Travel/Tourism
Capital Hotels to Raise Fresh Funds, Meet 20% Free Float Rule
By Modupe Gbadeyanka
One of the players in the hospitality business in Nigeria, Capital Hotels Plc, is considering raising fresh capital from the Nigerian Stock Exchange (NSE).
The executives of the company confirmed this on Wednesday during their Facts Behind the Figures presentation, which was done virtually at the exchange. It was the first to be held after the COVID-19 pandemic limited physical interactions in the country.
Chairman of Capital Hotels, Mr Anthony Idigbe, and the Managing Director, Mr Robert Itawa, noted that the organisation will take advantage of the laytime investment opportunity the pandemic has provided to the source for additional funds.
At the gathering, they shared some of their plans to further engage with their shareholders and improve compliance with the 20 per cent free float requirement of the exchange.
Business Post gathered that Capital Hotels has a 2.99 per cent of free float and has requested to comply by August 16, 2021.
Companies listed on the main board of the NSE are required to have at least 20 per cent of their issued and fully paid-up shares in the hands of the investing public so as to make their securities liquid at the market.
At the event yesterday, the company thanked the exchange for the opportunity to engage the capital market community on its platform, expressing optimism that it will navigate through the crisis caused by coronavirus.
The hospitality sector is one of the most badly affected by the contagion, but the Capital Hotels team believes it can still remain strong and deliver value to shareholders.
While speaking yesterday, the CEO of the NSE, Mr Oscar Onyema, who was represented by Mr Olumide Bolumole, Head of Listing Business Division at the exchange, noted that, “It is our pleasure to host Capital Hotels Plc and we commend the Management for championing the maiden edition of this vital series given that the market is driven by timely, relevant and accurate information.
“We recognize the efforts made by Capital Hotels Plc aimed at improving business operations and restoring investor confidence in the company despite the impact of the COVID-19 pandemic.
“At the exchange, we remain committed to providing a platform for the company and other Issuers to meet their strategic business objectives.”
In spite of the challenging business environment, Capital Hotels Plc has consistently delivered value to shareholders as evident in its dividend policy over the last three years and demonstrated by a final dividend of 5 Kobo per ordinary share for 2019.
One of the highlights of the event was the privilege given to Mr Idigbe to sound the digital closing gong of the NSE.
Capital Hotels is the operator of the prestigious Sheraton Hotel.
By Adedapo Adesanya
The Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggage.
The Director of Public Affairs and Consumer Protection for NCAA, Mr Michael Achimugu, disclosed this at a stakeholder engagement forum in Lagos on Tuesday.
Mr Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Mr Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The aviation agency said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
From free date changes to industry-first comprehensive travel insurance, Emirates continues to give customers greater flexibility and more choice, as well as the ability to tailor their travel plans for more peace of mind, from booking to the moment they arrive at their destination.
Here are the latest measures at a glance:
1. Unlimited free date changes to Dubai
From 10 August 2026, customers travelling to Dubai can change their travel dates as many times as they need, free of charge, across every type of fare. Unlimited, free of charge changes run across Saver all the way through to Flex fares in Economy, and for Special, Saver and Flex fares in Business Class.*
Economy Flex Plus, Premium Economy, Business Flex Plus and First Class fares continue to remain fully flexible.
2. Refunds, at a fraction of the cost
Emirates has also substantially reduced refund fees on flights to Dubai to US$50 on Saver fares and US$25 on Flex fares in Economy. In Business Class, refund fees will be US$50 on Special and Saver fares and US$25 on Flex fares.** Together with unlimited free date changes to Dubai, this latest measure means customers can adjust or step away from a booking with minimal penalties, whatever their circumstances.
3. A free date change anywhere across the network
Customers travelling anywhere on the Emirates network receive one free date change on tickets booked from 2 April 2026, including journeys connecting through Dubai. Customers can also hold a fare for 24 hours at no charge while they finalise their plans.*
4. Comprehensive Travel Cover
Emirates’ Comprehensive Travel Cover is an industry-first insurance product covering a range of scenarios, including added conflict cover with reimbursement of medical expenses up to US$25,000 and a free trip extension of up to 30 days. The cover is not restricted by government travel advice. Customers are also covered for trip cancellation, baggage delay and loss, in addition to unlimited worldwide medical expenses and emergency evacuation.
Available at an accessible premium and across 27 countries, the cover can be purchased at the time of booking on emirates.com or added to an existing booking through Manage Booking.
Where flights are disrupted, Emirates will support impacted customers with accommodation directly. Where onward connections on other airlines are affected, or Emirates services are unavailable, customers are rebooked to their destination at no additional cost, including where cancellations are caused by airspace disruptions.
5. More flexibility and savings for Emirates Skywards members
Emirates Skywards members can get more from their journeys, with greater flexibility, more opportunities to progress their tier and additional savings when using their Miles.
Until 31 August 2026, members can benefit from:
- 20% fewer Tier Miles required to reach Silver, Gold and Platinum status.
- 20% bonus Tier Miles on Emirates and flydubai flights.
- More savings with Cash+Miles, with a special rate of 2,000 Miles = USD 30, instead of the usual USD 15, when using Miles towards Emirates or flydubai flights, excess baggage, lounge access and seat selection.
* An applicable fare difference may apply.
** No show fees remain unchanged.
By Adedapo Adesanya
The Nigeria Civil Aviation Authority (NCAA) has appealed to aviation unions to suspend their ongoing industrial action and exercise restraint as efforts continue to resolve the dispute.
In a statement, the NCAA said it was aware of the impact of the industrial action on passengers and other stakeholders in the aviation sector.
The authority urged the unions to “sheathe their swords” pending the return of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, who it said had been actively working towards resolving the issues.
According to the NCAA, the matter was expected to be addressed at a meeting convened by the minister last week, but the meeting could not take place after airline operators failed to honour the invitation.
The NCAA assured passengers that flight safety remains uncompromised, stressing that it continues to carry out its statutory safety oversight responsibilities.
The authority called on all parties to embrace dialogue and cooperation, expressing confidence that the dispute would be resolved shortly and normal flight operations restored as soon as practicable.
“We appeal to all parties to embrace dialogue and cooperation. We are confident that the matter will be resolved shortly and normal flight operations will resume as soon as practicable,” the statement signed by the NCAA Director-General, Captain Chris Ona Najomo, said.
The NCAA also apologised to passengers for the inconvenience caused by the industrial action and thanked them for their patience and understanding.
