Kenya Airways Begins Non-Stop Daily Flight to New York

By Adedapo Adesanya Flutterwave has joined the International Air Transport Association’s (IATA) payment orchestration platform to facilitate travel-related payments easily to sub-Saharan Africa. With this integration, airlines worldwide can process customer payments through cards, bank transfers, mobile money, alternative payment methods and other payment modes available on Flutterwave. IATA Financial Gateway (IFG) is an omnichannel payment orchestration and management platform fully dedicated to the airline industry. It has been designed to allow airlines to receive local payments from local markets through all their distribution channels. IATA has some 290 international airlines; this partnership enables them to easily expand their operations

By Adedapo Adesanya  Global mobility and urban services platform, inDrive, has launched the first-of-its-kind in South Africa known as name your price freight service – inDrive.Freight, targeting the needs of small businesses and individuals. In a statement, the California-headquartered company said inDrive.Freight offers a comprehensive range of non-liquid freight transportation solutions, whether it’s the delivery of small parcels or large shipments. The service also aims to deliver reliability and efficiency for last-mile in-city routes, with same-day delivery available on demand. The service will launch in the South African cities of Cape Town and Johannesburg, a move the company said signifies

By Modupe Gbadeyanka All the employees of Azman Air except for a few senior executives have been sent on compulsory after the management suspended the company’s operations. The leave is without pay, according to a circular issued to members of staff, signed by the Human Resources Manager, Magaji Mohammed Misau. According to Leadership Newspaper, the airline operator took this step because its Boeing 737 aircraft taken abroad for C-check maintenance was yet to return. This has rendered the organisation’s commercial operations useless, especially after the conclusion of the Hajj operations last month. “As you are aware that our domestic operations

By Dipo Olowookere Insurance companies operating in Nigeria have been given a one-month extension for the submission of their first quarter financial statements. The insurers are supposed to file the results latest April 30, 2020, but the coronavirus pandemic has forced businesses to lock down or operate remotely. In a statement issued some hours ago, the National Insurance Commission (NAICOM) said the submission of first quarter returns has been extended by one month in the interim. It then urged all operators to comply with safety precautions issued by the National Centre for Disease Control (NCDC) and the federal government. The

By Investors Hub The major U.S. index futures are currently pointing to a higher opening on Friday, with stocks likely to extend the upward move seen over the three previous sessions. Optimism about trade talks between the U.S. and China is likely to contribute to continued strength on Wall Street after yesterday?s Wall Street Journal report indicating the U.S. is considering lifting tariffs on Chinese goods. Government officials have denied the report, although traders have recently been unrelentingly upbeat despite uncertainty about trade, the global economic outlook, and the ongoing U.S. government shutdown. After turning in a lackluster performance for much of

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange was pulled into bearish territory on Thursday, January 12, by a drop in the stock price of Central Securities Clearing Systems (CSCS) Plc. The equities of the company punctured the unlisted securities market by 0.24 per cent at the close to trades yesterday. This scrapped off N2.19 billion from the total value of the alternative exchange as the market capitalization closed at N927.42 billion compared with the N929.61 billion it quoted at the previous session. Also, the NASD Unlisted Securities Index (NSI) shed 1.67 points to end the day at 705.79

By Modupe Gbadeyanka Next month, Nigeria plans to sell $2.5 billion Eurobond and proceeds from the sale would be used to fund the 2017 budget, Bloomberg reports. Also, after the October Eurobond sale, the Federal Government will issue another $3 billion Eurobond before the end of the year, the reputable media outfit added. This would bring to $7 billion the country has sold this year alone. Here is the Bloomberg report Nigeria plans to sell as much as $5.5 billion of Eurobonds in the next three months to fund capital projects and replace local-currency debt, according to the Debt Management

By Adedapo Adesanya MTN Nigeria has announced that Nigeria has become the first country in West Africa to test run and experience 5G technology potential and applications. This came as a result of a strong collaboration between the Ministry of Communications Technology and Digital Economy, the Nigerian Communications Commission (NCC), MTN and Huawei (Abuja), ZTE (Calabar) and Ericsson (Lagos). This immersive trial and experience will travel across three Nigerian cities to showcase the capabilities of 5G and its potential to enable economic growth, and social inclusion. Speaking shortly after taking a tour of the exhibition booths, Minister of Communication Technology

By Adedapo Adesanya The African Development Bank (AfDB) has announced the debarment of Sargittarius Nigeria Limited and its affiliates, including Sargittarius Henan Water Conservancy Engineering Limited, for a period of 18 months. The Abidjan-based lender said the company was barred from executing its projects for fraudulent practices and will take effect from July 28, 2021. An investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that Sargittarius Nigeria Limited engaged in fraudulent practices during tenders for the construction of water infrastructure in Ibadan, Nigeria, under the Urban Water Supply and Sanitation Improvement Project in Nigeria. The debarment renders

By Adedapo Adesanya The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) agreed on Tuesday to continue gradually easing production cuts amid a rebound in oil prices. The alliance of oil producers which consists of the original OPEC members and other producers led by Russia will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the market between May and July. However, the production policy beyond July was not decided on, and the group will meet again on July 1. This came as no surprise as the market

By Adedapo Adesanya The Asset Management Corporation of Nigeria (AMCON) has submitted a list containing its top 1,000 obligors owing N4.4 trillion to the National Assembly. AMCON made this revelation to members of the House of Representatives Committee on Banking and Currency at the just-concluded retreat of the committee in Lagos. The handing over followed the signing into law the Asset Management Corporation of Nigeria (Amendment) Act, amending the AMCON Act No.4, 2010 by President Muhammadu Buhari. The AMCON Act provides for the extension of the tenor of the Resolution Cost Fund (RCF) and grants access to the Special Tribunal