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Popular Bank’s Private Jet grounded 

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Popular Bank’s Private Jet grounded

 

 

PRIVATE JET– The Federal Government through the Nigeria Customs Service has grounded a United States-registered Gulfstream G650ER jet belonging to a leading Nigerian bank, signalling the commencement of government clampdowns on private jet owners over unpaid import duty running into several billions of naira.

 

 

The development came barely two weeks after the NCS began a one-month verification exercise for private jet owners in the country. The exercise which began on June 19, 2024, is expected to end on July 19, 2024.

In a public notice by the Customs, the exercise aims to identify private jet operators that have illegally imported aircraft into the country without paying the necessary import duties.

The customs had recovered about N2bn into the government coffers when a similar exercise was carried out in 2019.

At least 80 private jet owners are expected to present their import documents and aircraft certificate of registration to the Customs in Abuja during the one-month exercise.

Although the grounding of private jets which fail to pay the necessary import duty is expected to begin after the one-month Customs verification exercise, findings showed that moves by some operators to export their aircraft might have forced the NCS to begin the clampdowns on some private jet operators.

 

The Nigeria Customs Service had last week said some operators of foreign registered private jets were temporarily flying their aircraft out of the country apparently in a bid to evade the exercise.

However, findings by The PUNCH on Sunday disclosed that a luxury Gulfstream G650ER plane belonging to a tier-1 bank had been grounded at Lagos airport over unpaid import duties reportedly estimated at N1.9bn.

It was learnt that the NCS had written the Nigerian Civil Aviation Authority and the Nigerian Airspace Management Agency asking them to cancel the flight clearance approval given to the private aircraft.

Our correspondent gathered that the agencies had received the letters to distrain the US-registered Gulfstream G650ER with registration number N331AB and manufacturer’s serial number 6487.

The bank is reportedly owing about N1.9bn in unpaid import duties to the government on two formerly owned private jets (Gulfstream G450 and Gulfstream G550 aircraft), which according to sources have since been taken out of the country.

It was also understood that the assessment of N1.9bn was based on a verification exercise carried out by the NCS in 2021.

It was learnt that going by the current exchange rate, the N1.9bn might be raised to about N6bn. Aircraft import duties are computed based on prevailing exchange rate.

 

 

NCAA and NAMA officials said they had received the cancellation of the previously granted flight clearance approval for the Gulfstream G650ER aircraft.

According to the letter, the luxury aircraft which cost over $65m, was found to have contravened the Federal Government’s import duty regulations and as such denied the necessary Export Permit by the Customs Service Area Command at the Murtala Muhammed Airport, Lagos.

A copy of the letter written to the NCAA and NAMA, which was sighted by one of our correspondents, was titled “Re: cancellation of flight clearance approval for Gulfstream G650ER with registration N331AB and manufacturer’s serial number 6487.”

The letter read in part, “The above subject matter refers.  The Nigeria Customs in its drive for enhanced revenue collection decided to do a verification exercise on private airlines operating in Nigeria.

“The verification aims to identify privately owned aircraft that were inappropriately imported into the country. This will enable the Service to perfect these Imports and collect revenue accruable to the Federal Government.

“The above-cited aircraft has been found to have contravened the Federal Government’s import duty regulations and as such denied Export Permit by the Customs Service (MMIA Command).

“In furtherance to the above, we are soliciting your kind co-operation and assistance to deny flight clearance approval”

The Comptroller General, NCS, Adewale Adeniyi, had two weeks ago said a good number of private jets were leaving the country as the verification began.

Adeniyi, who disclosed this while speaking in an interview with Arise Television, stated that since the exercise started,  only a few owners have shown up.

“Very few of them (private jet operators) have showed up for verification and we gather intelligence that a good number of them are leaving Nigeria since the announcement was given because they would not want to be verified,” he said.

The CGC explained that the service introduced the private jet verification exercise because more private jets were operating outside the ambits of the law.

“We have seen so many of these aircraft flying and our record tends to show that only a few of them have shown up to pay duty and this is why we are bringing this verification up,” he said.

The CGC disclosed that data obtained from the Nigerian Civil Aviation Authority revealed that though many private jets were operating in the country, only a few had paid customs duties.

 

 

 

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At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

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At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

 

 

From left, Non-Executive Director, FrieslandCampina WAMCO, Audrey Joe-Ezigbo; Non-Executive Director, Engr. Mustapha Bello; Chairman, Board of Directors, Moyo Ajekigbe; Managing Director, Roger Adou and Non-Executive Director, Oyinkan Ade-Ajayi during the 51st Annual General Meeting of FrieslandCampina WAMCO Nigeria PLC held in Lagos recently. See below other images of Board members

 

At the 51st AGM of FrieslandCampina WAMCO (Photo News) 

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Development Bank of Nigeria Announced as Partner for the Africa Social Impact Summit 2024

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Development Bank of Nigeria Announced as Partner for the Africa Social Impact Summit 2024

Sterling One Foundation, co-conveners of the Africa Social Impact Summit are pleased to announce the Development Bank of Nigeria (DBN) as one of its partners for the third edition of the Africa Social Impact Summit to be held from July 25 – 26, 2024 in Lagos, Nigeria.

 

 

With this partnership, DBN joins an impressive list of partners, including private-sector organizations, international development organizations, public-sector bodies, and diplomatic organizations.

Established in 2014, the Development Bank of Nigeria is a wholesale finance institution that focuses on addressing the financing challenges facing Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries.

Now in its sixth year of operation, DBN has disbursed loans to millions of MSMEs and supported many others through initiatives such as the Entrepreneurship World Cup, Eco Innovation Challenge, DBN capacity building initiative and many more. By end of 2023, the institution lent ₦ N787.47 billion to over 494,819 MSMEs, 356,451 of which were women-owned.

Speaking on what necessitated this, Managing Director and CEO of DBN, Dr. Tony Okpanachi explained that the DBN has been a part of the Africa Social Impact Summit right from inception, with its Chief Economist as one of its panellists, because it sees value in the Summit’s drive for increased impact investments to scale sustainable solutions.

“We are constantly looking to reach more enterprises building impactful solutions that address Nigeria’s challenges and this Summit presents a good opportunity to engage them and offer them ways to scale and grow,” he said.

Providing further insight into the partnership, Mrs. Olapeju Ibekwe, CEO, Sterling One Foundation expressed delight at having the Development Bank of Nigeria onboard, stating that the impact of their work and the insights they have from serving Nigeria’s vibrant MSME space is worth learning from. She also hinted at the opportunity this partnership offers to Summit attendees looking to access credit for the impact-focused solutions they are building.

The Africa Social Impact Summit now in its third year is expected to be held from July 25 to 26, 2024 at the Eko Convention Centre, Lagos, Nigeria. Registration for in-person attendance is ongoing at www.theimpactsummit.org

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H. E Amb Dr Jonathan Ojadah decorated as UN Rescue Marshall*

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H. E Amb Dr Jonathan Ojadah decorated as UN Rescue Marshall*

 

*PROFILE OF H.E Amb Dr Jonathan Ojadah COP, fciml, faeit*

 

 

His Excellency, Amb. Dr Jonathan Emmamuzo Daniel Ojadah is a Nigerian diplomat, Businessman, humanitarian & Philanthropist. A native of Aviarha, Isoko North LGA in Delta State, Nigeria., A distinguished personality in the realm of international trade and investment diplomacy. With an expansive mastery in both bilateral and multilateral commerce, he is poised as a significant figure in global economic arenas.

 

H. E Amb Dr Jonathan Ojadah decorated as UN Rescue Marshall*

Amb. Jonathan has worked with different diplomats in several high level dialogues including the EU, AU & UN in countries such as Germany, United Kingdom, Lithuania, DR Congo, Ethiopia, Rwanda, Zambia, Tanzania, Kenya, Cameroon, Ghana and Uganda .
He is actively involved in various initiatives promoting international cooperation and diplomacy aimed at promoting peace and prosperity globally. Some of his notable achievements and initiatives include:
– Advocating for the rights of marginalized communities and promoting social justice
– Consolidating Peaceful co-existence of societies in Africa
– Promoting sustainable development and climate change mitigation efforts
– Facilitating cultural exchange programs and educational initiatives between countries
– Building partnerships with other organizations and stakeholders to promote peace and prosperity globally.

He has participated in various UN events and conferences, Peace Support Initiatives in issues such as:
– Peace and conflict resolution
– Human rights and social justice
– Sustainable development and climate change
– Education and cultural exchange

*EDUCATION*
His educational background is a testament to his commitment to continual learning and excellence in his various fields of endeavor.
Dr. Jonathan’s educational journey is as diverse as it is impressive. He attended Contemporary Nursery & Primary school, Banjo Str, Liasu rd Ikotun Egbe in Lagos State, Sigma Bond Academy, Alake Idimu, Lagos State and tertiary education at the Polytechnic, Ibadan, Oyo State obtaining Ordinary National Diploma (OND) in Business Administration.
His unquenchable thirst for knowledge led him to acquire a Diploma in Diplomacy & International Relations from ESTAM University in Cotonou, Benin Republic.
His academic ventures took him abroad to the International British Institute (IBI) in Cairo, Egypt, where he achieved an Advanced Diploma in Tourism & Hospitality Management.
Furthering his education in the United States, he earned a Post Graduate Diploma (PGDE) in Education Management from the American Institute of Education & Training, and another Advanced Diploma in Health, Safety Environment (AD-HSE) Management from CIML Business School, USA.
Amb. Dr. Jonathan also holds a Master’s (MBA) in Leadership & Business Management from CIML Business School, Delaware, USA.

*PHILANTHROPY*
Beyond his professional pursuits, Amb. Dr. Jonathan’s profound philanthropy has been a beacon of hope for many. His dedication to humanitarian cause is further exemplified by the establishment of the Arise O Nigeria Empowerment Initiative, A non-governmental organization (NGO) , launched with the support of UN Women in 2016, a testament to his commitment to empowering vulnerable groups, advocating for the marginalized, tirelessly working towards the attainment of the United Nations Sustainable Development Goals (SDG) in Nigeria.

*APPOINTMENTS*
His Excellency, Amb. Dr.Jonathan Ojadah is presently appointed and Elected as the Global President of UNIPGC. He is presently serving as the Head Of Mission (Africa) and Permanent Representative to the United Nations Hqtrs, New York, USA for the Royal Diplomatic Club of the United Nations, Lithuania EU.

Amb. Jonathan Ojadah’s work with UNIPGC has helped to promote the organization’s goals and objectives, and has contributed to its reputation as a respected and influential international organization.

*AWARD AND HONORS:*
H. E Amb Dr. Jonathan’s mantle is adorned with over 15 Leadership, merit, and achievers awards, some of which include:
👉 2024 U.S. President Joe Biden’s Lifetime Presidential Achievement Award. which attracted congratulatory messages from top dignitaries worldwide, including Her Excellency Chief Dr. Jewel Howard Taylor, former Vice President of Liberia; Congresswoman Sheila Jackson Lee of the 18th Congressional District of Texas, USA; Hon. Kevin Uguru, Member of the German Parliament; and others.
👉 United Nations Rescue Marshall
👉 FORBES Best of Africa Outstanding Leadership Personality in Sustainable Peace Building, Diplomacy & Governance Award 2023 nominated by the Foreign Investment Network (FIN) UK. A recognition of his relentless efforts, unwavering dedication, and steadfast commitment to humanitarian services.
This prestigious FIN FOEBES Award recognition is a culmination of his consistent and impactful Sustainable Development projects that have significantly improved community and organizational effectiveness. These initiatives have also amplified the capabilities of his international team, leading to remarkable accomplishments and thus, meriting him the distinguished FIN-FORBES Award of Excellence, which he was honored with in London, UK, on July 19th, 2023.

👉 In a further commendation of his service. H.E. Amb Dr. Jonathan Ojadah, was bestowed with the Euroknowledge Leadership Award at the British Parliament, House Of Lords. London UK on the 24th Of Nov. 2023.

👉 Distinguished Service Award by the Rebranding Leaders Africa Initiative.This award was presented to him reflecting his exceptional contributions to the United Nations’ mission and values.

👉 Honorary Doctorate Causa from ISMT University in the Benin Republic, recognizing his scholarly contributions and societal impact.

👉ICON of Societal Development award by the Yoruba Youth Assembly, symbolizing his influence and positive change across various communities.
Ambassador Dr. Jonathan Ojadah’s accolades continues with another prestigious ICON of Societal Transformation award, bestowed upon him by the Northern Youths Peace Ambassadors of Nigeria. This honor celebrates his efforts in fostering unity, development, and peace among the diverse communities across Nigeria
Moreover, his work and influence extend beyond national boundaries, earning him the prestigious African Leadership Award. This award highlights his exemplary leadership qualities and his significant contributions to the advancement of African communities through sustainable development and peace-building initiatives.

Ambassador Dr. Jonathan’s illustrious career and philanthropic endeavors have established him as a beacon of Inspiration and a catalvst for positive change. not just in Africa but on the global stage.

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