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“NAAPE Supports Establishment of National Carrier Amid Dispute, Emphasizes Need for Proper Procedure.”

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Despite facing opposition from certain groups against the establishment of a new national airline for Nigeria, the National Association of Aircraft Pilots and Engineers (NAAPE) has expressed its support for the government’s initiative.

The association has also urged the Nigeria Civil Aviation Authority to refrain from issuing Aircraft Maintenance Engineering (AME) licenses to individuals lacking proper training and qualifications, a practice that has resulted in an increase of unskilled personnel in the field.

These statements were part of a communiqué issued in Port Harcourt at the conclusion of a one-day symposium organized by NAAPE.

The event centered around the theme “Effective Economic Regulation of the Aviation Industry as an Imperative For Safety and Workers Welfare.”

In the communiqué, NAAPE’s President, Engr. Abednego Galadima, emphasized that Nigeria, given its population and continental standing, deserves a national carrier capable of facilitating international travel for its citizens and others.

However, NAAPE also underscored the necessity for the government to adhere to proper procedures while establishing the new national carrier.

It is worth noting that opinions within the industry diverge regarding the creation of a new national carrier.

The Airline Operators of Nigeria (AON) particularly opposed the idea of Nigeria Air, expressing concerns that it could lead to an unfair competitive landscape for existing operators.

AON even took legal action against the Federal Government, alleging a lack of transparency in the process.

Despite these disagreements, all major industry unions, including NAAPE, voiced their support for the national carrier project.

They argued that it would generate employment opportunities for technical professionals.

NAAPE stressed the importance of proceeding with the establishment process while adhering to due processes.

Furthermore, NAAPE highlighted an issue regarding the proliferation of Aircraft Maintenance Engineering (AMOO) licenses issued by the NCAA to unqualified candidates.

This practice was observed to disadvantage trained and qualified personnel, as operators took advantage of this discrepancy.

NAAPE called on the NCAA to review its licensing methodology to prevent potential repercussions.

The communiqué also addressed safety concerns within the industry.

NAAPE expressed worry about the potential abandonment of the non-litigating reporting safety system by the NCAA, a system aimed at enhancing aviation safety standards.

Recent incidents and accidents among airline operators raised suspicions that the discontinuation of this system might have contributed to the safety issues.

In addition, NAAPE urged organizations and aviation agencies within the industry to provide relief measures to its members affected by the removal of fuel subsidies.

The association decried the adverse impact of this policy on its members’ ability to fulfill their daily obligations.

Lastly, NAAPE called on President Bola Tinubu to reconsider the mandatory contribution of 40% of aviation agencies’ revenues to the consolidated revenue fund.

The association argued that this policy hinders the agencies’ ability to fulfill their essential responsibilities, thereby compromising the safety of the flying public.

“Volatility characterizes the week’s closure as the exchange rate settles at N955/$1, with the disparity surpassing N200/$1.”

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The week concluded with a turbulent performance in the exchange rate between the Nigerian naira and the U.S. dollar, reaching a peak of N955/$1 on the informal market.

This data is gathered from significant forex traders in Lagos and Abuja.

At the outset of the week, the exchange rate began at N895/$1 but subsequently dropped to N900/$1 on August 9th, marking a historic low. With a continuous demand-supply mismatch, the exchange rate has experienced an 8% depreciation this month.

In addition to the dollar, the exchange rates for the Euro and the UK Pound also weakened:

– Dollar: N955/$1
– Pound: N1,180/£1
– Euro: N1,025/EUR1

Although the parallel market rates have been declining, the official rates concluded the week at a higher point of N740.6/$1, compared to N743/$1 on August 4th.

This widening gap of N210/$1 between the official and parallel market rates suggests a significant disparity.

The intraday fluctuations ranged from N799.9/$1 to N738/$1, further emphasizing the contrast with the black market rates.

Addressing the situation, the Central Bank of Nigeria (CBN) attributed the naira’s decline against the dollar and its struggle in managing the foreign exchange market to the diversion of diaspora remittances to unofficial platforms, such as the parallel market.

This insight was shared by Folashodun Shonubi, the acting Governor of CBN, during a lecture titled “Diaspora Remittances and Nigeria Economic Development” at the National Institute for Security Studies, Abuja. Shonubi elucidated that many diaspora remittances arrive in Nigeria as dollars and remain undocumented, ultimately entering the parallel market.

“CBN’s decision to withhold publication of its seven-year financial records faces strong criticism from experts.”

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The Central Bank of Nigeria recently unveiled its Consolidated Financial Statements for the past seven years, marking a significant shift as it’s the first time since 2015 that the apex bank has made its financial records accessible to the public.

The released Consolidated Financial Statements encompass the fiscal periods from 2016 to 2022, which has raised concerns among analysts, prompting calls for further investigation due to the perceived suspicious nature of the timeframe.

Analysts have pointed out that the failure of the Central Bank to disclose these reports could lead to misconceptions among investors and those seeking insights into the economic landscape.

To address these concerns, President Bola Tinubu has appointed Jim Obazee as a Special Investigator to delve into the operations of the Central Bank and related entities.

Tinubu’s appointment letter, dated July 28, states that Obazee’s role is rooted in Section 15(5) of the Nigerian constitution, aligned with the administration’s ongoing efforts against corruption.

Obazee’s appointment is immediate, with direct reporting to the President.

Further details regarding his scope and responsibilities will be communicated in due course.

President Tinubu has instructed Obazee to collaborate with a proficient team and work alongside relevant security and anti-corruption agencies to carry out the investigation thoroughly.

Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, highlighted historical breaches of corporate governance principles and the CBN Act, emphasizing the need for deeper examination of those involved in the apex bank’s governance.

Professor Akpan Ekpo, an Economics and Public Policy expert, speculated that the ongoing investigation may have prompted the CBN to release its financial statements to the public.

He also stressed the importance of conducting the investigation discreetly to prevent potential negative impacts on investor sentiment.

The Consolidated Financial Statements for 2022, based on IFRS Standards, CBN Act, and Financial Reporting Council guidelines, reported a group profit after tax of N103.8bn, a notable increase from the previous year.

Furthermore, the CBN’s liabilities included a combined sum of $7.5bn owed to JP Morgan and Goldman Sachs, along with an additional $6.3bn in foreign currency forwards.

These obligations were part of the CBN’s total external reserves.

The CBN’s financial statement revealed expenses of N155.5bn for the RT200 and Naira4Dollar schemes in 2022, aimed at boosting foreign exchange inflows.

These expenses were categorized as ‘rebate expenses’ linked to the initiatives.

The release of the financial statements on the CBN website signifies a newfound commitment to transparency under the leadership of acting Governor Folashodun Shonubi, in contrast to the suspension of former Governor Godwin Emefiele for failing to disclose financial reports, which was inconsistent with the CBN Act.

 

“Chibok girl kidnapped almost a decade ago finally reunites after nine years.”

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At the Presidential Villa in Abuja, Nigeria, on Friday, Oluremi Tinubu, the First Lady of the Federal Republic, warmly welcomed Rebecca Kabu, one of the 277 Chibok schoolgirls who had been abducted by Boko Haram in 2014.

Accompanied by Hajia Nana Shettima, the wife of the Vice President, the First Lady assured Rebecca of her comprehensive medical care and expressed her determination to facilitate her smooth return to school.

Mrs. Tinubu, while vowing not to forget the other girls still in captivity, extended her gratitude to the National Security Adviser, National Intelligence Agency, and other security entities for their instrumental role in Rebecca’s rescue.

She offered words of encouragement, stating, “In the face of adversity, it’s important to address cases of amnesia; your presence here is a testament to God’s plans for you.

 

I am deeply thankful to the NSA and NIA for their unyielding efforts, as well as to all those contributing to Rebecca’s rehabilitation.”

The First Lady declared Rebecca to be a remarkable story of triumph, destined to be the first among many returnees.

Highlighting her commitment to education, Mrs. Tinubu spoke about her NGO, the Renewed Hope Initiative, working tirelessly to reintegrate mature girls who had been compelled to leave school, ensuring they have access to quality education.

Rebecca, she promised, would be among the first recipients of her benevolent initiatives.

Tinubu emphasized the significance of educating the younger generation, as it equips them to contribute to society and uphold the positive legacies of their predecessors.

 

She discussed the idea of alternative high schools, where individuals like Rebecca could learn at their own pace, underlining the importance of education as a tool for personal growth and preparing for the responsibilities that lie ahead.

Rebecca, softly responding, conveyed her struggles with understanding English language.

In a reassuring tone, the First Lady comforted her, expressing confidence that she would overcome this challenge with time.

Rear Admiral Yaminu Musa, Coordinator of the Counter Terrorism Centre at the NSA, provided further insight.

He revealed that Rebecca, who was abducted at the age of 13 and was now 22, had been successfully rescued by government security agencies on July 17.

He confirmed her sound mental and physical health, paving the way for a heartwarming reunion with her parents in Zana village, Borno state.

He also disclosed plans for the NSA office to advocate for her and 15 other rehabilitated girls, ensuring they receive educational support from the Federal Government.

“Economic Recovery Vital for the Well-being of Nigerians, Emphasizes Tinubu”

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President Bola Tinubu, during a meeting with the Board of Trustees of the All Progressives Congress Professionals Forum, led by former Bauchi State Governor Isa Yuguda, reiterated his unwavering commitment to invigorate the economy for the utmost benefit of all Nigerians.

He emphasized that his administration is dedicated to effecting positive change and ensuring the economy’s recovery to uplift the majority of Nigerians.

President Tinubu further outlined a strategic approach, intending to foster measured growth and bolster public awareness about policy outcomes.

He highlighted the administration’s dedication to thorough documentation and periodic assessments of efforts across various sectors to ensure transparency and efficacy, underlining the administration’s proactive steps toward reform.

The President expressed gratitude for the support of the APC professionals and underscored the progress made so far.

In response, Isa Yuguda praised President Tinubu’s interventions in the economy and shared the remarkable growth in the professional sector, which has witnessed the registration of over two million professionals since 2018.

He conveyed optimism that the administration’s successful interventions would contribute to improved security and attract foreign investors to the country’s stable economic environment.

Gbogunmi, An Exceptional Character in Femi Adebayo’s Jagunjagun Movie

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Another Exceptional Character I Love in Jagunjagun: Gbogunmi, portrayed by the remarkable Itẹle Di Icon

 

Jagunjagun the movie as been trending with several amazing reviews. While I watch again, there are numerous characters that captivate the audience with their outstanding performances. One character that stands out amongst the rest is Gbogunmi, portrayed by the talented Bakare Yekini (Itẹle Di Icon). With his exceptional brilliance and impeccable acting skills, Itẹle Di Icon brings Gbogunmi to life in a truly remarkable way.

From the moment Gbogunmi graces the screen, it’s impossible to ignore his captivating presence. Itẹle Di Icon effortlessly embodies the essence of the character, making Gbogunmi a memorable and integral part of the show. His portrayal leaves a lasting impression on the viewers, making them eagerly anticipate his every appearance.

Itẹle Di Icon’s portrayal of Gbogunmi showcases his remarkable acting skills. He seamlessly transitions between different emotions, bringing depth and authenticity to the character. Whether it’s displaying Gbogunmi’s vulnerability, strength, or humor, Itẹle Di Icon’s performance like a true gladiator is consistently outstanding.

It is evident that Itẹle Di Icon has invested time and effort into understanding Gbogunmi’s character which is synonymous to being a gladiator. His attention to detail is commendable, as he flawlessly captures Gbogunmi’s mannerisms, speech patterns, and unique traits. It is through Itẹle Di Icon’s skillful execution that Gbogunmi becomes a beloved character, resonating with the audience on a deeper level.

Meet Jagunjagun Director, Tope Adebayo: A Trailblazer in Nollywood’s Entertainment Industry

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Meet Tope Adebayo: A Trailblazer in Nollywood’s Entertainment Industry

Tope Adebayo, born on June 28th, 1979, hails from Kwara State, Nigeria. He is the son of the renowned entertainment guru, Adebayo Salami. With his innovative and dedicated work ethic, Tope has become one of Nollywood’s most respected directors.

 

Education and Early Life:

Tope Adebayo pursued his higher education at the prestigious University of Ilorin, where he graduated with a degree in Computer Science. Additionally, he studied Electrical and Electronics at the Technical College in Ilorin. These diverse educational backgrounds have undoubtedly contributed to his versatility and creativity in the entertainment industry.

 

Career Highlights:

Tope Adebayo has made significant contributions to both the small and big screens. He has appeared in various movies and television series, showcasing his acting prowess. Some of his notable appearances include “Super Story,” “Dormitory 8,” and “Jenifa’s Diary.”

However, Tope’s true passion lies in directing. He has directed several TV series such as “Abelejayan,” “Dear Diary,” “Alagbara,” “Ile Alayo,” and many more. His directorial skills also extend to the big screen, with movies like “Ijapa,” “Ayitale,” “Onome Aganga,” “Monkey Men,” “Jelili,” and “Return of Jelili.” Other notable movies he produced include “Diamond in the Sky,” “Inside Life,” “Esin,” and “Agesinkole (King of Thieves)” and now “Jagunjagun”.

 

Campaigns and Commercials:

Tope Adebayo’s talent extends beyond directing movies and TV series. He has also been involved in creating impactful campaign and enlightenment TV commercials for various organizations. Some of his notable works include commercials for the Kwara State Government, Kwara State Internal Revenue Service, Lagos State Government, Federal Inland Revenue Service, and All Progressives Congress.

 

Entrepreneurial Ventures:

Tope Adebayo’s entrepreneurial spirit led him to establish High Profile Movie Network Limited, Tope Adebayo Studios, and Great Minds Media Network. These ventures showcase his dedication to the growth and development of the entertainment industry. Additionally, Tope Adebayo TV on YouTube has provided a platform for showcasing his creative works to a wider audience.

Personal Life:

Beyond his professional achievements, Tope Adebayo finds happiness in his personal life. He is happily married and blessed with a lovely daughter.

 

Conclusion:

Tope Adebayo’s journey in the entertainment industry has been marked by dedication, creativity, and versatility. From his educational background to his notable works as an actor, director, and producer, he has left an indelible mark on Nollywood. Through his various ventures, Tope continues to contribute to the growth and development of the industry. As he continues to inspire and entertain audiences, his legacy as a trailblazer in Nollywood remains firmly established.

Toyota introduces a new line of motor oil.

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Toyota Nigeria Limited has introduced a new lubricant named ‘Toyota Genuine Motor Oil’ to the Nigerian market.

The Managing Director, Mr. Kunle Ade-Ojo, highlighted that this engine oil, produced by Idemitsu of Japan, is the designated choice for every new Toyota vehicle.

While specifically tailored for Toyota cars, Ade-Ojo noted that other vehicles could also benefit from its optimal engine performance.

Ade-Ojo praised the Toyota Genuine Motor Oil (TGMO) as an exceptional product embodying Toyota’s unwavering dedication to innovation, reliability, quality, and sustainability.

He explained that the advanced formula offers an ultra-thin protective layer, effectively safeguarding against engine wear, minimizing friction, and enhancing fuel efficiency.

The result is a smoother and more enjoyable driving experience, with the added benefit of extending the engine’s lifespan by maintaining cleanliness and peak performance.

The TGMO will be conveniently accessible to Toyota customers and interested motorists through the brand’s seven authorized dealers.

Handa Toyokazu, General Manager of the Lubricant Division at Idemitsu Company of Japan, emphasized the strong partnership between Idemitsu and Toyota Motor Corporation.

Their shared vision is to create engine oil that provides users with peace of mind through cutting-edge lubrication technology.

INTERPOL has taken action by blocking 208 accounts from West Africa due to cyberfraud.

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Interpol has taken decisive action against West African organized crime, revealing a significant crackdown under the code name Operation Jackal.

In this operation, a collaborative effort involving police forces, financial crime units, and cybercrime agencies from 21 countries was mobilized between May 15 and May 29.

The result of this coordinated strike was the blocking of over 200 bank accounts linked to the proceeds of online financial crime, amounting to €2.15 million seized or frozen.

Notably, 103 individuals connected to these criminal activities were apprehended, while an impressive 1,110 suspects were identified.

The Director of Interpol’s Financial Crime and Anti-Corruption Centre, Isaac Oginni, emphasized the organization’s commitment to eradicating organized crime’s financial foundation, and praised the successful international cooperation that led to this operation’s success.

This remarkable achievement serves as a model for future collaborative efforts in combatting financial crime.

“Jiji-Car45 and GAC Unveil Innovative Car Loan Program”

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Jiji-Cars45 and GAC Motor Nigeria have joined forces to offer affordable car loans to Nigerian citizens.

At the recent GAC Motor Nigeria and Cars45 test drive event in Lagos, Majolie Obaje, the PR and Marketing Head of Jiji Nigeria, highlighted the impact of rising inflation and high foreign exchange rates on imported vehicle prices.

These factors have led dealers to halt car importation, resulting in showrooms filled with unsold inventory due to reduced consumer demand.

Obaje expressed the vision of enabling Nigerians to own brand-new cars through Cars45’s competitive financing options, aiming to transition them from lengthy waiting periods to swift car ownership.

The partnership with GAC Motor is instrumental in realizing this goal by making quality vehicles accessible to every household in Nigeria.

Furthermore, she elaborated on the process, mentioning that customers interested in upgrading their old GAC cars can visit any of the 70 Cars45 inspection centers across Nigeria for assessment and subsequently sell their old vehicle to facilitate the purchase of a new one.

Notably, the turnaround time for selling used cars has been significantly improved, reducing the previous six-week duration to a mere 24 hours.

This enhancement underscores the brand’s commitment to providing value and instilling confidence in individuals as they select their desired cars.