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Fertiliser Firm Linked To Jailed Ex-Governor

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Jailed former Delta State
governor, James Ibori used front men and shell companies to acquire a hidden stake in privatised Nigerian fertiliser company, Notore, a British police detective told a London court last Wednesday.
Detective Constable Peter Clark also said Ibori had bought two apartments in Washington in 2001 worth a total of $4.43 million, previously unknown assets to add to a list of six other Ibori properties in four countries worth $11 million.
The court was shown footage of one of the properties, a palatial residence in the Nigerian capital Abuja complete with marble columns, crystal chandeliers and a private gym.
Ibori, who governed oil-producing Delta State from 1999 to 2007, was jailed for 13 years in Britain, last year after pleading guilty to 10 counts of money-laundering and fraud in one of the biggest embezzlement cases seen in Britain.
He is the most senior politician to be held accountable for the corruption that blights Africa’s most populous nation, where majority have little or no power or running water.
A three-week confiscation hearing began at London’s Southwark Crown Court on Monday during which prosecutors will present evidence of Ibori’s assets and seek court orders to have them seized.
Clark, who has investigated Ibori’s finances since 2005, said the ex-governor was linked to Notore via a shell company incorporated in Mauritius and a circle of associates.
“It is my belief that James Ibori has some sort of hidden interest in the company Notore,” Clark said.
A spokesman for Notore, who was present in court on Wednesday, denied that Ibori had hidden assets in the firm.
“He does not own shares in the company and no other shareholder or shareholders hold shares for him in trust so far as the company is aware,” the spokesman told Reuters, asking not to be named.
Shares in Oando, Nigeria’s biggest home-grown energy firm, have fallen by 10 per cent for two days in a row after alleged links with Ibori, denied by Oando.
Notore, which is not listed, grew out of the state-owned fertiliser company NAFCON which went bust in 1999. As part of a privatisation programme, Notore took over NAFCON’s assets for $152 million in 2005, according to its website.
Clark told the court that police had seized five files labelled NAFCON that linked Ibori to Notore at the office of London lawyer Bhadresh Gohil, who is serving a 10-year jail term for his role in laundering Ibori’s millions.
Gohil had incorporated a company in Mauritius under the name Notore Chemical Industries Mauritius Ltd, which Clark said appeared to be a shell company that would own part of Notore, Clark said.
Gohil had written in 2005 to Jite Okoloko, now chief executive of Notore, asking him to “confirm your instructions” regarding NAFCON and giving bank coordinates for transfers.
Gohil also wrote a memo about a visit he made to Lagos in 2005 during which he took part in a meeting with Ibori, Okoloko and Henry Imasekha, who is named as a co-conspirator in one of the two British indictments against Ibori, Clark said.
Gohil’s memo said the men discussed how equity in Notore would be split between various shareholders. They put the value of the company once it would be up and running at $1.2 billion.
A separate diagram drawn up by Gohil was described by prosecutor Sasha Wass as a “route map for the ownership of Notore”. It suggested that more than half of the firm, a stake valued at $39.7 million, would go to Ibori, Okoloko and Imasekha.
Clark testified that a 3 per cent stake was allocated to Mike Orugbo, now a member of the Notore board.
“He was a front man used to purchase NAFCON from the Nigerian government. He obtained 3 per cent to do so,” Clark said.
Ibori, who is at a maximum security prison in central England, has not attended the court hearings.

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NSIB, AAAU Sign MoU On Air Safety Training

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As part of efforts to curb mishaps in the aviation industry, the Nigerian Safety Investigation Bureau (NSIB) has signed a Memorandum of Understanding (MoU) with the African Aviation and Aerospace University (AAAU) to deepen training on preventing and reducing accidents in Nigeria’s air transport.
Director, Public Affairs and Consumer Protection of NBIS, Mrs Bimbo Olawumi Oladeji, in a statement, said NSIB granted AAAU access to its facilities to facilitate an efficient exchange of resources and expertise.
According to the statement, the Director-General/Chief Executive Officer of NSIB, Captain Alex Badeh, who spoke at the ceremony held at the NSIB Training School, noted that the MoU sets the stage for facility sharing, capacity building, and collaboration between the Bureau and AAAU.
“I am confident that this MoU will enhance the effectiveness of our collaboration and commitment to promoting safer skies and operational excellence in the aviation industry in Nigeria and beyond”, Badeh said.
Registrar of AAAU, represented by the Director of Physical Planning and Works, Engineer Masud Aliyu Yerima, was also quoted in the statement, saying, “The journey of AAAU’s establishment and progress would have faced considerable challenges without NSIB’s generous support”.
He commended Badeh for his exemplary leadership and steadfast dedication in propelling NSIB to greater heights, and affirmed AAAU’s readiness to engage in mutually beneficial endeavours with NSIB.
“This partnership marks a significant milestone in fostering a culture of safety and excellence within Nigeria’s aviation sector, and both NSIB and AAAU are poised to leverage this synergy for the benefit of the industry and the nation at large.
“The African Aviation and Aerospace University, AAAU, is the first Pan-African university dedicated to aviation, aerospace, and environmental science.
“Addressing two critical needs within the continent’s industry, AAAU tackles the research and development gap in Africa’s aviation and aerospace sector while simultaneously cultivating a skilled workforce to propel it forward”, the statement added.

By: Corlins Walter

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Naira Rebound, Air Peace’s Expansion Deepens International Route Competition 

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he commencement of flights operations on the London route by an indegenous Carrier, Air Peace Airline, and the recovery of the local currency have sparked fresh competition on international routes.
Air Peace, Nigeria’s outstanding indigenous airline, may face a prolonged market battle with many foreign airlines with decades of experience in the industry following its entrance on the Nigeria-London route.
Some of the industry’s experts say the airline required support from the government and a strategic approach to stay competitive.
Analysts have also stated that the strategic move has garnered high praise from stakeholders in the aviation sector, considering that Nigerians were paying exorbitant prices to travel from Nigeria to London, but that sustaining this momentum will require more than just offering low prices.
On March 31, 2024, the 11-year-old airline made a bold statement with its inaugural flight, using a Boeing 777 aircraft, offering a capacity of 274 seats and carrying 260 passengers from Lagos to London.
It sold its tickets for N1.2m, a price way lower than the rates offered by most foreign airline operators plying the same route.
Just two weeks after entering the market, Air Peace’s Chief Executive Officer, Allen Onyema, complained on Arise TV that foreign airlines were undercutting prices in an attempt to push Air Peace out of the market.
Onyema said, “We are aware that there are devilish conspiracies. All of a sudden, airlines are pricing below the cost. One airline is advertising $100  and the other $350. If you peel up your entire aircraft and carry people on the wings, it is not even enough to buy fuel.
“Why are they doing that? Their government is supporting them because Nigeria has been a cash cow for everybody. The idea is to take Air Peace out, and the moment they succeed in taking Air Peace out, Nigerians will pay 20 times over. It would happen, God forbid, if they were able to take Air Peace out”.
It was gathered that an economy ticket for a flight scheduled for April 29, 2024, from Lagos to London costs about N679,375 on Ethiopian Airlines, an operator with 75 years of experience.
Air Peace priced the same ticket at N1,090,750. The difference is that on Air Peace, it will be a 6-hour non-stop flight, while on Ethiopian Airlines, it will take 16 hours with one stopover.
Last Friday, Ethiopian Airlines reduced the price of its London ticket by 0.77 per cent to N1,628,660 from  N1,641,249 two weeks ago.
In the same period, Air France’s price dropped to N1,687,824, nearly halving from last month’s N2,482,138.
On March 4, 2024, Lufthansa offered the Lagos-London route for N1,966,165. Qatar Airways provided the same ticket for N2,016,824, and KLM priced it at N2,448,740.
This continuous decline in air ticket prices was also driven by the strengthening of the naira against the US dollar and the payments of airlines’ trapped funds by the Central Bank of Nigeria.
Minister of Aviation and Aerospace Development, Festus Keyamo, had confirmed that the Federal Government, through the CBN, had cleared all the trapped funds (foreign exchange backlogs) to the tune of about $160m.
Beyond the ongoing price war, the Air Peace Chairman had also lamented the challenges with ground handling and space allocation at the London Gatwick Airport, adding that no airline has faced such obstacles before.
He noted, “On the inaugural flight out of London, 24 hours before departure, the management of Gatwick Airport moved us to another checking area instead of the designated one.
“The area they provided had a malfunctioning carousel, forcing us to manually transport luggage 50 meters away, causing delays”.

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PH Airport Users Lament Down Turn In Flight Operations 

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Users and business operators at the Port Harcourt International Airport, Omagwa, have decried the downward trend in flight operations at the airport.
Some of the users and operators told The Tide that flight operations at the airport, rather than go upward, have steadily been irregular, and diminishing steadily.
A regular air passenger of the airport, Simeon Echeonwu, in a chat with The Tide, said many airlines, both domestic and international operators, that usually operate at the Port Harcourt airport, have stopped operations, whereas others that are still operating are no longer very stable as before.
Echeonwu noted that airlines such as Aero Contractors, United Nigeria, and Green Africa airlines, now operate about one flight, twice a week, unlike before that they flew every day on Lagos and Abuja to Port Harcourt.
Also speaking, former Chairman of the FAAN Accredited Car Hires Association, Clifford Wahunoro, lamented that the down turn in Operations has affected the business of car hires.
“If you have noticed, I have not been regular at the airport for some time now, because business is no longer flowing at the airport as before. I will not fold my hands and be sitting down doing nothing, so I have to look for other things, so I come when I think there will be something.
“You can see that between 12noon and 1pm, after that segment of flights, when you have few flights arrival, many people will close for the day, and when you wait till evening, flight like Dana may come very late at night, and sometimes, it will not arrive, and by that time, many people will not like to book for commercial vehicle”, he said.
Meanwhile, a travel agent, who wished to be anoyimous, decried the rate at which the airport is going down in terms of flights operations, noting that Port Harcourt airport ought to be competing with the other major airports like Lagos and Abuja.
He queried if such was a calculated attempt to bring the airport to its kneel in terms of flight operations, while other major airports have steady flow of flight operations both for domestic and international.
TheTide observed a continuous distortions in flight movement at the airport. Some of the airlines, like Max air, which many passengers patronize, have completely stopped operations, and no new airline has been added.
Apart from the Air Peace Airline that has maintained some level of stability in operations, other few operators have been involved in either steady rescheduling of flights, cancellation and regular delay, resulting in poor and unpredictable flight movement, which affects or determine other businesses in the airport.

By: Corlins Walter

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