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By Aduragbemi Omiyale A small aircraft crashed near the Murtala Mohammed International Airport (MMIA) in Ikeja, Lagos. The yet-to-be-identified helicopter, which is said to belong to a private owner, reportedly crashed in the Oba Akran area of Lagos State on Tuesday afternoon. According to reports reaching this newspaper, the pilots survived the air disaster. Two pilots were said to be flying the chopper when it burst into flames after it fell into a private property in the area. At the time of filing this report, we are yet to confirm what was responsible for the ill-fated helicopter crash. However, some

By Adedapo Adesanya  The Federal Ministry of Aviation says it will collaborate with the United States on direct flights to Texas in a bid to expand the horizon of the aviation industry and deepen the bilateral relations with the world’s largest economy. The Permanent Secretary, Mr Emmanuel Meribole, said this during a visit to the Ministry by a delegation from the United States led by the Mayor of Houston, Texas, Mr Sylvester Turner, on Tuesday in Abuja. The ministry promised the US delegation that the Federal Government of Nigeria would work on its requests for direct flights from Nigeria to

By Aduragbemi Omiyale In line with its expansion drive in Africa and Nigeria, in particular, three new hotels have been opened by Radisson Hotel Group in Lagos and Abuja. The hotels add over 400 rooms to the company’s portfolios in Nigeria, comprising 11 hotels in operation and under development, placing the group firmly on track to reach their objective of 15 hotels in Nigeria by 2025. The hospitality company said the additions include the highly anticipated debut of the bold and cutting-edge upscale lifestyle Radisson RED brand. The new Radisson RED Lagos, scheduled to open in the fourth quarter of

By Aduragbemi Omiyale A member of the House of Representatives, Mr Ado Doguwa, has disclosed that lawmakers, irrespective of their political affiliation, may not be able to prosecute the 2023 general elections if efforts are not made to allocate cash to them. Speaking after a meeting with President Muhammadu Buhari on Thursday in Abuja, Mr Doguwa, who is the Majority Leader of the lower chamber of the National Assembly, said lawmakers were entitled to N70 million each to pay polling agents and for other election running costs. He stressed that denying them access to “hard cash: would amount to planning

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has launched a nationwide raid of drug joints in an exercise code-named Operation Mop Up as part of law enforcement efforts to remove enablers of crime and violence in the form of illicit substances and those who deal in them with a view to ensuring peaceful inauguration of new administrations at national and sub-national levels across the country on May 29. Not less than 534 suspects have been arrested in the first few days of the commencement of the operation, during which tons of illicit drugs, including cocaine, heroin, methamphetamine,

By Dipo Olowookere Ms Patience Oniha has been announced as the new Director General of the Debt Management Office (DMO). Ms Oniha’s appointment as the new debt office boss was approved by the Acting President, Mr Yemi Osinbajo. She replaces the former DG of DMO, Mr Abraham Nwankwo, who retired from office after spending 10 years. Minister of Finance, Mrs Kemi Adeosun, announced the appointment of Ms Oniha yesterday in Abuja. The appointee had retired as a director in the agency and had also served in the efficiency unit of the Ministry of Finance before her recent post. Mrs Adeosun

By Dipo Olowookere Close to $100 million of fundraising has been injected already in 2018 into Africa’s bourgeoning fintech and mobile payments sector, with a significant amount of capital still to be deployed this year, and prospects for the sector looking bullish, according to telecom, media and tech news and events company, TMT Finance. EMEA Editor at TMT Finance, Joseph d’Arrast, stated said, “The increasing demand for payment transaction and lending services are attracting investment from mobile operators, banks and international funds, all jostling to position themselves across the continent. “These new initiatives also achieve inclusive goals set by international

By Adedapo Adesanya Oil prices dropped on Monday after conflicting reports emerged that the Organisation of the Petroleum Exporting Countries (OPEC) is not considering a half-million barrel daily output increase. Brent crude futures fell by 77 cents or 0.9 per cent to $86.85 a barrel, as the United States West Texas Intermediate (WTI) crude futures slipped by 58 cents or 0.7 per cent to $79.50 per barrel. Both benchmarks had plunged by more than $5 a barrel early due to the effect of the continued demand worry from China. However, the market recovered after the Wall Street Journal reported that

By Sodeinde Temidayo David Unilever Nigeria has begun a new hybrid working structure that permits its employees to work in the physical office twice weekly with adherence to COVID safety protocols. This is coming after working from home for 19 months as a result of the pandemic. Unilever Nigeria has now reopened its head office to workers under the new hybrid structure. Under the hybrid structure, Unilever employees are allowed to work at the physical office twice a week, while they continue working from home on other days. Welcoming employees to the physical office, the Managing Director, Unilever West Africa,

By Dipo Olowookere The last trading session for this week at the local stock exchange ended on a negative note on Thursday as a result of sustained profit-taking by investors. Business Post reports that the Nigerian Stock Exchange (NSE) fell by 0.27 percent yesterday to reduce the Year-to-Date (YtD) returns to 1.79 percent. In addition, the All-Share Index (ASI) went down by 103.25 points to close at 38,928.47 points, while the market capitalisation decreased by N37 billion to settle at N14.102 trillion. It was observed that the Financial Services sector topped the activity chart on Thursday with 261.6 million shares

By Adedapo Adesanya The Bureau of Public Enterprises (BPE) has named members of the interim management team for the Abuja Electricity Distribution Company (AEDC) as part of plans to quell the recent scandal that hit the company. A statement issued on Thursday outlined the interim management team to include Bada Akinwumi as managing director; Sani Usman as the chief business officer; Babajide Ibironke as the chief finance officer; Donald Etim as the chief marketing officer; and Femi Zacchaeus as the chief technical officer. The Abuja DisCo was recently taken over by the United Bank for Africa (UBA) following the failure