Aviation business, not only in Nigeria, is generally known to be a capital intensive one and strictly guided by international regulations as prescribed by the International Civil Aviation Organisation (ICAO).

Fidelity Bank

The ICAO recommended standards and Practices are to be referred to when dealing in aviation business, therefore, Nigeria being a signatory to ICAO should uphold international civil aviation standards and fulfill its obligations under the Convention on International Civil Aviation.

Numerous challenges, including high operating cost; fluctuating exchange rates; difficulties in aircraft repossession; perceived high-risk environment for international financiers and lessors, leading to stringent financing terms or reluctance to engage with Nigerian airlines, have really overwhelmed the sector.

Experts say international lessors often perceive Nigeria as a high-risk country due to factors like currency fluctuations and difficulties in aircraft repossession, making it harder for airlines to secure leases on favourable terms and encountering difficulties in securing financing for aircraft acquisition and maintenance.

“Despite its strategic location, burgeoning population, and role as West Africa’s gateway, Nigeria’s aviation sector struggles to attract investment and secure newer, fuel-efficient aircraft under favorable leasing terms.

According to analysts, domestic airlines continue to shrink in size ‘due to lack of adequate financing and sometimes lack of sincerity among many operators who are not disciplined enough to differentiate between operating funds from personal monies and in the mix they encroach into their capital. This is why many airlines find it difficult to offset their loans, and because of frivolous spending by many operator and other factors, the banks had it as a policy not to give credit facility to airlines’.

Fidelity Bank’s Midas Touch

Not many people were aware that while banks stayed away from the sector, Fidelity Bank placed a bet on Barrister Allen Onyema’s Air Peace brand over 10 years ago.

Air Peace began operations with seven aircraft consisting of three Dornier 328s and four Boeing 737-500. This initial fleet was notably larger than what some other airlines started with. The airline launched on October 24, 2014.

Despite their size and smallness, Fidelity Bank chose to stick with the airline. It provided fund to buy new aircraft from Boeing. In 2018, Dr. Allen Onyema signed an agreement with Boeing for 10 new aircraft, this was financed by Fidelity Bank.

Fidelity Bank provided the funds required for Air Peace’s growth and expansion. Air Peace has scaled up and is now the largest airline in West Africa by fleet and size.

The airline has also kept faith with Fidelity Bank by choosing to bank with it even in the face of multiple choices, currently.

No airline in Nigeria today comes close to Air Peace in terms of daily turnover and liquidity.

Onyema, who disclosed recently at a press conference to announce commencement of Abuja-London Heathrow flights, that the airline currently has 49 aircraft, 36 on outright purchase and four on wet lease, spoke of the financial integrity of the airline, adding that it has contributed to the feat of securing the coveted slot in Heathrow.

Speaking on maintenance and financial integrity of the airline, Onyema described its fleet maintenance as top notch, revealing that its partnership with Israeli Aerospace Service and OEM has also earned it international accolades. He added that Air Peace’s financial integrity has grown the confidence of other financial institutions in investment in aviation.

“The banking industry confidence has grown due to our financial integrity. Fidelity bank celebrated us recently, our financial integrity is the reason for our expansion, every Nigerian banks now wants to partner with us because we see borrowed money as other people’s money, they are depositors’ money, so we are prudent with it, banks don’t look over their shoulders when they are dealing with us”, he added.

On Sunday, April 21, 2024, Fidelity Bank hosted an evening in honour of Air Peace for achieving a historic milestone of being the first Nigerian airline in recent times to commence direct flights from Nigeria to London.

The dinner, which also coincided with the 10th year anniversary of the airline, was to be an opportunity to get together to celebrate Nigerian aviation giant and Chairman of the Air Peace Group, Dr. Allen Onyema, who had broken the jinx of Nigerian airlines in the international aviation space with its commencement of flights to London.

Making its debut flight to London on March 30, 2024, with a ticket price of N1.2 million while players in the space prior to March 30 had charged as much as N3 million, foreign airlines plying the route has since continued to drop their prices in order to remain competitive in the market.

Air Peace’ involvement in the international flight terrain has received lots of accolades from Nigerians at home and abroad and its strategic pricing is also a big win for Nigeria’s flying public as reduced flight cost gives Nigerians more liquidity to enjoy other pleasures they may wish.

Following on this, Fidelity bank’s evening in honour of Air Peace is a loud cheer in support of the airline.

According to Onyema, when the airline started operating in 2014, of all the financial institution within the country, only Fidelity bank was willing to support it through its teething period.

Onyema noted that the support gotten from the bank has been consistent through the years enabling him to fulfill his lifelong dream of job creation and empowerment of the average Nigerian.

“This bank (Fidelity) is the only bank that responded to us in the early days. They believed in us. People that earn hundred thousand a month, they give them loans. I call it our journey with Fidelity Bank”.

“Dr. Nneka Onyeali-Ikpe has just spoken about us, how we were there for them. But I also remember how she was there for us while she was an Executive Director with Fidelity. The team was always there when the road was very rough. Words have failed me because I didn’t know this day will come when an indigenous institution will be celebrating another indigenous institution. It is very encouraging.”

In her remarks at the event, the Managing Director and Chief Executive Officer, Fidelity bank, Dr. Onyeka Onyeali-Ikpe, stated that the celebration is well deserved as Air Peace has through financial discipline expanded its operational fleet and is going the extra mile to put Nigeria on the world stage.

“Today, we are celebrating one of ours. They started operations with a few aircrafts and today they have 24 aircrafts. My experience with them underscores what you call financial discipline. When you go through their accounts, you will not see personal spend.

“That is a lesson for everybody. We are here to celebrate them. This is a major milestone. We have supported them, no doubt, but they have also been very loyal to us. Because they have been a big fan for a very long time and all the big boys wanted them but Allen and his team said no.

Ibom Air

Fidelity Bank is also a part of the success story of Ibom Air as it was recently revealed by the erstwhile managing Director of the airline, Captain Mfon Udom that it was the lead financier for the acquisition of its Airbus A220-300 Series.

Speaking at the ceremony to officially receive the aircraft at the Victor Attah International Airport Uyo, Udom stated that “there are several Banks that are supporting Ibom Air, but this Aircraft in particular has been made possible by Fidelity Bank and Union Bank.’

“The significance of this ceremony today cannot be over-emphasized. I must thank Fidelity Bank because they have come in full force to support us. By 2026 we are going to be operating 18 aircraft and adding two new destinations to the routes of Ibom Air later this year, the aircraft will boost services on existing routes.

“My speech would be incomplete without acknowledging the role played by Fidelity Bank as the lead financier of the acquisition of Ibom’s Air’s Airbus A220-300 aircraft”, he stated.

Also speaking at the event, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, represented by Mr. Charles Nwoke, Executive Director, Risk Management, Fidelity Bank noted that “As the market leader in airline financing in Nigeria, Fidelity Bank is proud to support Ibom Air in this venture.

His words “The partnership reflects our commitment to being the bank of choice for the people of Akwa Ibom State. And we pledge to do more for our valued customers as we continue to pursue our corporate mandate of helping individuals to grow, businesses to thrive and economies to prosper.’’

Enugu Air

And the recently launched Enugu Air was also made possible with a strong financial support of Fidelity Bank.

Its Managing Director, Dr. Nneka Onyeali-Ikpe, described the launch of Enugu Air as a powerful affirmation that the nation’s aviation sector is major driver of Nigeria’s economic growth.

Speaking at the official launch of the Enugu Air held at the Akanu Ibiam International Airport, Enugu, she stated that ‘Fidelity Bank is proud to finance tomorrow’s opportunities today, noting that the bank’s support for Enugu Air aligns with its belief in aviation as a catalyst for growth’.

“It is an honour to join you today as we celebrate the official launch of Enugu Air. As the lead financier of this visionary project, our support for Enugu Air reflects our long-standing belief in aviation as a driver of economic growth, regional connectivity, and national transformation.

“At Fidelity Bank, we stand firmly behind its potential to unlock new corridors of opportunity by boosting tourism, accelerating commerce, and creating thousands of jobs across the Southeast. We are proud to finance tomorrow’s opportunities today, a powerful affirmation that ‘Tomorrow Is Here’ in Enugu State and across Nigeria’s aviation sector.” she stated.

CTC signing by Nigeria

Led by the Vice President, Kashim Shettima and Aviation and Aerospace Development Minister, Festus Keyamo, Nigeria recently signed the Cape Town Convention (CTC) Practice Direction in the aviation sector, aimed at reducing the cost of airline operations. This move is expected to facilitate aircraft leasing and financing, potentially leading to lower flight costs for passengers.

CTC is a treaty designed to facilitate asset-based financing and leasing of aviation equipment, expand financing opportunities, and reduce costs – thereby providing substantial economic benefits. It is believed that this move by government will continue to encourage Fidelity Bank to support more domestic airlines that have hitherto found it difficult to access funds for fleet and route expansion.

Africa Prudential Plc has launched Sabivest, a digital shareholder and investment management application, as part of efforts to deepen access to investment opportunities and enhance transparency in Nigeria’s capital market.

Unveiled in Lagos, the platform is designed to provide investors with a centralised system for managing shareholdings and tracking portfolio performance across multiple investment products.

At the launch, the Chairperson of Africa Prudential Plc, Christabel Onyejekwe, said the initiative reflects the company’s commitment to leveraging innovation to improve investor experience and participation.

“Sabivest provides a unified ecosystem that enables individuals and institutions to seamlessly access, monitor and grow diversified financial assets through a single interface,” she said, describing the platform as a significant step in advancing digital transformation within the capital market.

The Managing Director, Catherine Nwosu, noted that the application, which is available for download on both iOS and Android platforms, was developed to address structural challenges that have continued to limit investor efficiency, including fragmented investment accounts, restricted access to diverse financial instruments, and inadequate visibility into portfolio performance.

According to her, the platform aggregates multiple investment services, offering users real-time insights and control through a centralised dashboard.

She added that Sabivest features consolidated portfolio views, performance tracking, asset allocation insights, and electronic dividend management, alongside tools for monitoring, documenting, and recovering unclaimed dividends.

The launch also featured a roundtable session themed, “Building Trust and Driving Innovation in Nigeria’s Capital Market,” where stakeholders emphasised the importance of technology-driven solutions in strengthening investor confidence and expanding market participation.

Transnational Corporation Plc (“Transcorp Group” or the “Company”) (NGX: TRANSCORP), Africa’s leading listed conglomerate with strategic investments in power, hospitality and energy, has declared a total dividend of ₦20,323,995,148, representing ₦2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held at the new state-of-the-art Transcorp Centre Abuja.

Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend

The total dividend comprises an interim dividend payment of ₦4,064,799.030, representing 40 kobo per share, paid in August 2025, together with a final dividend of ₦16,259,196,118, equivalent to ₦1.60 per share.

At the AGM, where the shareholders approved the Audited Financial Statements for the year ended December 31, 2025, the Group Chairman of Transcorp Plc, Mr Tony O. Elumelu, CFR, restated the company’s commitment to delivering sustainable long-term value creation as shareholders commended the conglomerate and its management for sustained performance.

In 2025, the Group, with a combined market capitalisation of ₦4.78 trillion ($3.52 billion) as of May 7, 2026, recorded strong year-on-year growth across all key metrics. Revenue increased by 33% to ₦544 billion (FY 2024: ₦408 billion). Profit Before Tax rose 31% to ₦179.5 billion (FY 2024: ₦136.7 billion), while Profit After Tax surged 44% to ₦135.9 billion (FY 2024: ₦94.1 billion)

Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend

Mr. Tony O. Elumelu, CFR, Group Chairman, Transnational Corporation Plc said: “Transcorp Group remains firmly focused on strong corporate governance and the disciplined execution of its strategic priorities to deliver sustainable, long-term value. Despite a challenging macroeconomic environment, the Group continues to benefit from its diversified portfolio, which has underpinned resilient financial performance in 2025.

Mrs. Owen D. Omogiafo, OON, President/Group CEO, Transnational Corporation Plc said: “FY 2025 was a year defined by disciplined execution, strategic resolve, and resilient performance. Transcorp Group is committed to resolving the energy crisis in Nigeria; we have an energy situation, and the gap between the demand and supply is still very wide. Hence, we will continue to work assiduously and tirelessly towards bridging that gap, creating value for the wider country.

In our hospitality business, the 5,000-seat capacity Transcorp Centre hosting us today is a testament to our disciplined execution, and you will see more in the coming years.

While commenting on the performance, one of the shareholders, Mrs E. O. Obideyi, commended the management of Transcorp Group, saying, “I commend the management and staff of Transcorp for sustained performance year-on-year. While we appreciate the Board, I am also extending my commendation to the members of staff of Transcorp for a job well done.”

Another Shareholder, Mr Moses Igrude, commended the Board, Management and Staff of Transcorp Plc. He said: “I appreciate the vision behind Transcorp and what it has become. When I look at the history, and how far it has come under Mr Tony Elumelu’s leadership, I am proud that the aim and objectives are being achieved. That payoff line, ‘Improving lives and transforming Africa,’ is a reality we are witnessing.

Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading listed conglomerates, with strategic investments in power, hospitality and energy, driven by its mission to improve lives and transform Africa.

The Group’s power businesses — Transcorp Power Plc and Transafam Power — provide over 20% of Nigeria’s installed power capacity. Transcorp is also advancing Nigeria’s domestic energy value chain through its investment in OPL281. Its hospitality subsidiary, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja and the landmark Transcorp Centre Abuja.