for expansion and operational activities.

This, they fear, could lead to a reduction in business investments and subsequently result in widespread job cuts across various sectors.

The Lagos Chamber of Commerce and Industry (LCCI) acknowledged the necessity of the interest rate hike but emphasized the potential negative consequences it may bring.

While describing it as a “price businesses would have to pay,” the LCCI highlighted the current fragility of the economy, exacerbated by various policy missteps.

They cautioned that the increased cost of borrowing could stifle entrepreneurial activities and discourage expansion plans critical for economic growth and job creation.

Experts have echoed these concerns, warning that the tightening monetary conditions could exacerbate inflationary pressures and hinder economic recovery efforts.

With inflation already soaring at 31.70%, the rate hike could further fuel price hikes, especially in essential goods and services, thus eroding the purchasing power of consumers.

However, CBN Governor Yemi Cardoso defended the decision, citing the imperative to address current inflationary pressures and ensure sustained exchange rate stability.

He emphasized the need to restore the purchasing power of ordinary Nigerians and expressed confidence that the economy would stabilize by the end of the year.

Despite assurances from the CBN, stakeholders remain cautious, calling for a more nuanced approach that balances the need for price stability with the imperative of fostering economic growth and job creation.

As businesses brace for the impact of the interest rate hike, all eyes are on the evolving economic landscape and the measures taken to mitigate its effects on livelihoods and inflation.

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Breaking Barriers: Transcorp Hotels CEO Shares Journey from Crisis to Success

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Dupe Olusola

Dupe Olusola, the Managing Director/CEO of Transcorp Hotels Plc, reflects on her remarkable journey from navigating the depths of a global pandemic to achieving unprecedented success in the hospitality industry.

Appointed in March 2020, amidst the onset of the COVID-19 pandemic, Olusola found herself at the helm of a company grappling with the severe economic fallout and operational challenges inflicted by the crisis.

Faced with a drop in occupancy rates from 70% to a mere 5%, Olusola and her team were confronted with the daunting task of steering Transcorp Hotels through uncharted waters.

Undeterred by the adversity, they embarked on a journey of transformation, leveraging creativity and resilience to navigate the turbulent landscape.

Implementing innovative strategies such as introducing drive-through cinemas, setting up on-site COVID-19 testing facilities, and enhancing take-away services, Transcorp Hotels adapted to meet the evolving needs of its guests and ensure continuity amidst the crisis.

Embracing disruption as a catalyst for growth, Olusola fostered a culture of collaboration and teamwork, rallying her colleagues to overcome obstacles and embrace change.

Through unwavering determination and a commitment to excellence, Transcorp Hotels emerged from the pandemic stronger than ever, breaking profit and revenue records year after year.

“It’s indeed been a great opportunity to learn and relearn, to lead and to grow. When you see success stories, remember it’s a journey with twists, turns, ups and downs but in the end, it will all be okay”, she said.

Olusola’s leadership exemplifies the power of adaptability and perseverance, inspiring her team to transcend limitations and chart a course towards unprecedented success.

As Transcorp Hotels continues to flourish under her stewardship, Olusola remains steadfast in her dedication to driving innovation, fostering growth, and breaking barriers in the hospitality industry.

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