Business Briefs
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THE Federal Airports Authority of Nigeria, FAAN, is improving security facilities in all its 22 airports across the country through the installation of safety and security equipment. Sale Dunoma, managing director of the FAAN, stated this in a message to the Airports Council International, ACI, Africa Regional Assembly hosted by Airport Company South Africa, ACSA, in Durban, between October 13 and 15.
According to Dunoma, the FAAN had provided an effective platform that led to the successful fight against Ebola in Nigeria by coordinating screening processes. The FAAN team, led by Henry Omeogu, a captain and director of Airport Operations, showcased the transformational strides in airport operations with the simultaneous remodelling of 22 airports across the Nigeria.
The theme of the two-day conference which was ‘Service Excellence,’ attracted 59 member-airports in Africa operating 251 airports.
Angela Gittens, the director-general of the ACI worldwide, said airports should build brand loyalty and provide a service that differentiated from others to attract air travellers. She noted that it was possible passengers to forgive almost anything at an airport as long as they could feel safe and in clean environment. Gittens added that they would also like the ambiance, the feel they would get when they walked into a terminal, a sense of order and security.
Earlier in his welcome address, Pascal Komla, president of the ACI Africa, said with the theme “Service Excellence” the event provided a unique opportunity for airport and aviation executives, experts and exhibitors from across the globe to network, share information and forge a common vision for the future of the African airport business.
Ali Tounsi, secretary general of the ACI Africa, said there were large discrepancies across the continent with some very high and low levels of services and standards, partly attributed to different cultures, languages and geographical dimensions.
“A big challenge is also the issue of safety with the African continent having the worst safety ranking in the world,” Tounsi said, adding: “With so much happening economically in Africa, in the next few years, airports would play a hugely important role and had to have priority attention”
Hajia Salamatu Umar Eluma, director of human resources; Kabir Mohammed, an IAP member and chief of staff to the MD/CEO; airport managers and other operators from the FAAN also attended the conference.
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UC Rusal Owns ALSCON – BPE
THE Bureau of Public Enterprises, BPE, has said the BFI Group has not paid any money for the acquisition of the Aluminium Smelter Company of Nigeria. The BPE said it had not handed over ALSCON to the BFIG, but that the company was still owned by UC Rusal.
The BPE, in a statement issued by Chigbo Anichebe, head, public communications, in Abuja, on Tuesday, October 14, said following various media accounts on the alleged takeover of ALSCON by the BFI Group, the BPE would like to put on record that it had not handed over ALSCON to the BFIG, or any other group other than the present managers, Rusal.
“It is important to note that the bureau only hands over Federal Government assets to those who bid and fully pay the bid consideration. The BFIG has not paid a kobo. As a result, the BPE’s position has long been that the BPE performed its obligations under the Supreme Court decision of July 6, 2012, but the BFIG failed to perform its part of the obligations, the result being, in our opinion, that the BFIG has no right to the said shares,” he said.
The bureau said the decision of September 30, 2014, by the Federal High Court in Abuja, in BFIG’s case against the BPE to “enforce” the Supreme Court judgment was in error. “That decision is already a subject of an appeal and the BPE/NCP expects that decision to be reversed in the appellate court.. In conclusion, the BPE stands by its position that the BFIG, having failed to comply with the Supreme Court judgment of July 6, 2012, has no right to the shares in question or to the ALSCON plant.”
UC Rusal had stated on Monday that the September 30, 2014, decision of the Federal High Court in Abuja, in favour of the BFI Group as the new owner of the ALSCON was an error and should be reversed. It said the decision was already subject of an appeal and maintained that it was the rightful owner of the aluminium plant. Rusal argued that the BFIG had failed to comply with the Supreme Court judgment of July 6, 2012, and had no right to the shares of the company in question or to the ALSCON plant.
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NSE to Delist Starcomms, Seven Others
THE Nigerian Stock Exchange, NSE, on Tuesday, October 14, served a final notice of delisting on Starcomms Plc, Afroil Plc, Jos International Breweries Plc and six others for failing to regularise their listing status despite being given three months to do so. The other companies are Investment and Allied Plc, Pinnacle Point Group Plc, West African Glass Industry Plc, Nigeria Wire & Cable Plc, Mtech Plc and Big Treat Plc.
The affected companies are among the 24 companies that the NSE served with the notice of delisting on June 23, 2014. The NSE explained in the initial notice that it received the approval of the Quotation Committee of its National Council on June 2, 2014, to delist the companies from the Daily Official List pursuant to the provisions of its Listing Rules, specifically, Clause 15 of the General Undertaking.
“The Exchange has decided to delist these entities because of their failure to file quarterly and annual financial statements as required under the listing rules. This regulatory action is necessary in order to protect the investing public from trading in securities of entities with no current information regarding their financial status,” it said.
The NSE gave each of the affected companies three months to regularise their listing status. Daar Communications Plc, UTC Plc, IPWA Plc and Goldlink Insurance Plc were among the companies initially slated for delisting. The list also included Stockvis Plc, Nigeria Sewing Machines Plc, Golden Guinea Plc and FTN Cocoa Processors Plc, among others.
It had been reported earlier this month that Daar Communications Plc was leading the other companies in a struggle to avoid being delisted by the NSE. The report noted that Daar Communications and FTN Cocoa Processors had released financial statements since the initial notice was served, while Goldlink Insurance issued a statement explaining that it was “vigorously pursuing” efforts to resolve all regulatory problems.
Oscar Onyema, chief executive officer, NSE, had confirmed the efforts by some of the firms to avoid being delisted, without mentioning their names, at the second quarterly meeting of the Capital Market Committee in Lagos. “A number of those companies have engaged the Exchange and we are now talking with them. Some of them have filed their papers and some of them are holding their AGMs,” he said.
— Oct. 27, 2014 @ 01:00 GMT
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