General News
Air Peace Recognised as National Carrier
Nigeria’s Ambassador to the United Arab Emirates (UAE), Mr Mohammed Rimi, announced in Dubai on Sunday that Nigeria’s Bilateral Air Services Agreement (BASA) with UAE recognises Air Peace as Nigeria’s flag carrier on the lucrative Lagos-Dubai air route.
“Air Peace is now recognised as a national carrier, based on the BASA and whatever the airline is doing will be linked to Nigeria,’’ the envoy said at a ceremony to formally welcome Air Peace to the Arab nation.
He, however, warned the airline to avoid anything that could tarnish the image of Nigeria, while servicing the route, advising the company to ensure on-time flight services to sustain confidence and patronage.
Air Peace commenced flight operations from Lagos to Dubai en route the Sharjah International Airport in Dubai on July 5.
The ambassador recalled that some Nigerian carriers had previously serviced the Dubai route but could not sustain their operations, due to competition and other factors.
Rimi assured that Nigeria was keen to meet the terms of its BASA deal with the UAE, pointing out however, that Nigeria had yet to service four slots in the air services agreement with the Middle East nation.
The Chairman of Air Peace, Mr Allen Onyema, said the airline’s foray into long-haul flights was aimed at connecting Nigeria to the world and creating jobs for its teeming populace.
“In less than four years, Air Peace has created 3,000 direct jobs and over 9,000 ancillary jobs for Nigerians and that is what is driving us.
“We believe that if more Nigerians are meaningfully engaged, the problem of kidnapping, militancy and ethnic violent clashes will reduce in our country.”
According to Onyema, the airline is targeting to increase its B777 aircraft being deployed for long-haul flights to six before the end of the year to accommodate more routes.
He said that flights from Lagos to Johannesburg would come before the end of August while Guangzhou, Mumbai, London and Houston routes were also being planned.
Onyema said that Nigeria’s BASA with UAE and other countries were one-sided and had left Nigeria open to exploitation by foreign airlines.
He said the Federal Government should protect domestic carriers by halting the granting of multiple entry points for foreign airlines.
The Air Peace boss commended the Federal Government for the support being given to the airlines, citing the removal of value-added tax and waivers on aircraft spares.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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