Connect with us

Business

NCAA Lifts Ban on Boeing 747 Max Aircraft

Published

on

ncaa-logo

NCAA Lifts Ban on Boeing 747 Max Aircraft

The Nigerian Civil Aviation Authority has lifted the ban placed on the Boeing 737 Max aircraft in the Nigerian airspace.

In a statement signed by the NCAA Director-General, Capt. Musa Nuhu, the agency said the approval was effective February 12.acMinister of Aviation, Senator Hadi Sirika, had announced a ban on the operations of the Boeing 737 MAX aircraft in Nigeria after two accidents of Lion Air flight 610, and an Ethiopian Airlines flight 320, crashed few minutes after takeoff.

The statement received on Sunday detailed how the United States Federal Aviation Administration dealt with the matter till the ban on the plane model was lifted.

The statement read in part, “On the 18th November 2020, the Authority received a Continued Airworthiness Notification to the International Community CAN-2020-24 advising it of the United States Federal Aviation Administration’s ongoing continued operational safety activities related to returning Boeing Model 737-8 and 737-9 (737 MAX) aircraft service.

“This, however, made the FAA issue a final rule/Airworthiness Directive that mandated the following actions for Boeing 737 MAX aircraft which includes installing a new flight control computer software and new 737 MAX display system software; incorporating certain Airplane Flight Manual flight crew operating procedures, modifying horizontal stabiliser trim wire routing installations; conducting an angle of attack sensor system test, and an operational readiness flight.

“NCAA recognises that a Joint Authority Technical Review that comprised of International Aviation Authorities such as the European Aviation Safety Agency, Transport Canada and the Singapore Civil Aviation Authority amongst others carried out a joint review of the Boeing 737 MAX safety system alongside FAA and NASA.”

The NCAA said it recognised the joint review of the Boeing 737 Max Safety System.

Similarly, it directed all intending domestic operators to work with the Boeing company and NCAA for the Aircraft Type Certificate Acceptance Programme in order to have the Boeing 737 MAX aircraft registered in Nigeria and issued a standard Certificate of Airworthiness.

Also, it tasked foreign air operators that intend to operate the aircraft into Nigeria to submit evidence of compliance with the FAA AD 2020-24-02 while promising to ensure strict compliance to safety rules.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Company News

Arla Food To Set Up Dairy Farm In Nigeria, Train 1,000 Dairy Farmers

Published

on

Arla Foods- Investors King

Arla Foods, makers of Dano Milk, has announced that it will build a state-of-the-art commercial dairy farm in Northern Nigeria where it plans to train and support up to 1,000 local dairy farmers as part of its long-term commitment to developing the Nigerian dairy sector.

The 200-hectare farm, scheduled to open in 2022, will have housing for 400 dairy cows, modern milking parlours and technology, grasslands and living facilities for 25 employees.

The firm said the farm is expected to produce over 10 tonnes of milk per day to supply locally produced dairy products to Nigerian consumers.

Managing Director, Arla Foods, Peder Pedersen said “there was a great need for nutritious food and dairy products to satisfy the growing demand from Nigeria’s fast-growing population.”

“This requires a complementary approach where imported food is crucial to ensuring food security while also supporting the government’s long-term agricultural transformation plan to build a sustainable dairy sector in Nigeria,” Pedersen said.

In 2019 Arla scaled up its commitment to developing a sustainable dairy sector in Nigeria with a new public-private partnership with the Kaduna State government.

It is the first of its size and offers 1,000 nomadic dairy farmers permanent farmlands. Arla is the commercial partner that will purchase, collect, process and bring the local milk to market.

Continue Reading

Appointments

The Board of Chemical and Allied Products Plc (CAP Plc) Appoints Vitus Ezinwa as a Non-Executive Director

Published

on

Chemical & Allied Products (CAP) Plc - Investors King

The Board of Chemical and Allied Products Plc (CAP Plc) has appointed Dr. Vitus Ezinwa as a Non-Executive Director of the company effective from Thursday June 17, 2021, subject to the approval of the Company’s shareholders at the next Annual General Meeting.

The company announced in a statement signed by Ayomipo Wey, Company Secretary/General Counsel, CAP Plc.

Dr. Ezinwa is a seasoned business manager and human resource professional with experience in leading multinational corporations.

He is currently the Chief Operating Officer (COO) of UAC of Nigeria Plc (“UACN”) and previously, the Group Director of HR at UACN.

Prior to Joining UACN, Dr. Ezinwa worked as Group Human Resources Director for Promasidor Africa; Human Resources Director, CocaCola Nigeria & Equatorial Africa with responsibility for 10 countries and Human Resources Director for British American Tobacco, West & Central Africa covering Ghana, Benin, Niger & Togo.

Dr. Ezinwa was, until recently, the Group Human Resource Director for Tropical General Investments (TGI) Group.

He is a member of the Advisory Board of Afterschool Graduate Development Centre, member of the Institute of Directors and a Fellow of the Chartered Institute of Personnel and Development (CIPD) UK.

He is a co-founder and Director of HR Network Africa and was until 2014, a member of the Lagos Business School’s Advisory Board. He holds a Bachelor’s degree in Sociology/Anthropology from the University of Nigeria, Nsukka, MBA in Management from Lagos Business School, a Master’s in applied business research and a Doctorate in Business Administration, both from Swiss Business School, Zurich, Switzerland.

In addition to holding an executive director role on the Board of UACN, Dr. Ezinwa is a non-executive director of Grand Cereals Limited.

Continue Reading

Business

DLM Capital Group Retains Position as Best Structured Finance & Securitization Team in West Africa

Published

on

Sonnie Ayere - Investors King

DLM Capital Group, a prominent Developmental investment bank, has once again emerged as the best-structured finance and securitization team in West Africa at the just concluded Capital Finance International (CFI) 2021 awards.

The leading developmental investment bank has won the award in the last three years to affirm its position as the leading investment institution and asset manager in the region.

CFI awards seek to identify the contributions of individuals and organizations that contribute significantly to the advancement of economies and truly add value for all stakeholders.

DLM Capital Group creates bespoke business solutions for alternative financing and harnessing funds for growth. The group focuses on four key sectors — consumer credit, agriculture, microfinance, and education with a mandate to reduce poverty and improve living conditions for Africans, while mobilizing resources for the continent’s economic and social development.

In the past three years, our portfolio management team’s performance has remained consistent, and our clients have benefited immensely from exposure to our solutions, including the NMRC securitization deal and the DLM Primero BRT Securitization,” said Head of Corporate Communications and Marketing, DLM Capital Group, Chinwendu Ohakpougwu.

We are positioned to provide services to an expansive client base of retail, high net-worth and institutional customers. DLM Capital Group remains committed to constantly providing financial solutions that will enable our clients make a difference, and we are honored to be recognized once again as a reflection of the quality of support offered to our clients’,’ she added.

DLM has won recognition in West African capital markets, acting as a sole arranger to over 80 percent of structured finance transactions in Nigeria — and all the securitization transactions. It provides deal structuring, advisory execution and capital raising services across the Nigerian capital market.

The Institution recently launched an asset financing scheme and is preparing a venture into digital banking under its subsidiary, Sofri.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending