Poor construction facilities have been blamed as the reason behind the closure of the Enugu Airport. This was revealed by the Chairman of the Federal House of Representative Committee on Aviation, Hon. Nnolim Nnaji.
Nnaji disclosed that the contractor responsible for the poor structure would be brought before the Committee for questioning, noting that the contractor would not go free for performing a shoddy job at the airport.
After inspecting the facility, Nnaji said it should have lasted 30 years and not six years after its completion.
“By my investigation, a standard runway should have a life span of thirty years. So if that runway could collapse under six years, some people have to give us explanations.”
While promising to investigate the matter, Nnaji asked the Federal Government to give more grants to the Enugu State Government to enable it to build more roads that will serve the mass influx of people trying to access the city. He also stated that the closure of the airport would compound security challenges confronting the South East Zone which has proven to be a difficult situation for security agencies.
South East Governors react: In a related development, the governors representing the South East have written to the Federal Government to protest the early closure of the Enugu Airport without any adequate palliative measure put in place.
A Nairametrics report cited safety and security concerns as reasons why Sirika, the immediate past Minister of State for Aviation, Hadi Sirika advocated for the closure of the airport. Some of the reasons are linked to bad runway and landing aids, the constant collision of birds with airplanes, and the siting of state radio directly across the runway.
The ripple effect: The closure of the Akanu Ibiam International Airport will affect the operation of some airline companies. The flight operation of Ethiopia Airlines and Air Peace are expected to be disrupted by the closure. This includes the weekly Ethiopian Airlines’ three to four flights to the city.
DISCLAIMER: Ex-Cavendish MD distances self from alleged statement on OML 110
Alhaji Ibrahim Mai Deribe, a former MD of Cavendish Petroleum Limited, has dissociated himself from an alleged statement on OML 110.
My attention has been drawn to a statement with respect to OML110 and published online. This libelous statement purportedly originated from Cavendish Petroleum Limited and was allegedly authored by me whilst also falsely claiming that I, Alhaji Ibrahim Mai Deribe signed in the capacity of Managing Director.
I, Alhaji Ibrahim Mai Deribe, wish to state the following:
- i. I have not authored any such statement in any capacity – personal or otherwise. I have also not caused another to write on my behalf neither have I had any just or probable cause to author such false, misleading and malicious statements with respect to the revoked OML110.
- ii. I had also ceased to be the Managing Director of Cavendish Petroleum for a long time so to attribute a statement from me in that capacity or otherwise should be seen for what it is – a disdainful, calculated attempt by unscrupulous agents to mislead, malign and impugn on my integrity and that of others so mentioned for whatever sinister reasons.
- iii. I completely dissociate myself from the false statement attributed to me and subsequent malicious report published on some faceless online sites without any proof to back it up whatsoever. The statement is highly libelous in its entirety.
- iv. As far as I am aware, these malicious statements and report are not reflective of my opinion, thoughts or the true state of things based on the facts available.
- v. Further, to the best of my knowledge, neither Cavendish Petroleum or anyone associated with the company has authorized or caused the publication of the said false statements.
I therefore wish to inform the public and other stakeholders that the purported statement is malicious against the persons mentioned, false, misleading and did not originate from me in any capacity. I fully dissociate myself from the purported, false and malicious report and urge the unsuspecting public and all stakeholders to disregard the statement in its entirety as I will not hesitate to pursue all legal means to prevent and protect my name and reputation from any further misuse and/or misrepresentation – in any capacity.
Alhaji Ibrahim Mai Deribe
Former Managing Director, Cavendish Petroleum
Growing performances demands have necessitated Bank’s Balance Sheet Management practices – CWG Plc
Balance Sheet Management practices Is needed to embrace advanced platforms and technologies.
CWG Plc has stated that the growing demand by banks to improve performances, increase transparency and comply with complex regulations has necessitated Balance Sheet Management practices to embrace advanced platforms and technologies.
The platforms are expected to provide greater data navigation and analytic capabilities to manage Risk, Returns & Capital.
This was disclosed by Business Director, FSI, Abayomi Olomu, in a statement issued by CWG Plc ahead of its Balance Sheet of the Future: Risk-Data-Analytics Conference on Wednesday.
According to him, the conference, which is organised in partnership with Surya software, a global Financial Control & Risk Management solution provider, will host key players in the Banking and Financial Services industry.
He said, “There is need to explore the role of Balance Sheet Management and Asset Liability Management in future considering the volatile and dynamic markets and how technology can be leveraged to manage these areas.
”Banks have increased demands to improve performance, increase transparency and comply with newer and complex regulations.
“These growing demands have necessitated Bank’s Balance Sheet Management practices to embrace advanced platforms and technologies that provide greater data navigation and analytic capabilities to manage its Risk, Returns & Capital.”
He added that the ‘Balance Sheet of the Future’ conference amplifies CWG and Surya software’s commitment to deploy versatile solutions and technology platforms within the Nigerian and Ghanaian Financial Services market.
What you should know
The keynote address of the event will be delivered by Her Excellency, Zainab S. Ahmed, Honourable Minister of Finance, Budget & National Planning. There will be a guest address from Mr Pravat Dash, Senior VP – Head of Market Risk, Axis Bank which is one of the top private sector banks in India.
Some of the thought leaders from the Nigerian Banking and Financial Industry will also participate in the conference to discuss and share their views on the subject matter.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020
- Abbey Mortgage Bank projects N51.08 million profit in Q2 2020.