Business

Concession: PH FAAN Workers Plan Revoke Against Mgts.

Published

5 days ago

May 6, 2026

The National Union of Air Transport Employees (NUATE) and Air Transport Service Senior Staff Association of Nigeria (ATSSSAN) have stated it’s readiness to Revoke Against the Federal Airport Authority of Nigeria, FAAN, Port Harcourt International Airport, Omagwa, over the planned concession of toll gates and parks to private companies, if not properly coordinated.

In a chat with The Tide yesterday, Comrade Felix Ohwoefe who is the chairman of NUATE said the two Unions had agreed to take drastic actions if the decision of the authorities of the Airport concession of the major revenue points to private companies is not well coordinated.

According to the chairman, the two unions were not aware of the concession plans, and also added that due process must be followed.

Comrade Ohwoefe said any attempt for the Airport Management to decide on the concession without involving the Union would result in barricading of all entrance and access points of the Airport.

Expressing the challenges associated with the concession, Comrade Ohwoefe said the concession might result in a massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions given to the concessionaires, and wondered why FAAN should contract the automated points to private individuals for only 14 millions naira, when it was generating over 28 million naira monthly.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires are taking over, they must pay higher than what the FAAN is generating presently. We are generating to the Management over 28 millions naira monthly, but we heard that the private company is required to pay only 14 millions naira monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individuals in the government, or government itself.

“The unions are saying no to the concession until we come to the terms of understanding ourselves. We are afraid of losing workers, we don’t want to lose any workers if due process is not followed in this hard economy. We are even demanding employment of more workers in FAAN,” Comrade Ohwoefe said.

The chairman also used the opportunity to call on the Minister of Aviation, and the President to intervene.

However, the union affirmed the cordial relationship between the workers and the Management, saying that there is an existing and peaceful relationship with the management for now.

When contacted on this issue, the Head of Corporate Affairs, FAAN, Dr. Ngozi V. Onyeanwuna-Nwosu, said the Management had not given her the approval to speak.

Enoch Epelle

Business

Withdrawal, Deposit Fees Changes From May 1, 2026 Still Stands – CBN … Declares 5 Banking Services Free

Published

5 days ago

May 6, 2026

The Tide

The Central Bank of Nigeria (CBN) has said that the announced changes in fees attached to several everyday banking services, scheduled to take effect on May 1, 2026 has commenced.

The changes are contained in the apex bank’s revised Guide to Charges by Banks and Other Financial Institutions, which outlines consumer-focused reforms designed to improve transparency and reduce the burden of banking fees nationwide.

According to the document, which was signed by Dr. Rita Sike, the CBN’s Director of the Financial Policy and Regulation Department, the new changes affect account reactivation, ATM withdrawals on own bank networks, and virtual card issuance.

Following the changes made by CBN, the five key banking services affected by the CBN’s update are in account reactivation and closure, under which banks are no longer allowed to charge customers for reactivating dormant accounts, while account closure also remains free.

The second change is that banks will now be required to provide monthly statement of account to their customers at no cost, and also ensure better access to financial information.

However, requests for printed statements outside the agreed standard format attract a maximum fee of N20 per page.

Thirdly, the CBN has introduced small inter-bank electronic transfers to promote digital payments and micro-transactions.

The implication is that, henceforth, transfers from N0 to N5,000 are free, transfers between N5,000 and N50,000 will attract a maximum fee of N10, while transfers above N50,000 are capped at N50.

The fourth change in the CBN update is in the use of own bank’s ATM (On-Us Transactions).

Here, withdrawals made from your bank’s ATM (on-us transactions) are free. Non-cash transactions, such as intra-bank transfers carried out at these ATMs, also attract no charges.

The fifth change is in virtual cards and PIN management in which banks are now required to issue virtual cards at no cost. In addition, PIN-related services, including PIN re-issuance and resets, are free for all customers.

The document further said the new charges guide, which aims to boost financial inclusion and reduce banking costs, updates the 2020 version to better align with current market realities, particularly the growing reliance on digital payments and mobile banking.

Business

Binani Air Commences Flight Operations May 10 in Nigeria

Published

5 days ago

May 6, 2026

The Tide

Binani Air has announced the commencement of sales tickets on Monday, describing the development as a milestone that will improve the aviation sector and create jobs for the people in Nigeria, as head of its scheduled inaugural flight operations starts May 10, 2026,

In a statement issued by the head of corporate communications of the new airline, the move marks a significant milestone in the aviation sector.

She said this announces the transition from vision to operation as the airline moves closer to welcoming its first passengers on board.

Quoting the Chief Executive Officer of Binani Air, Aminatu Dahiru Chiroma, the Corporate communications officer said,”the commencement of ticket sales represents more than just access to flights. It reflects the airline’s readiness to deliver a new standard of air travel in Nigeria.

“Opening our ticket sales is a defining moment for us. It is the point at which our commitment becomes real for the travelling public. From this moment, we are not just preparing to fly—we are preparing to serve.

“Built on the principles of reliability, safety, and respect for passengers’ time, Binani Air enters the market with a clear focus on consistency and operational discipline.

“The airline is committed to delivering a travel experience that is both seamless and reassuring, particularly in a sector where trust remains critical.

“Passengers can expect a streamlined booking process, responsive customer engagement, and a service culture designed to prioritize comfort and professionalism from the very first interaction”.

Chiroma said as anticipation builds towards the inaugural flight, Binani Air invites travellers, corporate partners, and stakeholders to be part of this defining journey, one that seeks to reshape expectations and restore confidence in Nigerian aviation.

She said “bookings are available via the airline’s official website (www.binaniair.com) and authorised travel partners from 12 noon of 4th of May 2026.”

Business

DANGOTE Debunks Claims Of Rift With Tony

Published

5 days ago

May 6, 2026

The Tide

The Dangote Group has dismissed as false and malicious publication alleging that its President, Aliko Dangote, distanced himself from fellow businessman Tony Elumelu.

In a statement issued by the company, the Group said it never made such claims and described the report as baseless and a deliberate misrepresentation of facts.

The statement was signed by the Group Chief Branding and Communications Officer of Dangote Industries Limited Anthony Chiejina.

The company also refuted assertions that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends.

It maintained that such claims are entirely inaccurate, stressing that Dangote does not fund projects through informal personal lending arrangements.

Addressing speculation about a fallout between Dangote and Elumelu, the Group clarified that both men maintain a longstanding and cordial relationship.

The statement further expressed concern over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s name, image, and likeness in AI-generated advertisements and misleading content, warning that such actions could amount to fraud and reputational damage.

The company warned individuals and platforms involved in spreading false information to desist immediately, noting that it would take appropriate legal action where necessary.

The Dangote Group reiterated its commitment to maintaining high standards of integrity while continuing to promote industrialisation, economic self-sufficiency, and sustainable development across Africa.

Nkpemenyie Mcdominic, Lagos