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General News

SAHCOL Reaffirms Commitment to Safety

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(L-r): Bamidele Jacqueline, officer, Federal Road Safety Commission (FRSC), Olu Owolabi, managing director, SAHCOL, Mr. Chuks Enwonwu, assistant commissioner of Police (Operations), Area “B” and Hajara Musa of FAAN, during the SAHCOL’s safety week in Lagos
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The management of Skyway Aviation handling Company Limited (SAHCOL) has reaffirmed the Company’s commitment to ensure safety of staff and clients’ items in discharging their duties.

Mr. Olu Owolabi, managing director, SAHCOL declared the Management’s recommitment while declaring open a-week long Safety Week organised by the Company in Lagos.

He said that SAHCOL is committed to be becoming an example in aviation handing safety in the country and Africa in general, adding that several steps have been taken by the management to ensure staff welfare are not treated with levity.

He maintained that safety goals of the Company have been showcased in several aspects of its operations which informed the unalloyed allegiance shown by several airlines it handles.

“We want to reassure our clients that safety is enshrined in our procedure and we follow them to the later. Some issues like pilfering cannot be found among our staff whose welfare is paramount to the management of SAHCOL”.

 The MD said that the SAHCOL has succeeded in inculcating on the minds of the workers that they are ‘Change Agents’ in aviation handling sub-sector.

“It is when the workers are safe that we can say the Company is progressive. It is an all-team expectation that safety is maintained in discharging our duties. That is why we mapped out this week to remind ourselves the need to keep to safety tips. We will never relent in proving to the industry that we can become the safest aviation handling company in West Africa,” he added.

In a paper titled: “Security Threats in Aviation Industry and the Role of Ground Handling Agents,” Mr Salau Waheed, Commissioner of Police, Airport Command, admonished the Company not to relent in ensuring adequate protection of its customers’ cargo from pilfering and to raise alarm when traitors are detected.

“They are also required not to be party to insiders collusion whereby some light/sensitive goods develop ‘wings’ and disappear. In other words, the Police and other security agencies are supposed to synergize with SAHCOL for effective handling and efficient delivery of cargo through clearing agents to the owners of the goods and security of these goods. This will ultimately impact positively on the National economy in its revenue earnings,” he emphasized.

 The Commissioner who was represented by Mr. Chuks Enwonwu, assistant commissioner of Police (Operations), Area “B”, Lagos, added that due to the sensitivity of the airports, viz-a-viz the general security situation in the country, the challenges are quite high for all the security agencies working in the Airport. “They are stretched to the limits by influx of travelers utilizing the limited facilities at the airports.

“It will be recalled that the MMIA, Ikeja, for instance, was built in 1977 and only benefited forst expansion between 2012 and 2013 due to the on-going airport transformation. Yet the travelling public would have increased by over 100% over the years,” the CP said.

 He noted that naturally the airports are expected to have increase in miscreants, touts, pickpockets and milling grounds in pretence to be service providers.

“Worst case scenario is the recent Boko Haram attacks ravaging operatives that have so far saved the airports. Therefore, all hands must be on deck, both SAHCOL and security agencies, to be extra vigilant as stakeholders in the airport, to checkmate criminality, touting, miscreants, etc., from SAHCOL warehouses,” he advised.

 


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General News

Wema Bank Plans N2M Grant to Empower Women

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Innovative financial institution and pioneer of Africa’s first fully digital bank, Wema Bank, has reaffirmed its commitment to advancing women’s empowerment by partnering with the SheCan Conference for the fifth consecutive year.

The collaboration has announced it would empower women with N2 million grant during the 6th edition of SheCan 6.0. conference, that will be held on July 18, 2025, at Balmoral, Federal Palace Hotel, Lagos.

The event is expected to host over 7,000 women under the theme “SheCan Do More.”

Announcing this partnership, Wema Bank through its women-focused platform, SARA by Wema, said it will be awarding ₦2 million in business grants to support women entrepreneurs within the SARA Community.

This grant is to support small and medium businesses within the SARA Community to scale up their business.

Ayodele Olojede, Head, Retail and SME Banking at Wema Bank, said, “Wema Bank is committed to empowering women entrepreneurs by providing the financial backing, tools, training, and networks they need to scale sustainably. Year after year, we’ve seen the incredible ripple effect that access, and opportunity can create in the lives of women and their communities.

“Through SARA by Wema, our goal is to create an environment where Nigerian women can dream bigger, build stronger, and lead the economy with confidence. This partnership with SheCan is a statement of belief in the power of women to transform society.”

“This year’s partnership represents more than sponsorship; it is a tangible investment in helping Nigerian women build sustainable businesses, scale their impact, and contribute meaningfully to economic growth.

“Eligible applicants must be women-led businesses with active Wema Bank accounts and must be registered members of the SARA Community.

“Interested participants are required to submit a written pitch of no more than two pages, detailing their business and founder story, the problem being solved, target audience and competitive advantage, proposed use of the grant, and the expected outcomes and community impact. Entries must also include the applicant’s Wema Bank account number, full name, and the email address used to join the SARA Community.”

 


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General News

Unlicensed Investment Firms Fall Hard in Lagos Court

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Justice D.I. Dipeolu of the Federal High Court in Ikoyi, Lagos, has convicted two companies, FARM360 Limited and MCBHADMOS Trans-Atlantic Trade Limited, for illegal capital market operations.

The Economic and Financial Crimes Commission (EFCC) disclosed that the companies were arraigned on June 16 by the Lagos Zonal Directorate 2 of the EFCC on a five-count charge for operating collective investment schemes without valid licences from either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

The charges allege that between 2021 and 2022, the firms collected approximately N80 million from several investors but failed to refund the money or pay accrued interest. One of the counts stated that the companies operated without a valid licence to conduct investment management, violating Section 57 of the Banks and Other Financial Institutions Act 2020.

The companies pleaded not guilty, but EFCC investigator Nnadikwu Izuchukwu Collins presented evidence that included a petition from investors who claimed the firms promised high returns through agricultural and forex trading investments. The petition revealed the group invested a total of N93 million.

Investigations showed neither FARM360 nor MCBHADMOS held the necessary licences from the SEC or CBN. A Fidelity Bank statement revealed that the N80 million received was used for personal purposes. The directors of both companies remain at large, with efforts underway to apprehend them.

The prosecution submitted bank statements, the investor petition, and official correspondence with the CAC, CBN, and SEC as evidence, all of which were admitted by Justice Dipeolu.

The court convicted both companies on all counts and imposed fines of N5 million per count.

In a related case, the court also convicted Quintessential Investment Company Limited for similar illegal capital market activities, following its arraignment on two counts of operating collective investment schemes without CBN approval.


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Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

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Burna Boy, Grammy-winning Nigerian artist, has publicly distanced himself from a meme coin circulating online that falsely uses his name and image for promotion.

Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

Burna Boy

In a statement shared via Instagram, the Afrobeats star made it clear that he has no involvement in any cryptocurrency ventures, describing such schemes as fraudulent.

His comments come amid growing traction of a meme coin allegedly linked to him, which has been circulating on social media platform X (formerly Twitter).

“I don’t do any internet ‘coin’ business. I see it as fraud and I have no interest in any of that,” Burna Boy wrote. “So if you see anyone using my name for such, please disregard or report them.”

The singer urged fans to remain vigilant and to report anyone promoting the crypto project under false pretenses.


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