Business

‘Stop The Killing’

Published

12 years ago

July 18, 2014

Golda Mabovitz was born in Kiev, Ukraine in
1898. Her parents emigrated with their family to the United States in 1906 where she attended school and teacher training college in Milwaukee. She joined the Labour Zionist Party in 1915, an early indication of her political interest.
In 191 7 she married Morris Myerson and later changed her married name to Meir.
As a qualified teacher she taught in local schools for several years, but in 1921 she and Morris went to live in Palestine, joining a kibbutz where they helped with farm work, before moving to Tel Aviv where Golda Meir worked as a treasurer in the Office of Public Works of the Histadruth (Trades Union Federation).
From 1928, as secretary of the Working Women’s Council in Palestine, she became its representative on the executive of the Histadruth. From the following year she acted as a delegate to congresses of the World Zionist Organisation and became increasingly involved with politics as a member of the executive of the Jewish National Council in Palestine.
In 1948 Golda Meir was appointed a member of the Provisional Government and became Israel’s Ambassador to the Soviet Union. She joined the Knesset in 1949, serving as Minister of Labour and National Insurance until 1956, when she became Foreign Minister, a post she held for ten years. In this period, she came to international prominence, continuing a close relationship with the United States, and also forging links with South America and the newly independent countries of Africa.
This was a difficult period for the young state of Israel. It featured armed struggles with nearby Arab countries, including the Six-Day War in June 1967 when Israel attacked Egypt, Syria and Jordan, gaining much territory, including East Jerusalem, the West Bank, Sinai and the Golan Heights, and causing simmering Arab resentment.
Golda Meir finally become Prime Minister in March 1969, at the age of 71. In a famous address to the Knesset in May the following year, she offered to extend the hand of peace to Israel’s Arab neighbours but also voiced her fears about their aggressive intentions, warning in particular of Egypt’s military relationship with the Soviet Union.
Sadly, her worst fears were to come true with the outbreak of the Yom Kippur War on 6 October 1973, when Egypt and Syria combined forces against Israel. Meir and her Labour Party won the election of December 1973 but in 1974 she resigned, in the aftermath of the war .
… In recent months, and in the past weeks especially, the security situation worsened seriously on the southern front in particular, and the harmful effect that is felt on the other fronts also.
The main feature of this escalation and tension is an advanced and dangerous stage of Soviet involvement in Egypt, at the beck and call of Egyptian aggressive and infractions of the ceasefire. There is no precedent for this involvement in the history of Soviet penetration into the Middle East, and it is encouraging Egypt in its plan to renew the war of attrition and so move further along the path of its vaulting ambition to vanquish Israel. …
The Israel Defence Forces have punished this vainglorious aggression. I shall retell the tale of their courage and resource: the digging in, the daring operation of the Air Force, the power of the armour. Aggression has been repelled, the enemy’s timetable upset and the pressure on our front line eased by our strike at vital enemy military targets along the Canal and far behind it and confouncding his plans for all-out war. True, to our great sorrow, we have suffered losses in killed and wounded, but our vigorous self-defence has thwarted Egypt’s scheming and stultified its endeavours to wear us down and shake our southern front.
‘No small nation, no minor nation, can any longer dwell in safety within its frontiers.’
Thus bankrupt, the Cairo regime had only the choice between accepting Israel’s constant call to return to reciprocal observance of the ceasefire, as a stepping-stone to peace, or leaning more heavily still on the Soviet Union to the point asking it to become operationally involved, so that Egypt might carryon the, of attrition, notwithstanding the unpleasant repercussions of that involvement Egypt chose the second course .
… We have informed Governments of the ominous significance of this new phase in Soviet involvement. We have explained that a situation has developed which ought to perturb not only Israel, but every state in the free world. The lesson of Czechoslovakia must not be forgotten. If the free world – and particularly the United States, its leader can pass on to the next item on its agenda without any effort to deter the Soviet Union from selfishly involving itself so largely in a quarrel with which it has no concern, then it is not Israel alone that is imperilled, but no small nation, no minor nation, can any longer dwell in safety within its frontiers.
‘The aspiration to peace IS … the cornerstone of our pioneering life and labour.’
… Three years after the Six-Day War, we can affirm that two fundamental principles have become a permanent part of the international consciousness:
Israel’s right to stand fast on the ceasefire lines, not budging until the conclusion of peace that will fix secure and recognised boundaries; and its right to self-defence and to acquire the equipment essential to defence and deterrence. … The aspiration to peace is not only the central plank in our platform, it is the cornerstone of our pioneering life and labour. Ever since renewal of independence, we have based all our undertakings of settlement and creativity on the fundamental credo that we did not come to dispossess the Arabs of the land but to work together with them in peace and prosperity, for the good of all.
… We have not wearied of reiterating, day in, day out, our preparedness for peace: we have not abandoned hopes of finding a way into the hearts of our neighbours, though they yet dismiss our appeals with open animosity.
Today again, as the guns thunder, I address myself to our neighbours: Stop the killing, end the fire and bloodshed which bring tribulation and torment to all the peoples of the region! End rejection of the ceasefire, end bombardment and raids, end terror and sabotage!
To attain peace, I am ready to go at any hour to any place, to meet any authorised leader of any Arab state – to conduct negotiations with mutual respect, in parity and without pre-conditions, and with a clear recognition that the problems under controversy can be solved. For there is room to fulfil the national aspirations of all the Arab states and of Israel as well in the Middle East, and progress, development and cooperation can be hastened among all its nations, in place of barren bloodshed and war without end.

Business

Association Seeks Intervention to Save Domestic Airlines

Published

2 days ago

August 10, 2026

The Tide

The Vice Chairman of the Airline Operators of Nigeria (AON) and Chairman of Air Peace, Mr. Allen Onyema, has called on the Federal Government to urgently intervene in the nation’s aviation industry, warning that several domestic airlines may cease operations if the current challenges confronting the sector are not addressed.

Onyema gave the warning at the public presentation of the book, Pathways, Pilgrimage and Destiny: The Biography of Alhaji Muneer Bankole, held in Lagos and was obtained in Port Harcourt, at the weekend.

He described the aviation industry as being highly capital-intensive with relatively low financial returns, stressing that domestic airline operators are grappling with severe economic pressures that threaten their continued existence.

According to him, the industry has reached a critical stage and requires immediate government intervention to avert the collapse of many indigenous carriers.

Onyema warned that unless decisive measures are taken within the next 30 days, several Nigerian airlines could be forced to shut down their operations due to the harsh operating environment.

He also cautioned aviation labour unions against any planned picketing of airlines over the alleged non-remittance of the five per cent Ticket Sales Charge, saying such action could disrupt flight operations across the country.

The Air Peace Chairman maintained that if any airline was singled out for industrial action, other domestic operators would stand in solidarity, arguing that labour unions should not be used as instruments for resolving debt-related disputes between airlines and government agencies.

He lamented that more than 50 Nigerian airlines had folded over the years despite the success of many of their promoters in other sectors of the economy, attributing the trend to the difficult business environment in the aviation industry.

While reaffirming the commitment of airline operators to support government revenue generation, Onyema stressed that policies capable of crippling airline operations should be reviewed in the interest of the sector.

He noted that a thriving aviation industry remains critical to national economic growth, employment generation and improved connectivity across the country.

The AON Vice Chairman urged the Federal Government to engage relevant stakeholders and adopt sustainable measures that would strengthen the operational capacity and financial stability of indigenous airlines.

He expressed optimism that with timely policy support and constructive engagement between government and industry stakeholders, the nation’s aviation sector would overcome its current challenges and continue to contribute meaningfully to Nigeria’s socio-economic development.

King Onunwor

Business

CBN Reforms Impact Consumers As Dollar Card Spending Limits Rise

Published

2 days ago

August 10, 2026

The Tide

The Central Bank of Nigeria’s (CBN) foreign exchange reforms are beginning to deliver tangible benefits to consumers, as banks expand international spending limits on naira cards amid improved liquidity in the foreign exchange market.

The new limit represents a sharp increase from the $6,000 quarterly cap introduced in November 2025 and is 20-times higher than the $1,000 quarterly limit announced in July 2025.

The move comes as analysts point to a more liquid foreign exchange market following reforms introduced by the CBN over the past three years.

“This reflects the improved liquidity in the foreign exchange market. It also shows the focus of banks in maximising income from card payments,” said Ayokunle Olubunmi, head of Financial Institutions Ratings at Agusto & Co.

Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE), said the increase in card spending limits reflects the significant improvement in liquidity and confidence in Nigeria’s foreign exchange market.

“It’s an indication that the liquidity in the foreign exchange market has improved significantly and we can see that from the stability of the exchange rate. We can also see that reflected in our foreign reserves. All of these things reflect the level of confidence,” Yusuf said.

According to him, businesses and individuals are no longer under pressure to obtain foreign exchange for legitimate transactions, unlike in the past when access to dollars was constrained.

“It also means that citizens and those who use foreign exchange are no longer desperate about foreign exchange usage. Whether you want to use it through your card or access it for international trade, there is no anxiety, there is no pressure and there is no desperation.

All of these things have arisen because the level of confidence in the foreign exchange market and the outlook for the market have been very reassuring,” he said.

Yusuf added that the adjustment of international spending limits by banks demonstrates growing confidence in the sustainability of the foreign exchange market reforms.

“That is why we are seeing all these positive developments around the use of the naira card abroad and the limits that are now being adjusted by banks. It is a very good development and I hope we can sustain it. I am confident we will.”

The increase follows a series of policy changes by the apex bank aimed at deepening the foreign exchange market and improving access to foreign currency for legitimate transactions.

Under the CBN’s Foreign Exchange Manual, Fourth Edition, the maximum tuition fee remittance for Nigerian students pursuing undergraduate and postgraduate studies abroad was raised to $25,000 per semester, from the previous $15,000.

“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.

The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.

Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.

According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.

The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.

Business

WEC: FG Inaugurates Governing Board … As Nigeria Rejoins Council

Published

2 days ago

August 10, 2026

The Tide

Nigeria has rejoined the World Energy Council (WEC) with the inauguration of a National Member Committee and Governing Board to strengthen the country’s participation in global energy policy and investment discussions.

The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.

The Governing Board is chaired by the Chairman of Waltersmith Petroman Oil Ltd., Abdulrazaq Isa, while a former Chief Upstream Investment Officer of NNPC Ltd., Bala Wunti, will serve as the inaugural Chief Executive Officer.

Other members of the board are Prof. Wumi Iledare, Dr Mustapha Abdullahi, Mrs Aisha Farida Katagum, Dr Ainojie Irune, Dr Emmanuel Okon, Dr Victor Ekpenyong and Dr Imamuddeen Talba.

The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, who disclosed this in a statement, last Thursday, said the board comprises of experts in energy policy, regulation, investment, operations, research, technology and enterprise development.

Welcoming Nigeria into the council, Wilkinson said the country’s membership would strengthen its contribution to global energy discourse.

Wilkinson noted that “Nigeria has a significant leadership role to play within the global energy community.

“Nigeria has a significant leadership role, and the Member Committee will help bring that expertise and voice onto the world stage at the Riyadh World Energy Congress in April 2027 and beyond.

“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.

“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.

“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.

Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.

The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.

He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.

The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.

“This system will be capable of driving economic growth and shared prosperity.”

According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.

Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.

Nigeria has been a member of the council with the Nigerian National Committee originally approved and established on April 6, 1960 before its re-establishment and expansion this year.

The renewed membership would provide an independent, technology-neutral platform bringing together government, industry, academia, finance and civil society to address Nigeria’s energy security, energy equity and environmental sustainability.