News
Airlines Conspiring to Take Air Peace Out of Business- CEO

Allen Onyema, chief executive officer of Air Peace , has claiimed that some airlines are conspiring to take his company out of business by underpricing the flight tickets for the Lagos-London route.
Speaking on the Channels TV evening program, Politics Today, Onyema revealed that the significant reduction in international airfares by foreign carriers operating on the route is a deliberate attempt to prematurely remove Air Peace from the market.
The CEO pointed out that before Air Peace entered into the Nigeria-UK route, foreign airlines were charging exorbitant prices, citing business class tickets costing as much as N17 million and economy class reaching N5 million.
However, shortly after Air Peace began operating on the Lagos-London route, foreign airlines drastically reduced their fares, despite no significant change in the exchange rate between the dollar and the Naira.
Onyema expressed his frustration, stating, “The foreign airlines were taking between N15-N17 million for business class, N6 million for premium economy, and N5 million for economy. Then Air Peace came on, charging N4.5 million for business class, and economy class starting from N1.2 million. Now Air Peace did this, everybody has came crashing their prices from N18 million to N5 million. Dollar did not change.”
He further elaborated that foreign airlines are conspiring to cut their fares to levels below their break-even point, with the aim of pushing Air Peace out of the Nigeria-UK route. Onyema warned that if these tactics succeed, Nigerians would face considerably higher fares than the current rates.
Air Peace launched its Lagos-London route on March 30 to provide quality travel experiences and make international trips more affordable for Nigerians.
Since commencing its UK service, Air Peace has offered competitive rates, with economy class fares starting at N1.2 million, significantly lower than the N3-5 million usually charged by foreign carriers. Business class tickets are priced at around N4.5 million, well below the N15-N18 million rates of foreign airlines.
Onyema also disclosed that since the airline began its direct flights from Lagos to London a few weeks ago, Gatwick Airport has allegedly frustrated its operations, aiming to impede its activities in the UK. He cited challenges with ground handling and space allocation at Gatwick Airport as proof of these retaliatory actions.
On the inaugural flight out of London, Onyema claimed that Gatwick Airport management moved Air Peace to a different checking area and assigned a malfunctioning baggage carousel, leading to delays and inconvenience for passengers.
Additionally, the CEO revealed that the boarding gate in the reassigned terminal collapsed on the day of Air Peace’s flight, further compounding the airline’s challenges at the London airport.
Onyema acknowledged the support received from the Federal Government, particularly from Festus Keyamo, minister of Aviation and Aerospace Development, in launching Air Peace’s Lagos-London route successfully.
However, he called on the government to intervene against foreign airlines that are slashing fares below their break-even points, aiming to force Air Peace out prematurely.
He suggested that the government could assist Air Peace by reducing its operational charges, thereby providing the airline with a better opportunity to compete against foreign carriers backed by their governments.
News
Senate Probes Federal Character Violations by NDIC, Others

The Senate on Tuesday deplored what it described as violations of the principles of federal character in the appointments, recruitments and promotions in some key federal institutions and agencies.
Specifically, the upper legislative chamber fingered the Nigerian National Petroleum Company Limited (NNPCL), Pension Commission (PENCOM), the Nigeria Deposit Insurance Corporation (NDIC) and several other Ministries, Departments and Agencies (MDAs) as culprits.
The matter was a subject of debate at plenary as Senator Osita Ngwu called the Senate’s attention to the alleged violations through a motion.
Ngwu’s motion, entitled “Urgent Need to Address Systemic Abuse and Ineffective Implementation of the Federal Character Principle in Nigeria’s Public Sector,” got the attention of the lawmakers.
Ngwu, who led the debate, cited Sections 14(3) and 14(4) of the 1999 Constitution, which explicitly prohibit the dominance of individuals from a few states or ethnic groups in federal institutions.
He observed that while recruitment opportunities are limited, promotions are often based solely on years of service rather than merit, leading to the continued marginalisation of certain regions.
According to him, the lack of accountability in enforcing federal character principles has compromised fairness in the public sector, with senior-level recruitments often influenced by cronyism instead of competence.
Ngwu further observed that while the federal capital principle aims to balance merit with equitable state representation, its poor implementation has negatively affected discipline, morale, and institutional efficiency.
According to him, “The federal character principle, entrenched in the 1999 Constitution of the Federal Republic of Nigeria, mandates fair representation in federal appointments to reflect the linguistic, ethnic, religious, and geographic diversity of the nation.”
He continued, “Section 14(3) and (4) of the Constitution unequivocally stipulate that ‘no predominance of persons from a few states or a few ethnic or sectional groups’ should exist within the federal government or its agencies.”
Ngwu listed the NNPCL and its subsidiaries, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the National Agency for Food and Drug Administration and Control (NAFDAC), the Nigerian Ports Authority (NPA), PENCOM, NDIC, the Federal University of Technology Akure (FUTA), the National Library of Nigeria (NLN), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Energy Commission of Nigeria (ECN), the Solid Minerals Development Fund (SMDF), and the Nigerian Nuclear Regulatory Authority (NNRA) as non comliant entities.
He accused them of consistently failing to adhere to federal character Mandates, and often bypassing regulations in their recruitment exercises.
Ngwu warned that unchecked violations of federal character laws would continue to erode the effectiveness of key legislative provisions.
He listed the affected legislative provions to include Section 14(d) & (e) of the Legislative Houses (Powers and Privileges) Act, 2017, Part I(1)-(2) of the Subsidiary Legislation 23 of 1997, and Section 11(2) of the Freedom of Information Act, 2011.
He also raised concerns about the lack of independence of the Federal Character Commission (FCC).
Ngwu observed that despite the Commission’s constitutional mandate, it remains weakened by underfunding, political interference, and a lack of enforcement power.
While approving the probe of the affected entities, the Senate directed its Committee on Federal Character and Inter-Governmental Affairs to conduct investigative hearings into their activities.
The committee is expected to submit its findings within four weeks.
News
Police Arrest 4 Bank Staff over Alleged ₦270m Fraud, Money Laundering

The Lagos State Police Command has arrested four bank employees over their alleged involvement in a sophisticated fraud and money laundering scheme that diverted over £138,924 (more than ₦270 million) from international airline accounts.
CSP Benjamin Hundeyin, command’s spokesperson, disclosed the arrests on Monday during a press briefing at the state police headquarters in Ikeja.
According to CSP Hundeyin, “The suspects conspired to siphon funds from domiciliary accounts into personal accounts before redistributing them to multiple destinations.
“The fraud was uncovered when the affected bank detected unauthorized transactions and alerted the police.”
Explaining further, the spokesperson said: “Subsequent investigations led to the arrest of the following suspects: Oluwatobiloba Olaleye, male, aged 27, was arrested on March 12, 2025, in Ogun State. A Toyota Camry 2012/2013, suspected to be a proceed of the crime, was recovered from him.
Oladunjoye Adegoke, male, aged 33, was arrested on March 13, 2025, in Victoria Island, Lagos. A Toyota Camry (Pencil Light), suspected to be another proceed of the stolen funds, was also recovered.
Further investigation led to the arrest of Austin Alfred, male, aged 38, the Supervisor of the Trade Services Department, and Jude Uzobuaku, male, aged 36, a processor in the same department. Both facilitated the illegal transfer of funds to foreign accounts.”
Police investigations revealed that the stolen funds were initially funneled into an account belonging to one of the suspects before being transferred to multiple other accounts, making it harder to trace. Authorities are now working to track down additional accomplices and recover the remaining funds.
“The suspects are in custody and will face prosecution as the investigation continues,” CSP Hundeyin stated.
News
Tony Elumelu Foundation Grants $15m to 3,000 African Entrepreneurs

Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 budding entrepreneurs from 52 African countries.
Tony Elumelu, founder, TEF, made this known on Sunday in Abuja during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme.
He stated that each beneficiary would receive a $5,000 seed grant to kick-start their businesses.
Elumelu, who is also chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA), reaffirmed his commitment to empowering African entrepreneurs and transforming the continent’s economic landscape.
According to Elumelu, the foundation aims to democratise opportunity across the continent, fostering economic growth and providing young Africans with access to funding and mentorship.
“We had a vision that started in 2010; one that envisions a self-sustaining Africa, driven by the energy, vision, and resilience of young entrepreneurs.
“We understand the challenges they face in contributing to Africa’s economic transformation.
“If empowered and encouraged, these young Africans can drive meaningful change,” he said.
He noted that capital alone was not enough, highlighting the importance of business education, mentorship, and training in building successful entrepreneurs.
The entrepreneurship programme, which began in 2015, originally set out to economically empower 10,000 young Africans over 10 years, each receiving $5,000 in seed capital.
“This year marks the 15th anniversary of the foundation, and we have made a considerable impact across all 54 African countries.
“In the 21st century, Africa does not need aid; what it needs is investment in its youth,” Elumelu said.
Somachi Chris-Asoluka, chief executive officer (CEO), TEF, noted that since the programme’s launch in 2015, the foundation had.disbursed over $100 million to more than 21,000 young entrepreneurs across Africa.
According to Chris-Asoluka, these businesses have collectively created 1.5 million enterprises, and generated $4.5 billion in revenue.
“Our entrepreneurs have demonstrated that ideas are the lifeblood of the African continent.
“For the 2025 cohort, we received over 200,000 applications, and from this pool, 3,000 entrepreneurs from 52 African countries will receive $15 million in funding.
“Each entrepreneur will receive a $5,000 non-refundable seed grant; this is neither a loan nor equity,” she stated.
She further assured that the foundation had a monitoring and evaluation platform in place to track progress after disbursement, ensuring that beneficiaries adhered to their approved business plans.
- Broadcasting2 days ago
NGO Blasts MultiChoice for Tariff Hike in Nigeria, Slash in South Africa
- E-Business2 days ago
Otti, Abia State Gov Promises Internet Access for all Abia Communities in 9 Months
- News2 days ago
NIPOST Explains Clamping Down on Illegal Logistics Services in Enugu
- News2 days ago
NESREA Urges Nigerians to Dispose Batteries Properly to Avoid Hazards
- Telecom2 days ago
Telcos Mull Introduction of Different Tariff Plans for Different States
- E-Financial2 days ago
CITN Seeks AI to Curb Revenue Leakage in Nigeria’s Tax System
- News2 days ago
Tony Elumelu Foundation Grants $15m to 3,000 African Entrepreneurs
- E-Financial2 days ago
SEC Declares War on Capital Market Fraudsters