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FCMB Backs 2016 Ojude Oba Festival

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FCMB Ojude Oba

By Modupe Gbadeyanka

The 2016 Ojude Oba Festival in Ijebu-Ode, Ogun State, will again have the full support of First City Monument Bank (FCMB) Limited, the company has said.

FCMB has always thrown its weight behind the event, which is attended by several people from across the world.

Group Head, Corporate Affairs of FCMB, Mr Diran Olojo, at a press conference organised by the Ojude Oba Festival Planning Committee in Ijebu-Ode on August 29, 2016, explained that the Bank’s continuous support of the Ojude Oba Festival is borne out of its commitment to celebrate and preserve Nigeria’s cultural heritage, while also boosting the tourism sector in line with the government’s ongoing drive to diversify the country’s economy.

FCMB has in the past 10 years continued to play a significant role in ensuring the success of the Festival.

The 2016 edition of the festival holds in Ijebu-Ode, Ogun State, on Wednesday, September 14, 2016.

The Ojude Oba (which in Ijebu dialect means, the king’s fore-court or frontage) is a major festival in Nigeria that began over 100 years ago.

It brings together all sons and daughters of Ijebuland in Nigeria and diaspora for a carnival-like celebration of the traditional, cultural, spiritual accomplishments and other values of the Ijebu nation.

During the Festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses – throng the palace of the Awujale and Paramount Ruler of Ijebuland to pay homage to him amidst prayers and other fun-filled activities.

In a goodwill message to the Awujale of Ijebuland, Oba (Dr) Sikiru Adetona on the occasion of this year’s Ojude Oba Festival, the Chief Executive Officer of FCMB, Mr Ladi Balogun, congratulated the monarch for upholding the values of Ijebuland and raising the status of the event over the years.

He stated that FCMB is committed to the longevity of the Ojude Oba Festival, and was proud to be associated with it.

“The Ojude Oba Festival has become a long standing yearly tradition we look forward to as a unifying factor and a tourist attraction.

“For over a century, the Festival has gone a long way to showcase, amplify and promote our cultural heritage.

“FCMB has been a major supporter of the Ojude Oba Festival for more than a decade and it has been a mutually beneficial journey.

“As a socially responsible corporate citizen, we realise that globalisation, though essential, could also become a threat to the cultural identity of a people. We also recognise that celebrating the heritage and diversity of Nigeria is important in educating generations to come about the evolution of our country,” Mr Balogun emphasised.

In the same vein, the Founder of FCMB Group who is also the the Olori Omo-Oba Akile Ijebu, Otunba (Dr) Michael Olasubomi Balogun (CON), in a goodwill message to the paramount ruler of Ijebuland expressed his gratitude to the Awujale, especially considering the paramount ruler’s selflessness in attending to the different requests and yearnings of the people of Ijebuland.

In a message delivered on his behalf by Mr Olojo, the spokesman of FCMB, Otunba Balogun commended Oba Adetona for his, “distinguished and exemplary leadership over the years which have continued to endear you to all of us.”

While congratulating the entire indigenes of Ijebuland, the FCMB Founder also prayed that the monarch’s reign would, ‘’continue to bring joy, prosperity and robust health, all in abundance to the entire Ijebu race, at home and in the diaspora, in all that you endeavour to do for our people.”

Apart from the glitz and colours associated with the annual Ojude Oba Festival, the event provides an opportunity for the indigenes of Ijebuland, their associates and well-wishers to discuss pertinent issues that fast-track the development of the Ijebu nation.

The Festival also boosts business activities, tourism and the general hospitality sector in the area, thereby contributing to socio-economic development.

First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Travel/Tourism

Airlines Fault Claims of Unpaid NCAA Regulatory Fees

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Modular Refinery for Aviation Fuel

By Adedapo Adesanya

The Airline Operators of Nigeria (AON) has denied owing cost recovery charges to the Nigeria Civil Aviation Authority (NCAA), insisting that all services rendered by the regulator to domestic airline operators are paid for fully in advance on a cash-before-service basis.

In a statement from the airlines’ body, it was emphasised that no domestic airline in Nigeria receives NCAA regulatory services without first making full payment of invoices issued to it by the agency, describing suggestions of the indebtedness for regulatory services as factually inaccurate.

It said that what the NCAA refers to as ‘outstanding charges’ relates solely to the 5 per cent Ticket Sales Charge (TSC), a tax imposed by the NCAA on passengers, which it said is not in consonance with the dictates of international aviation.

The AON then urged the federal government to urgently amend the Civil Aviation Act to empower the NCAA to collect whatever appropriate fees and charges are due it directly from passengers or whoever else, without routing such through the domestic airlines, from June 1, 2026.

It said doing this will relieve domestic airlines of the financial burden of acting as collection agents for the NCAA, since airlines currently bear banking transfer charges and other transaction costs in the process of transmitting funds to the organisation.

The airline body reiterated its position that the NCAA is a regulator, not a revenue-generating agency and that it does not fund any aspect of the airline businesses or render any direct service to passengers.

The AON said every service the agency provides to airline operators is fully paid for in advance before it is rendered.

“The AON notes that several member airlines maintain dedicated accounts, from which the NCAA draws down its monthly remittances, until the force majure caused by the Iran-Israel/USA conflict, which had put a lot of financial pressure on airlines worldwide.

“Notwithstanding this arrangement, the AON had formally appealed to the federal government through the office of the Minister of Aviation and Aerospace Development, to suspend the payment of all statutory charges temporarily, as an interim measure to assist airlines in managing their cash flows during the current period of severe financial stress caused by the increase in the cost of Jet A1.

“As an interim response, President Bola Tinubu graciously granted a 30 per cent concession while waiting for the government’s decision on the other aspects of the AON intervention request.

“While the AON acknowledges and appreciates this gesture, we had appealed for a meeting with Mr President to discuss further reliefs, a request that is yet to be granted,” the AON said.

Speaking further on reports that airlines owe billions in debt to the NCAA, the AON said the 5 per cent Ticket Service Charge in question was introduced over 45 years ago under the Government of General Gowon by the then Federal Civil Aviation Authority (FCAA) and its continued relevance has not been reviewed ever since.

It further stated that domestic airlines, in addition to the 5 per cent TSC, still pay separately ànd directly for services provided by the various industry agencies, including the NCAA itself.

AON said that the 5 per cent TSC is an ad valorem tax applied to an airline’s gross earnings, not profits and that the global aviation industry operates at a profit margin of between 1.5 per cent and 2.5 per cent at best.

“The AON remains committed to constructive engagement with the government and all stakeholders to achieve a growth-oriented sector, designed to enable the accelerated growth of key sectors of the economy and the improvement and sustenance of a healthy quality of life for the citizenry,” it said.

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Airline Remittances: NCAA Halts Enforcement of ‘No Pay, No Service’ Policy

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NCAA

By Adedapo Adesanya

The Nigeria Civil Aviation Authority (NCAA) has announced the temporary suspension of its “no pay, no service” directive earlier issued to airlines with outstanding statutory remittances, citing ongoing consultations and prevailing operational challenges in the aviation sector.

In a statement, the authority said the decision followed a review of industry conditions, particularly the rising cost of aviation fuel, which has placed significant financial pressure on domestic carriers and threatens overall sector stability.

However, the NCAA stressed that the suspension does not amount to a waiver, cancellation, or forgiveness of the debts owed by the affected airlines, noting that such decisions fall outside its regulatory mandate.

The agency recalled that President Bola  Tinubu had earlier approved a 30 per cent discount on outstanding statutory charges owed by domestic airlines to aviation agencies, as part of broader government efforts to cushion the impact of high Jet A1 fuel costs and stabilise the industry.

According to the NCAA, airlines remain fully responsible for settling their obligations, adding that it would engage operators individually to ensure compliance through structured repayment arrangements that do not disrupt operations.

The regulator also clarified the nature of the 5 per cent Ticket and Cargo Sales Charge, describing it as a statutory levy mandated by the Civil Aviation Act and embedded in the cost of air travel and cargo services.

It explained that the charge is collected by airlines at the point of ticket and cargo sales on behalf of the aviation system and must be remitted accordingly.

The organisation emphasised that the funds do not constitute revenue or profit for the airlines and should not be treated as such.

It further noted that the revenue from these charges is distributed among key aviation institutions, including the regulator itself and other service providers, all of which play vital roles in ensuring safe, efficient, and internationally compliant aviation operations.

It added that the NCAA operates on a cost-recovery basis and does not receive direct funding from the Federal Government for its routine regulatory activities, making timely remittance of statutory charges critical to sustaining its oversight functions.

The suspension of the enforcement directive, it said, is a measured step aimed at maintaining operational stability in the sector while reinforcing the obligation of airlines to remit collected charges.

The NCAA reaffirmed its commitment to balancing regulatory enforcement with industry sustainability, warning that statutory funds already collected must be remitted for their intended purposes.

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Emirates Skywards Commences ‘Season of Rewards’ Campaign

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Emirates Skywards

By Modupe Gbadeyanka

A new campaign designed to celebrate its passengers across the globe has been launched by Emirates Skywards, a statement from the company confirmed.

The promotion is known as Season of Rewards, and will run from May 21 to August 31, 2026, with beneficiaries getting different rewards for their patronage.

The Skywards Season of Rewards offers more savings with Cash+Miles on Emirates and flydubai, with members unlocking twice the savings, including enhanced Cash+Miles rates across the Emirates and flydubai network when booking flights and extras (excess baggage, lounge access and seat selection. The offer applies across all classes of travel, fare brands and destinations on both airlines. With the limited-time offer, 2,000 Skywards Miles can unlock savings of $30 instead of $15.

In addition, passengers will receive extra tier benefits for travel up until August 31, 2026. Members earn a 20 per cent bonus Tier Miles on every Emirates or flydubai flight, helping members move through the tiers faster. With reduced Tier Miles required during this period, it’s now even easier for members to renew or upgrade their membership status.

Also, they will get 50 per cent bonus Miles with travel partners, including Emirates Skywards Hotels, Marriott Bonvoy, IHG Hotels and Resorts, Jumeirah and more. However, registration is required to participate, and bonus Miles will be credited within 60 days after the end of the offer period.

Further, Skywards members can book their next reward flight and extras with Miles, starting from 4,500 Miles instead of 9,000 Miles during the promo period across all routes, cabins and fares.

“Skywards Season of Rewards reflects our continued commitment to creating even more value for our members worldwide.

“Whether members are planning a family holiday, a Dubai stopover, a weekend escape, or simply looking to maximise rewards across their travel spend – this initiative unlocks more opportunities to earn, save and experience the world with Emirates Skywards,” the DSVP Emirates Skywards, Nejib Ben Khedher, said.

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