Aviation stakeholders have submitted that the Minister of Aviation and Aerospace Development, Festus Keyamo, miscalculated by grounding Arik Air over a $2.5 million debt, noting that the Asset Management Company of Nigeria (AMCON) has an interest in the acquisition of assets of the airline.
Aviation stakeholders have submitted that the Minister of Aviation and Aerospace Development, Festus Keyamo , miscalculated by grounding Arik Air over a $2.5 million debt, noting that the Asset Management Company of Nigeria has an interest in the acquisition of assets of the airline. Aviation stakeholders have submitted that the Minister of Aviation and Aerospace Development, Festus Keyamo , miscalculated by grounding Arik Air over a $2.
The stakeholders wondered how AMCON allowed the matter to go all the way to the Supreme Court and while the judgment debtor only applied to have these assets attached recently and not as part of the judgment against Arik. However, another top commentator said the minister committed a “real blunder,” insisting “it goes against everything he has been preaching about developing the dry lease space in Nigeria.”
Barely 24 hours after President Bola Tinubu assured citizens of addressing their concerns, the exchange rate for the Nigeria Customs Service duties collection for imported goods at the seaports increased to N1,618/$1. The Central Bank of Nigeria said it had concluded plans to re-introduce the Retail Dutch Auction System to mitigate foreign exchange demand for eligible transactions through authorised dealers.
With over N1 trillion loss suffered by stock market investors in July, shareholders have urged the Federal Government to create grant incentives to listed firms to halt the slide.Pan African Towers Ltd, Nigeria’s leading provider of digital infrastructure has announced the appointment of Jyoti Desai and Vivek Gupta as Non-Executive Directors, with effect from May 21st, 2024.
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