- Stranded Med-View Passengers Disrupt Activities at Lagos Airport
Dubai and London-bound passengers of Med-View Airline on Thursday took over the carrier’s check-in counter at the Murtala Muhammed International Airport, and also disrupted activities at nearby check-in counters.
Eyewitnesses said the passengers had been stranded for several days due to flight delays and cancellation.
Some of the aggrieved passengers were said to have gone to the Nigerian Civil Aviation Authority’s Consumer Protection Department desk to complain, alleging that the airline did not send any update through emails or text messages despite preventing some of them from travelling to London since December 24.
Some Dubai-bound passengers joined the protest with one of them alleging that he received a text message from the airline rescheduling the 1pm flight for Thursday to 2am on Friday due to operational reasons.
The airline had last week issued a statement blaming its inability to airlift the passengers on adverse weather and technical issues.
In another statement signed by its Accountable Manager, Mr. Michael Ajigbotosho, on Thursday, the airline said delayed flight operations out of Gatwick Airport, London on December 22 caused the problem as it created a backlog of passengers.
He said the flight VL 2101 out of London to Lagos on Friday, December 22, which had about 300 passengers on board, returned back to Gatwick after departure as a precautionary measure taken by the pilot in line with Aviation Standard and Recommended Practices.
Ajigbotosho added, “This led to the cancellation of the flight as the aircraft was declared AOG (Aircraft on Ground). The passengers were catered for, they were lodged in a hotel and those who decided to go back home were also taken care of. After the aircraft was declared AOG, we had to wait for a maintenance report. The aircraft had to remain on ground until a certified expert carries out the necessary checks and certify that the aircraft is airworthy.
“So the holiday compounded the problem. In line with that confirmation, we decided to seek for a relief flight and tried as much as possible go get the approval from both the Nigerian Civil Aviation Authority and the CAA of the United Kingdom in Gatwick. We attest to their full cooperation and we appreciate them.”
He added that the airline felt the concern of all its passengers and on Wednesday positioned three aircraft to ferry the affected passengers after securing the approval of the CAA and the NCAA.
According to him, the three aeroplanes would have evacuated 700 passengers and would have normalised the situation.
“But the passengers neither understood or knew the challenges ahead, which resulted into having a delayed operation and crew rest, and we ended up operating two flights out of three” he added.
Ajigbotosho, while appealing for more understanding from passengers, stated that normal flights would resume on Friday to London, Dubai and Jeddah.
Meanwhile, scores of domestic passengers on Thursday were stranded in Lagos due to delays and cancellation of their flights as a result of the adverse weather occasioned by the harmattan haze.
According to findings, the most affected routes were Port Harcourt, Benin, Akure, Calabar, Enugu and most parts of the North.
Banks’ Credit to Economy Hits N19.33 Trillion in August
Deposit Money Banks Credit to Economy Rose to N19.33 Trillion in August
The total credit facility to the economy rose to N19.33 trillion in the month of August.
The Central Bank of Nigeria-led monetary committee disclosed on Tuesday after the nation’s monetary policy committee meeting.
The committee attributed the improvement to the 65 percent loan-to-deposit ratio policy implemented to compel the nation’s deposit money banks to join central bank efforts at growing the real sector of the economy.
Godwin Emefiele, the Governor of the Central Bank of Nigeria, who spoke during the meeting said “The bank’s policy on Loan to Deposit ratio also resulted in a significant growth in credit to various sectors from N15.57tn to N19.33tn between end-May 2019 and end-August 2020, an increase of N3.77tn.
“This growth in credit was mainly to manufacturing (N866.27bn), consumer credit (N527.65bn), oil and gas (N477.65bn), agriculture (N287.11bn) and construction (N270.97bn).”
On monetary aggregates, broad money supply (M3) rose to 6.93 per cent (year-to-date) in August 2020 from 5.23 per cent in July 2020, reflecting the increase in both Net Foreign Assets and Net Domestic Assets.
He said total domestic credit grew by 6.94 percent in August 2020, lower than the 9.43 percent recorded in July 2020.
The committee reduced the nation’s benchmark interest rate by 100 basis points to 11.5 percent, down from the previous 12.5 percent.
Emerging Cities Take on Established Hubs for Graduates Seeking a Career in Finance
Graduates Seeking a Career in Finance Prefer Dubai to Start Their Career
Dubai is the number one global destination for graduates who successfully complete the flagship graduate programme at one of the world’s largest independent financial advisory organisations.
On passing the intensive scheme, deVere Group routinely asks graduates in which location within the Group’s global network of offices they would like to start their international financial services career. This year, 36% have responded with Dubai.
The second most popular is London (25%); Hong Kong is third (14 %); Mexico City is fourth (13%) and Moscow is fifth (6%).
The remaining 6% is made up of other destinations including Shanghai, Geneva, Paris, and Abu Dhabi.
deVere Group CEO and founder Nigel Green comments: “This survey highlights that the next generation of financial services professionals are open to look beyond the traditional and more established global financial hubs.
“The order of the top destinations changes with each group of grads we take on, but Dubai, London, and Hong Kong are typically in the top five somewhere.
“This is because, quite understandably, these global hubs of finance, commerce and technology represent centres of enormous possibilities for ambitious individuals about to embark on careers as international wealth-advisory and fintech professionals.
“There are some common traits amongst these cities, including that English is commonly spoken, they are politically and economically stable, there is a high level of internationally-minded high net worth individuals, and by relocating to these places one can usually expect comparatively high financial rewards.”
He continues: “What is different this year is that for the first time emerging financial hub cities are making the top five. Mexico City and Moscow are now actively competing for top talent with well-established international financial centres like Shanghai, Geneva and Tokyo.
“All these global destinations are unique and differ from each other in terms of the lifestyle they offer and in terms of clients’ expectations, economic environments and regulatory conditions.
“With each of the top five cities offering unique opportunities and challenges, each one attracts grads who have often quite markedly different strengths and weaknesses, skill sets and aspirations,” notes Mr Green.
“The results of this survey suggest that despite the pandemic, talented young people seeking a rewarding career are keen to look for opportunities internationally.”
The deVere CEO concludes: “With a globally-focused outlook from the wealth advisers and fintech professionals of the future, we can expect this trend of emerging hub cities to take on stalwart destinations to continue for the foreseeable future.”
Adesina, Godwin Emefiele, Others to Deliver Keynote Address at ASA 2020
Adesina and Godwin Emefiele to Deliver Keynote Speech at Agriculture Summit Africa (ASA) 2020
The President of the African Development Bank (AfDB), President Dr. Akinwunmi Adesina, is expected to deliver the keynote address at the 2020 Agriculture Summit Africa (ASA) holding this week.
The yearly summit organised by Sterling Bank is titled ‘Fast forward agriculture: Exploiting the Next Revolution’ this year.
According to the organisers, participants were expected to log in online while a few others would be in Lagos and Abuja studios.
In a statement released on Tuesday, Yemi Odubiyi, the Executive Director of Corporate and Investment Banking, Sterling Bank said other dignitaries were expected to deliver goodwill messages at the summit.
Some of the names mentioned were the governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele; Minister of Agriculture and Rural Development, Alhaji Muhammad Sabo Nanono; Cross River State Governor, Prof. Ben Ayade; his Kebbi counterpart, Senator Atiku Bagudu; and the Oniru of Iru Kingdom, Oba Abdulwasiu Omogbolahan Lawal.
Director, Advocacy and Country Alignment Function (ACAF), Director-General’s Office, International Institute of Tropical Agriculture (IITA), Dr. Kwasi Attah-Krah, is expected to deliver another keynote address on the second day.
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