No Result
View All Result
Monday, May 23, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG must be innovative in dealing with rise in PPI – AGI

    Government partners private companies to mine abandoned iron ore in Oti Region

    Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

    SEC and West Africa Securities Regulators Association to hold 2nd edition of WACMaC

    GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG must be innovative in dealing with rise in PPI – AGI

    Government partners private companies to mine abandoned iron ore in Oti Region

    Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP

    Manufacture of petroleum products push PPI to 31.2% in April

    Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation

    SEC and West Africa Securities Regulators Association to hold 2nd edition of WACMaC

    GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

    Akufo-Addo worried over impact of fertiliser shortage on poultry industry

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Nigeria: NCAA to Intensify Audit of Airlines Over Poor Financial Obligations

bycitibusinessnews
January 31, 2017
in Africa, Top Stories, West Africa
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

The Nigerian Civil Aviation Authority (NCAA), yesterday disclosed plans to further intensify surveillance and economic audit of some airlines over alleged inability to meet financial obligations.

The NCAA, apex regulatory body of air travel business in the country, said the motive is not to ground any airline, but to ensure strict compliance with the standard rules and prevent compromise amidst economic challenges.

An intensive economic audit of the airlines may, however cost the number of operating flights to reduce, with lesser number of air passengers and revenue accrue to the regulatory agencies.

NCAA Director General, Muhtar Usman, yesterday told reporters in Lagos that the number of domestic flights operated had dropped significantly.Usman noted that the agency recorded an average of 597 flights daily in 2016, a drop from 700 recorded in 2015.

The plunge in flights notwithstanding, the total number of passengers remained the same for 2015 and 2016, and put at average of 42,000 daily. From January to September 2015, domestic passengers was put at 8,130,568, by 202,352 flights. Foreign airlines for the same period carried 3,272,331 passengers with 31,493 flights.

January to September 2016 produced a total of 8,090,816 domestic passengers, from 130,745 flights. Foreign airlines airlifted 3,272,331 passengers, with 33,099 flights for the same period.

In the area of flight tickets, the sector realised N385.9 billion for 2015, while the tickets bought from January to October 2016 was put at N330.6 billion.

The DG said the drop in flight figures and revenue were not unconnected with the challenges of economic recession, paucity of foreign exchange, difficulties in repatriating funds by the foreign carriers and perennial scarcity of aviation fuel.

Usman, though denied knowledge of a popular airline still owing seven months salary till date, said the NCAA was set to intensify the rate of surveillance.

He said: “Audits are being carried out as and when due. The owing airlines are up to date on payment based on the agreement we signed in December last year. One of the things we have decided is to increase the rate of surveillance to ensure that people are doing what they should as and when due.”

On some stakeholders calling for his sack over alleged poor run of result, he said the achievements of NCAA in international ratings since he came on board would speak for him, adding that he would not join issues with his aggrieved senior colleagues.

Airport Security Consultant, Group Captain John Ojikutu (rtd.), had consistently warned that an airline that cannot meet its financial obligations on fuel, maintenance and pay salaries is a risk to safety in the sector.

Ojikutu added that the airlines making money from ticket sales have no excuse with the inability to meet financial obligations.He urged the regulators, especially the NCAA to audit the airlines to determine their debts or financial health and also the sustainability of their operations.

–

Credit: All Africa

Related Posts

Top Stories

BoG must be innovative in dealing with rise in PPI – AGI

byEllen Dapaah

The Association of Ghana Industries (AGI) is calling on the government through the Bank of Ghana to be more innovative...

Read more

Government partners private companies to mine abandoned iron ore in Oti Region

Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in April; 78% of GDP

SEC and West Africa Securities Regulators Association to hold 2nd edition of WACMaC

GEA/Mastercard Foundation Young Africa Works supports 3,000 Beneficiaries with Start-up Kits

Akufo-Addo worried over impact of fertiliser shortage on poultry industry

Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

Next Post

Kenya's Uchumi posts narrower FY pretax loss

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.