Air Peace acquires two Airbus 320 Aircraft to boosts operations during yuletide

By Favour Nnabugwu

 

West and Central Africa’s largest carrier, Air Peace, has taken delivery of two Airbus 320s to boost its domestic and regional operations, especially as Yuletide approaches.

The two 162-seater aircraft, with 12 Business Class seats and 150 Economy seats each, arrived the Murtala Muhammed International Airport, Lagos, around 20:00hrs on Thursday, November 25, 2021.

Spokesperson of Air Peace, Stanley Olisa,  who confirmed the acquisition said: “The two A320s will be deployed to boost both domestic and regional connectivity for our esteemed customers, as the Yuletide draws near”.

He added that the new A320s will help the airline in its drive to meet the growing travel demand in the Nigerian and larger West African markets while it expects to take delivery of more Embraer 195-E2 airplanes.

Olisa stated: “Air Peace is committed to reducing the air travel burden of Nigerians and these new airplanes are a testament to this commitment”.

Recently, Air Peace had assured the flying public of ample flights as it will be rolling out schedules for the festive period very soon, adding that more aircraft are coming in- both those on maintenance and a brand new Embraer 195-E2 jet.

The airline had also revealed that it will be deploying its wide-body Boeing 777 aircraft to meet the increased demand characteristic of the festive period.

Air Peace currently services 19 domestic routes, 6 regional routes and 2 international destinations, including Johannesburg, while it boasts of a varied fleet of 30 aircraft, the latest being four brand new 124-seat capacity Embraer 195-E2 jets.

Leading thoughts on ways to revamp secondary schools

By Tope Adaramola

Gone were those days when secondary education in Nigeria was a worthy experience. We had many things that engaged not only our brains but also our brawn. As young people whose greatest assets were their physical strength, the authorities developed the school curriculum to actively engage these potentials.
There was hardly any secondary school, especially the ones owned by government that were not located on an expansive landmass, giving room for effective recreation and all round activities by the students, whether day or border.

There were sporting arenas for different games through which budding talents were horned from healthy competitions. There were also geographical and botanical gardens that provided physical expression to what the students learn in class. Without having visited an airport or boarded an air plane, I already could describe different vegetation in several geographical zones in the world. I realized how great those gardens were when I had the privilege of travelling so many years after school only to physically sight some of the topographies that we were taught in class from the windows of the aero plane.

There were also voluntary societies where the students learned leadership, discipline and patriotism. It was out of sync for any student not to belong to either the Boys Scout, Man “O” War, Red Cross, Boys Brigade or Sheriff. These institutions or societies provided recreation and avenues for the young lass or lads to expend their abundant energies as well as redirect their minds to responsible conduct growing up. I must specially commend the boarding facilities that existed in schools those days.

Among other things they served as the platform for understanding mutual respect and love for those outside your personal confines or narrow territories. This writer was most privileged to attend a cosmopolitan school that had a huge mixture of tribes, from different parts of the country under the then national schools exchange programme. It was a baptism into nationalistic orientation. Being a Yoruba boy, I had to relate with my next bunk guy who perhaps was from Benue, of Idoma extraction, while the guy seating next to me in class hailed from Nnnewi, of Igbo nationality.

The nuances of the different tribes were easily learned and we were orientated into seeing ourselves as Nigerians who must do away with our various parochial beliefs. This affected my world view till today as I could hardly come to terms with anyone preaching noxious tribal or religious sentiments. Ofcourse, why would I forget the rich religious activities that were encouraged in schools. The fear of God was made paramount in the budding hearts of the young lads in school. You either belonged to the FCS (Fellowship of Christian Students) or the MSS (Muslim Students Society).

Aside from the bond of unity and tolerance, the Societies enculturated the students into life of responsibility, civility and decent conduct. No student wanted to stay out of these religious folds as they could easily be tagged “children of the devil” or what we called “Omo Esu” in Yoruba parlance.
To allow all these lessons learned from school to fester in our minds was an environment that was fairly conductive in the home front.

The parents were quite responsible and had adapted to self-contentment, living within their means, rather than indulging in rat-race for wealth as we have nowadays. It was a time when crying home that you were canned by a teacher would most assuredly earn you more punishments, with either of your parents or a guardian taking you back to school and requesting that you are thoroughly flogged before all your classmates. Assembly periods were often dreaded by students, especially the serial offenders.

The School Principal was like a god that must be venerated. They determined when to discipline and what type of discipline to give depending on the gravity of offence committed by the student. You may be asked to uproot a stubborn tree on the school compound or wash all the toilets. The gravest offence could attract expulsion or even dismissal and they were under only little strangle hold from the so called authorities as we have in some cases today. It is not a coincidence that many of those who go through those punishments are today priding themselves as today’s leaders, holding commanding positions in the society.

But years down the line, it is saddening when introspecting on how we missed the tangent so widely. How did we lose all those great values that made our schools great? Where is the discipline? Where are the “culturing pots” that cooked our own generation? Accepted some may say that was in the days of yore, or better put “old school” culture, yet we should ask whether it paid us better or not.

Yes, some felt the environment was harsh, yet we fail to realise that it was that furnace of harshness that the greatness in our generation was fashioned. Many of us, now parents swank about saying we do not want our children to go through what we went through, yet we are where we are today, helplessly seeing our children veering off from the mooring of goodly conduct.

Just as the parents have become more and more irresponsible, obsessively pursuing daily bread at the expense of their “future” so also have the teachers become frustrated partly due to the non-cooperative attitude of parents, fueled by the mollifying of their powers and authority by government authorities who unfortunately are their employers.

The centre seem not to hold anymore. Result of this is what we are seeing today. It calls for urgent attention that terrorist and cultists are being groomed in our secondary schools as we could see unfolding before our eyes, yet we seem unconcerned. Many would have read in the news about how some rampaging students of two secondary schools in Abeokuta battered a superior Police Officer, bathing him with his own blood. News also captured how a student recently ambushed a teacher and shot him dead. Several maleficence that could make one twitch are happening all over the country, courtesy of secondary students on a daily basis.

Without being a pessimist, I beg to say that all these shenanigans are just a tip of the iceberg compared to what we would soon be experiencing. I feel that now is the time for a stakeholders meeting to be convoked by state governments and relevant authorities, in order to revive our secondary schools from the precipice and salvage our collective future. Those stakeholders need not over belabor themselves.

Let them take a look at those traits which I earlier highlighted that made our schools thick and see a way of reinventing them. With that starting point, I think it would be seen that we are serious as a people and government to return sanity to our schools. Surely, this madness has to stop!

Tope Adaramola is a PR practitioner and public commentator

CBN awards N5m loans to graduates under new scheme

Favour Nnabugwu

 

 

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has launched the Tertiary Institutions Entrepreneurship Scheme designed to tackle underemployment and unemployment in the country.

Emefiele, at the launch in Abuja yesterday, also presented loans ranging from N4.1m to N5m to graduates who applied and were selected.

“The scheme, developed in partnership with Nigerian polytechnics and universities, is designed to harness the potentials of graduate entrepreneurs by creating a paradigm shift from the pursuit of white-collar jobs to a culture of entrepreneurship for economic development and job creation,” he said.

He noted that it had become imperative that government at all levels put in place policy measures to support entrepreneurial development among youths amid the lack of adequate employment opportunities.

The governor said such measures would create an enabling business ecosystem that supports innovation and enables the youth to unleash their entrepreneurial potential, by redirecting their focus from seeking white-collar jobs to a culture of entrepreneurship development.

“The ecosystem should provide support in re-orientating, training, and providing a financing model apt to the peculiarity of the sector within which the businesses operate,” he added.

Local stock market dips further as Investors lose N71bn

By admin

 

Equities trading at the Nigerian Exchange Limited (NGX) extends negative outing into the fourth trading session of the week leaving Investors with N71 billion loss.

Basically, on Thursday, the All-Share Index dipped further by 0.32 per cent to peg the ASI at 43,108.77 basis points, bringing the month-to-date and year-to-date outings of the benchmark index to stand at 2.55 per cent and 7.05 per cent respectively.

This also pegged the Equities market capitalization at N22.494 trillion as investors lost N71 billion in the session.

Market breadth closed in favour of the bears with 24 counters in the losers’ chart pitted against 14 counters in the gainers’ chart.

Honeywell Flour Mills was the best performing stock in the session, on the back of the assurance on the recent announcement by Flour Mills of Nigeria Plc of their agreement to acquire a majority shareholding interest in the stock.

HFM was flanked by AIICO Insurance, Regal Insurance, Ikeja Hotels and University Press Limited to complete the list of the top five gainers.

From the rear of the chart, MRS Oil sheds the most weight to lead the laggards’ chart as it was flanked by CHAMS, ETI, CHI PLC, and Unity Bank to complete the top losers’ chart.

Most sectoral indices closed in the same direction with the ASI save for NGX Insurance that gained 0.64 per cent, while NGX Growth and NGX ASEM closed flat.

Market activity as measured by both volume and value of trades gained weight in the session with daily traded volume standing at 266 million units, representing a 9.43 per cent increase from a volume of 243 million units traded in the previous session.

The value of traded stocks inched up by 12.54 per cent in the session to stand at N4.216 billion as against a value of N3.747 billion recorded in the previous trading session.

Seplat dominated the volume charts as the top traded stock by volume for the trading session. This is followed by FBN Holdings, Zenith Bank, Access and Honeywell Flour Mills to complete the list of the five most traded stocks by volume.
With regards to the value of traded stocks, GTCO took the lead of the top five performers. It is flanked by Zenith Bank, Nigerian Breweries and HFM.

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.Local stock market dips further as Investors lose N71bn

Nigeria, 12 others’ll grow global trade to $30tn – Report

By admin

 

A new report commissioned by Standard Chartered and prepared by PwC Singapore has said Nigeria and 12 other countries will be responsible for driving global trade to $30tn by 2030.

The report said global exports would more than double from $17.4tn to $29.7tn over the next decade, hinting that much of the growth would be driven by 13 markets.

It said Nigeria would be growing at an annual rate of 9.7 per cent, and export about $112bn by 2030, adding that its key corridors would be through India, Indonesia and Mainland China.

According to the report, Kenya, the second African nation on the list, would be growing by 7.6 per cent annually, with $10bn in exports by 2030 through key corridors, namely Pakistan, Uganda and the United States of America.

The list consists mostly of Asian countries with Mainland China contributing the most at $5.02tn by 2030 and growing at 7.1 per cent annually.

Other countries are Hong Kong ($939bn, 5.7 per cent), South Korea ($972bn, 7.1 per cent), and India ($564bn, 7.6 per cent).

Bangladesh, Singapore, United Arab Emirates, Indonesia, Malaysia, Vietnam, and Saudi Arabia also featured in the report.

The report is based on an analysis of historical trade data and projections until 2030, as well as insights from a survey of more than 500 C-suite and senior leaders in global companies.

According to the report, global trade will be reshaped by five key trends: the wider adoption of sustainable and fair-trade practices, a push for more inclusive participation, greater risk diversification, more digitisation and a rebalancing towards high-growth emerging markets.

It said almost 90 per cent of the corporate leaders surveyed agreed that these trends would be shaping the future of trade and would be forming part of their five to 10-year cross-border expansion strategies.

The research also found a significant trend towards the adoption of sustainable trade practices in response to climate concerns and a rising wave of conscious consumerism.

It said while almost 90 per cent of corporate leaders acknowledged the need to implement these practices across their supply chains, only 34 per cent ranked it as a ‘top three’ priority for execution over the next five to 10 years.

The Executive Director, Corporate Commercial and Institutional Banking, Standard Chartered Nigeria, Korede Adenowo, said, “The predicted doubling of global trade offers strong evidence that globalisation is still working, despite recent dislocation. In addition to the growth of intra-regional trade pathways, the corridors of the future will still cut across continents.

“Against this backdrop, we continue to focus on making globalisation work for more markets and businesses, ranging from micro to multinational, and drive a more sustainable and inclusive model for global trade. This includes growing our range of sustainable finance solutions to help our corporate clients implement sustainable and fair-trade practices across their supply chains.”

NDIC Pays N11.76bn to 535, 815 Depositors of Closed Banks

 

By Sandra Adesiyan

 

The Nigerian Depositors Insurance Corporation (NDIC) has paid a total of N11.76 billion as insured sum to 535,815 depositors, while N101.666 billion was also paid as uninsured sum from 1989 to June ,2021.

The Managing Director of NDIC, Mr. Bello Hassan,made this know at Edo International Trade Fair.

Represented by the Corporation Senior Manager, Benin Zone, Mr. Udofor Ukpom, Hassan said since the establishment of NDIC in 1989 as a statutory agency of government with four broad mandates, it has been protecting depositors by providing an orderly means of resolution and reimbursement in the event of bank failures.

He listed the four mandates of NDIC as deposit Guarantee, bank supervision, distress resolution and bank liquidation, with the primary public policy objectives of contributing to financial system stability.

He said:”From inception till date, NDIC has been living up to its mandate and public policy objectives of contributing to financial system stability and has paid cumulative amount of N11.76 billion as insured sums to 535, 815 depositors of closed banks while a total of N101.666 billion had been paid as uninsured sum as at 30 June, 2021. In addition, a total of N6.159 billion had been paid as liquidation dividend to 1,955 creditors and shareholders of closed banks.”

Instructively, the corporation has declared full payment of insured and uninsured sums to depositors of 18 banks in-liquidation.”

This implies that the Corporation has realized liiquidation dividend to pay all depositors of the banks who present themselves for payment.

“Likewise, NDIC has continued to strive for a sound, safe and stable financial system which is pivotal for sustainable economic growth and in that regard, has responded to innovations in the financial system by extending deposit insurance cover to MFBS, PMBs, NIBs and MMOs and also to the recently licensed Payment service banks (PSBs) in order to engender confidence in the financial system.”

The NDIC boss advised Nigerians to remain vigilant and not disclose their ATM details and account information inadvertently and also not patronise the services of Ponzi schemes and illegal fund managers, who parade themselves as deposit taking institutions.

Earlier, the Managing Director, of Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA), Mrs Aina Omo-Ojo, thanked NDIC for coming to the fair to enlighten the public on its operations and also how to make sure that as business people they don’t lose their hard earned money through banks.