Travel/Tourism
Skye Bank to Take Over Lagos Intercontinental Hotel

By Modupe Gbadeyanka
The 361-room Intercontinental Hotel in Lagos is to be taken over by Skye Bank Plc following a court order.
Counsel to the lender, Mr Kunle Ogunba (SAN), claimed Milan Industries Limited, the parent company of the hospitality firm, defaulted in the repayment of a loan it got from its client, which necessitated the suit.
In its ruling, a Federal High Court in Lagos directed Skye Bank to take over ownership of the five-star hotel.
Justice Babs Kuewumi ordered Skye Bank to take over all assets of Milan Industries Limited including Intercontinental Hotel, which is covered by a deed of legal mortgage, pending the hearing and determination of substantive suit.
“An order is hereby made restraining the defendant, its agents, servants and/or privies from withdrawing, interfering with, tampering, removing from jurisdiction of this court or otherwise dealing with the defendant’s funds in any bank or financial institution in Nigeria or outside Nigeria in view of the receivership status of the defendant pending the hearing and final determination of the motion on notice filed along herewith,” Justice Kuewumi held.
“The plaintiff shall file an undertaking to indemnify the defendant should it turn out that this order ought not to have been made,” the judge added.
He also granted the bank’s prayer to appoint Ogunba as the receiver-manager of the hotel in order to preserve its assets and directed the Assistant Inspector General of Police, Zone 2, the Commandant of the Nigeria Security and Civil Defence Corps and their agents to assist Ogunba in the performance of his duties as the receiver-manager.
According to the bank, it granted loans of $29.8 million and N3.8 billion to Milan Industries Limited to construct the hotel.
Skye Bank further said it raised an overdraft facility of N500 million in favour of Milan Industries Limited to pay contractors and importation of material required for completing the hotel, but lamented that Milan Industries Limited failed to repay the loans as agreed.
“At the expiration of the tenure of the various facilities extended by the plaintiff, the defendant failed and/or neglected to liquidate the various facilities and same continues to accrue interest.
“The facilities availed the defendant have since matured and/or expired and the defendant has failed to liquidate same and failed to comply with various repayment plans of the principal and interest despite several magnanimities extended to it by the plaintiff,” Skye Bank disclosed.
The Lagos Intercontinental Hotel is believed to be one of the most expensive hotels in Lagos and Nigeria.
Travel/Tourism
Airbus Showcases Hydrogen Aircraft Technologies

By Aduragbemi Omiyale
Airbus has provided an update on its roadmap to pioneer the future of commercial aviation in the decades to come, outlining plans to prepare a next-generation single-aisle aircraft that could enter service in the second half of the 2030s, as well as its revised ZEROe project roadmap to mature the technologies associated with hydrogen-powered flight.
This was at the 2025 Airbus Summit, where the firm reconfirmed its commitment to bringing to market a commercially viable hydrogen aircraft and presented some of the key technology building blocks that will enable the advent of a fully electric, fuel-cell powered commercial aircraft – a pathway which stands out as the most promising, following years of research into hydrogen aviation.
These technologies were notably showcased as part of a new, notional concept of a hydrogen aircraft powered by four, 2-megawatt electric propulsion engines, each driven by a fuel cell system that converts hydrogen and oxygen into electrical energy.
The four fuel cell systems would be supplied via two liquid hydrogen tanks. This concept will continue to be refined over the coming years as additional tests will help mature the technologies associated with hydrogen storage and distribution, as well as with the propulsion systems.
In 2023, Airbus successfully demonstrated a 1.2MW hydrogen-propulsion system, and in 2024, end-to-end testing of an integrated fuel cell stack, electric motors, gearboxes, inverters and heat exchangers was completed.
To address liquid hydrogen handling and distribution challenges in flight, Airbus, in collaboration with Air Liquide Advanced Technologies, has developed the Liquid Hydrogen BreadBoard (LH2BB) in Grenoble, France.
Integrated ground testing is planned for 2027 at the Electric Aircraft System Test House in Munich, combining the propulsive bench and hydrogen distribution system for comprehensive system validation.
“Hydrogen is at the heart of our commitment to decarbonise aviation. While we’ve adjusted our roadmap, our dedication to hydrogen-powered flight is unwavering.
“Just as we saw in the automotive sector, fully electric aircraft powered by hydrogen fuel cells have the potential in the longer term to revolutionise air transport for the better, complementing the sustainable aviation fuel pathway,” the Head of Future Programmes at Airbus, Bruno Fichefeux, stated.
“Over the last five years, we have explored multiple hydrogen-propulsion concepts, before down-selecting this fully electric concept. We are confident it could provide the necessary power density for a hydrogen-powered commercial aircraft and could evolve as we mature the technology.
“In the coming years, we will concentrate on advancing the storage, distribution and propulsion systems, while also advocating for the regulatory framework needed to ensure these aircraft can take flight,” the Head of the ZEROe Project at Airbus, Glenn Llewellyn, added.
Travel/Tourism
Trump Mulls Heavy Travel Ban on 43 Countries, Exempts Nigeria

By Adedapo Adesanya
Nigeria was exempted from a provisional list of 43 countries that the United States, under the administration of President Donald Trump, is mulling a new travel ban for their citizens.
Business Post reports that out of the 43 countries, 22 of them are in Africa but Nigeria is so far exempted.
According to reports, the draft list featured 43 countries, divided into three categories of travel restrictions – red, orange, and yellow.
The red category of countries whose citizens would be completely barred from entering the United States includes Afghanistan, Bhutan, Cuba, Iran, Libya, North Korea, Somalia, Sudan, Syria, Venezuela and Yemen.
Another 10 countries in the orange category — Belarus, Eritrea, Haiti, Laos, Myanmar, Pakistan, Russia, Sierra Leone, South Sudan and Turkmenistan — would see their visas sharply restricted.
The New York Times reported that in these cases, affluent business travelers might be allowed to enter, but not people traveling on immigrant or tourist visas.
Citizens from countries on the orange list would also have to undergo in-person interviews to receive a visa.
Another 22 countries on a yellow list would have 60 days to address US concerns or risk being moved up to one of the more stringent categories.
“The officials, who spoke on the condition of anonymity to discuss the sensitive internal deliberations, cautioned that the list had been developed by the State Department several weeks ago, and that changes were likely by the time it reached the White House,” the New York Times said.
This is reminiscent of moves carried out by President Trump in his first stint as president, when he banned some Muslim majority counties like Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen — which ignited international outrage and led to domestic court rulings against it.
Iraq and Sudan were dropped from the list, but in 2018 the Supreme Court upheld a later version of the ban for the other nations — as well as North Korea and Venezuela.
Already, the US President has frozen the US refugee admission programme and almost all foreign aid.
Provisional Ban List
Red list
Countries whose citizens would be completely barred from entering the United States include:
1. Afghanistan
2. Bhutan.
3. Cuba.
4. Iran
5. Libya
6. North Korea
7. Somalia
8. Sudan
9. Syria
10. Venezuela
11. Yemen
Orange list
Citizens from countries on the orange list would also have to undergo in-person interviews to receive a visa. These countries include:
12. Belarus
13. Eritrea
14. Haiti
15. Laos
16. Myanmar
17. Pakistan
18. Russia
19. Sierra Leone
20. South Sudan
21. Turkmenistan
Yellow List
They would have 60 days to address US concerns or risk being moved up to one of the more stringent categories. The following countries fall into that category:
22. Angola
23. Antigua and Barbuda
24. Benin
25. Burkina Faso
26. Cambodia
27. Cameroon
28. Cape Verde
29. Chad
30. Republic of Congo
31. Democratic Republic of Congo
32. Dominica
33. Equatorial Guinea
34. Gambia
35. Liberia
36. Malawi
37. Mali
38. Mauritania
39. St. Kitts and Nevis
40. St. Lucia
41. São Tomé and Príncipe
42. Vanuatu
43. Zimbabwe.
Travel/Tourism
End of Greece’s Golden Visa Could Curb Increasing Migrant Population

The latest analysis from Astons, reveals that Greece has seen a 14.6% increase in migrants settlers over the past 10 years, with almost 25,000 Americans settling in the Mediterranean paradise in 2024 alone. However, this trend could soon reverse, with rumours that Greece is set to call time on its Golden Visa offering.
Astons has analysed International Migrant data from the United Nations* and found that, in 2024, more than 1.4m migrants settled in Greece, marking a ten-year increase of 14.6% since 2015.
The largest proportion of migrants arrived from the European continent (913,652), followed by Asia (372,146), Africa (68,690), and North America (38,416).
On a national level, Greece welcomed the largest number of people from Albania (474,441), followed by Germany (123,912), Georgia (90,365), Bulgaria (90,365), and Russia (78,992).
Meanwhile, 24,748 migrants resettled in Greece from the USA, and 19,156 arrived from the UK, marking a ten-year increase of 8.6% in both instances.
Many migrants looking to settle in Greece opt for the nation’s Golden Visa as a pathway to gaining residency and figures from Astons show that an estimated 8,837 applications were made in 2024 – the highest number seen since 2019.
However, this could be about to change, as Astons has seen a sharp increase in activity so far this year, driven by investor urgency around rumours that Greece is set to withdraw its Golden Visa offering.
Citizenship, residence permit, and real estate investment expert for Astons, Alena Lesina, said, “Greece has become one of Europe’s most in-demand destinations for migrants from all over the world, but residency in the country is certainly most desirable for the ultra-wealthy due to its investment potential and favourable expat tax rules, which explains why almost 25,000 Americans have chosen to settle there in the past year alone.
“There are some rumors, but no official confirmation. However, we understand that the situation in any country with a Golden Visa program can always change. The European Commission is putting significant pressure on countries offering Golden Visas, and internally, there is growing tension related to the need to address housing issues.
“History shows a clear trend – Ireland’s Golden Visa was discontinued, Spain’s program will officially end on April 3 this year. Last year, Portugal removed the real estate investment option from its program. In 2022, the UK also shut down its Tier 1 investor program.
“For now, Greece is maintaining its program and we can reasonably expect that it will remain in place for at least another year. However, it’s best not to delay making a decision for too long in case they decision is made to call time on Greece’s Golden visa.”
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