Nigeria’s Aviation News Headline for Wednesday November 2, 2016

-


 

Domestic Airlines Seek $50m Grant from CBN’s Special Forex Window


Arik Air's CRJ1000. photo credit: www.arikair.com

Domestic airline operators in the country have appealed to the Central Bank of Nigeria (CBN), to allot the local industry at least $50million grant from the foreign exchange (forex) special intervention programme.
The airlines, while commending the take-off of the programme, said domestic operators deserved equally wider forex window like their foreign counterparts, given their more important role in development of the local economy.
Recall that the CBN, following agitations by stakeholders, in October intervened in the inter-bank forex market, granting concession to some sectors, through forward settlement.
Besides aviation, raw materials and machineries for manufacturing companies and agricultural chemicals are other beneficiaries.

The CBN’s Special Secondary Market Intervention Sales (SMIS) is, however, a one-off exercise dedicated to the clearance of the backlog of matured forex obligation for airlines, especially the international carriers that have funds stuck in Nigerian.
The Guardian yesterday learnt that the forex bidding processes opened about two weeks ago, with invitation sent to the airlines to place their request.
Some airlines, however, could not meet the deadline as the invitation allegedly came without prior notice and closed too soon.
For airlines that made submission, on the basis of naira, they could immediately pool their forex grants expected within 60 days.
Chairman of Arik Air, Joseph Arumemi-Ikhide, said considering the need of the local airlines, they deserved more than what they had been given in the short period that the window was opened for bidding.
Arumemi-Ikhide stressed that all activities of the airlines, from maintenance to fuel and other services are denominated in foreign exchange.
http://guardian.ng/business-services/domestic-airlines-seek-50m-grant-from-cbns-special-forex-window

Arik: Our $8m Trapped in Angola, Sierra Leone

 arik

…Airlifts 19.5 million passengers in 10 years
Nigeria’s flag carrier, Arik, said it has deployed diplomatic option to get its $4.5 million trapped in Luanda, Angola just as there are indications that the carrier also has almost the same amount of money trapped in Sierra Leone.
Chairman of Arik Air, Sir Joseph Arumemi-Ikhide, made the disclosure to New Telegraph on the sidelines of press briefing on the 10th anniversary of the airline in Lagos, stressing that the carrier has made moves to recover its money in those countries.
He, however, stated that he was optimistic that the monies would be released, but noted that the trapped funds would have been more helpful to the carrier.
 As at two months ago, airlines trapped fund in Nigeria was close to $600 million, but the government released $300 million to the carriers that have scaled down their operations while others outrightly stopped their services because of recession that have made
people shun air travels.
https://newtelegraphonline.com/arik-our-8m-trapped-in-angola-sierra-leone

Comments

Post a Comment

Popular posts from this blog

Healthy diet for the rainy season

-
Image
Along with the showers comes the risk of various diseases like food poisoning, diarrhoea, dysentery and cholera. Again, in rainy season, digestion is generally weak. Therefore, you should eat less. It is also essential to fast once a week or fortnight. People eat some incorrect food during this time and fall sick. To protect your health, follow this dietary guideline: •Avoid heavy, salty food, as it promotes water retention and bloating. It is better to have medium or low salt food •Eat foods which are drying in nature, the most popular being corn, and oats, among others. Eating watery foods like rice and watermelon creates swelling in the body •Maintain the general hygiene while eating out and definitely avoid roadside vendors, as very few people have the high immunity to handle the bacterial overload at such places •The milk is the better diet in this season. Drink butter milk, as it improves digestion. Oily food should be taken in less quantity •Eat li...
Read more

Managing lactose intolerance in children

-
A concerned mom shared her experience with other mothers about the likely causes of diarrhoea in children: “When my daughter was two months old, she started having diarrhoea. I let this go on for a couple of days and then took her to our family doctor. The doctor told me that she has gastroenteritis (infectious diarrhoea). I was given oral re-hydration solution and Flagyl syrup. After a couple of days, she still wasn’t any better and I was at my breaking point. So, I scheduled an appointment with another doctor in order to get a second opinion. The new doctor that I now call my daughter’s pediatrician said that she didn’t think that the baby has gastroenteritis. She said that she was likely to be lactose intolerant and had colic. She told us that when a baby is developing intolerance to cow’s milk, a symptom of that is diarrhoea. So, she advised us to change her baby formula, and, immediately, the diarrhoea stopped.” Lactose (milk) intolerance happens whe...
Read more

When fibroid co-exists with pregnancy

-
Image
                        Dr. Samuel Adebayo Uterine fibroid, also known as Leiomyoma, is a benign (non-cancerous) tumour of the uterus (womb). Fibroids are the most common benign tumours in females and they occur during the reproductive years. They occur in up to 50 per cent of women. The exact cause of this tumour is unknown; but some factors are associated with increased chance of developing uterine fibroid. A family history is a factor. History of fibroid developing in women of the same family or race plays a role in a woman’s life. African women have between two and three times chances of developing fibroid than white women. Also, African women develop fibroid at a younger age, usually in their 20s and above, unlike white or caucasian women where fibroid may occur in their 30s or 40s. No pregnancy or low pregnancy rate increases the risk, just as early onset of menses...
Read more