Travel/Tourism
Zenith Bank Reaffirms Commitment to African Aviation Financing
By Aduragbemi Omiyale
The chief executive of Zenith Bank Plc, Mr Ebenezer Onyeagwu, has reaffirmed the lender’s determination to ensure that African airline operators get the necessary funding support to grow their businesses.
Securing adequate funding poses a significant hurdle for African carriers. Financing conditions for African Airlines are generally less favourable compared to other regions.
Consequently, African airlines encounter challenges in acquiring and executing renewal and expansion initiatives.
In November 2023, Ibom Air, an airline owned by the Akwa Ibom State government, received an Airbus A220, with Zenith Bank involved in the financing.
“At Zenith Bank, we know how important the role financial institutions play in acting as economic enablers.
“We also understand how important the aviation sector is to facilitating economic growth in Nigeria and across the broader African continent.
“This landmark agreement solidifies our commitment to supporting regional carriers and advancing the landscape of African aviation financing,” Mr Onyeagwu stated.
Also commenting on the transaction, the Chief Operating Officer of Ibom Air, Mr George Uriesi, said, “Aircraft financing is a collaborative effort and the support of regional banks is pivotal.
“This synergy fosters a sustainable aviation ecosystem, allowing us to soar higher and drive positive socio-economic impact in Nigeria and the broader continent. Nigeria is widely recognised as the African market with the highest growth potential and we aim to be at the forefront of that growth.”
On his part, the Head of Customer Finance at Airbus, Mr Boris Sakrauski, said, “Over the past five years, more than 60 Airbus aircraft were delivered to the African continent via lessors and various financing structures. We are thrilled to now have Zenith Bank in the arena of new Airbus aircraft financiers.
“We hope that its involvement in the sector sends a powerful signal to other banks and financial institutions in Nigeria and across the continent about the exciting potential of the African aviation sector.”
According to the 2023 Airbus Global Market Forecast (GMF), airlines serving Nigeria will require nearly 160 passenger and freight aircraft in the next two decades.
This includes 131 single-aisle aircraft such as the A220, and A320 families, and 28 widebody aircraft such as the A330 and A350 families.
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce V-Pass, a biometric facial recognition system designed to make passenger processing faster, safer and more seamless across its domestic airports.
According to FAAN, the new technology will allow passengers to verify their identities through facial recognition after a one-time enrolment, reducing reliance on physical identification documents and shortening queues through automated electronic gates.
The authority said the system is expected to enhance airport security while improving the overall travel experience for domestic passengers.
FAAN added that V-Pass has been developed with data privacy at its core and is compliant with the Nigeria Data Protection Regulation (NDPR).
The agency described the initiative as part of its commitment to delivering smarter, technology-driven airport services and said nationwide sensitisation and rollout updates would be announced in due course.
Airports in countries including the United States, the United Kingdom, Singapore and the United Arab Emirates already deploy facial recognition technology for processes such as check-in, security screening, immigration and boarding, so the move also aligns Nigeria’s aviation sector with a growing global trend towards contactless travel.
These systems have been adopted to improve operational efficiency, strengthen security and enhance the overall passenger experience.
For FAAN, the deployment of V-Pass forms part of its broader digital transformation agenda aimed at modernising airport operations and accommodating rising passenger traffic.
Experts say that beyond improving convenience, the authority expects the biometric platform to strengthen identity verification, reduce the risk of impersonation and support more efficient airport security, while maintaining compliance with data protection.
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
