Business
Travel agencies advise new committee members on professional ethics
-By Ebere Chibuzor
National Association of Nigeria Travel Agencies, NANTA has advised newly inaugurated committee members to adopt a professional approach in achieving profitability and sustainability in their business activities.
Vice President, Lagos Zone of the association, Yinka Folami, at the inauguration of committee members in Lagos, said this recently.
He enjoined the inducted members to serve with every sense of professional conduct, adding that such development would enable them to demonstrate a high level of competence.
Folami commended efforts made by the different government agencies and other players in ensuring that people observed all COVID-19 measures as directed by the government.
He commended all travelling publics, aviation stakeholders and the entire Nigerian community for their steadfastness throughout the trying times.
He said, “As we begin to stabilise from the devastating effects of COVID-19 pandemic, we urge that there should be no loss of concentration and that we should continue to abide strictly by the set protocols.”
He also commended stakeholders and other guests present during the event including the National President, NANTA Susan Akporiaye; NANTA Lagos zonal officers, Lola Adewole.
He urged them to continue on the path of exemplary leadership.
He unveiled members of the committee responsible for monitoring and advising on approaches, travel policies, and practices to achieve balance in Lagos travel trade market as Chudi Aligwekwe, Omonike Adesokan, Chinwe Eluchie, Funmilayo Oriola, Yinka Eniayekan, Nwankwo Ifeanyi, among others.
While committee responsible for interpreting code of conduct as stipulated in the NANTA constitution and administer standard which NANTA members must comply with is made up of Arit Tunde-Imoyo, Lawal, Folakemi Fatade, Alabi Kazeem Ishola, Adetunji Farinu, Lola Adefope Oluwasanmi Shobayo and Lola Adewole as exco observer.
Those for establishing and maintaining relationships with both active and passive members and stakeholders are Efetobo Awhana, Adekunle Oluwole, Joanna Owolabi, Taiwo Omoifoh, Abimbola Abiona, Elohor Kagho, Eke Stella and Taiwo Oludayo.
Folami recalled as part of NANTA’s Corporate Social Responsibility, a committee was set up for providing relief materials to families within the neighborhood of NANTA headquarters in Lagos.
He said the committee supported the COVID-19 safety protocols by distributing 1,500 face masks to the aviation frontline workers such as Federal Airports Authority of Nigeria, FAAN, Nigerian Civil Aviation Authority, NCAA, International Air Transport Association, IATA, Bi-Courtney and the Nigeria Immigrations Service.
He said, “That was successfully executed in August 2020, and as part of NANTA’s way to maintain a culture of giving back to society.”
Business
Finally, NERC unbundles TCN, creates new system operator
Finally, NERC unbundles TCN, creates new system operator
The Nigerian Electricity Regulatory Commission (NERC) has set up the Nigerian Independent System Operator of Nigeria Limited (NISO) as it unbundles the Transmission Company of Nigeria (TCN).
The transmission leg of the power sector has over the years been seen as weakest link with obsolete equipment.
The unbundling announcement is contained in an Order dated April 30, 2023 and jointly signed by NERC chairman, Sanusi Garba, and vice chairman, Musiliu Oseni.
By this order, the TCN is expected to transfer all market and system operation functions to the new company.
The commission had previously issued transmission service provider (TSP) and system operations (SO) licences to the TCN, in accordance with the Electric Power Sector Reform Act.
The Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.
In the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.
NERC said the company is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to the TCN.
“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (“NISO”),” NERC said.
Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company would “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”
Business
Naira depreciates again, trades at N1,402/$
Naira depreciates again, trades at N1,402/$
The Nigerian currency, naira, on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N11.71
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This represents a 0.84 per cent loss when compared to the previous trading date on Tuesday April 30, when it exchanged at 1,390.96 to a dollar.
However, the total daily turnover increased to 232.84 million dollars on Thursday, up from 225.36 million dollars recorded on Tuesday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between 1,445.00 and N1,299.42 against the dollar.
Naira depreciates again, trades at N1,402/$
Auto
Appeal court takes over NURTW case as NIC withdraws
Appeal court takes over NURTW case as NIC withdraws
The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.
The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.
Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.
The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.
The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.
Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.
With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.
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