Business
Aviation Industry: IATA Harps On Security Of Passengers
The International Air Transport Association (IATA) has reiterated that the security of passengers and employers is a top priority for the aviation industry.
As a result, IATA has urged the United States Department of Homeland Security (DHS) and its Transportation Security Administration (TSA) to partner with the industry to identify the most effective and efficient ways to address the evolving security challenge in light of the foiled terrorist plot to down a Detroit – bound aircraft.
In a letter to the Homeland Security Secretary Napolrtano in Geneva recently, the Director General and Chief Executive Officer, Giovanni Besignam has expressed his appreciation to the swift reaction of DHS to maintain the confidence of the flying public and airline employees.
He maintained the need for short-term temporary and extra-ordinary security measures until the immediate threat has abated.
But he cautioned Secretary Napolatano that long-term solutions must include improved technology and effective risk assessment techniques.
According to Borynani, the air transport system cannot support 100 per cent pat-down searches over the long-term.
He noted that each year airlines and their passengers invest $ 5.9 billion in security measures.
He said that IATA is recommending a smaller percentage of intensive pat downs accompanied by technology or proportionate screening procedure as a means to achieve near-term security requirement with reduced delays.
While explaining that security is a government responsibility, and shared priority with the industry, Bisignani, however, urged DHS to allow the current short-term measure to be urgently followed-up by a comprehensive Dots/Industry review of security system to address existing and evolving security threats.
The IATA boss said that the failed Detroit terror plot has emphasised two key realities, such as the global nature of the threat and the need for effective cooperation and information sharing among and within intelligence organisations.
His words, “Effective security needs a system that is built on global harmonisation, effective information exchange, industry/government cooperation, risk assessment and efficient technology.
This is how we made flying the safest way to travel. We must take the same approach with security”.
IATA revealed that in the 12 months to September 2009, air transport connected 2.2 billion passenger safely and securely.
This includes 820 million international travellers of which 140 million were international travellers on US routes.
Another component is the US domestic market which accounts for 620 million travellers.
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
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