General News
Air Peace Signs Multi-million Dollar Agreement with Boeing
Nigerian carrier, Air Peace, has signed a multi-million dollar agreement with aircraft manufacturers, The Boeing Company, for the purchase of 10 brand new B737 Max aircraft.
The agreement was signed on Thursday at the United States Consulate in Lagos by the Chief Executive Officer of Air Peace, Mr Allen Onyema and Boeing Sales Director for West and Central Africa, Mr Larry Tolliver.
Speaking at the ceremony, Onyema said each of the Max B737 aircraft cost $113 million, but Boeing was gracious to reduce it to an undisclosed amount for Air Peace following series of negotiations.
He said the procurement of the aircraft, which is the latest by Boeing, was being financed by Fidelity Bank and they would be deployed for Air Peace international operations.
According to him, the addition of the new planes, which will be delivered soon by Boeing, will increase Air Peace fleet to 37 aircraft in less than four years of operation.
Onyema said: “We have just signed an order for 10 B737 aircraft from Boeing. We are interested in creating employment for our people because one of the aircraft can create 500 jobs.
“We are trying to curb insecurity by creating job opportunities for our people. Air Peace currently has about 3,000 employees, and I believe that is part of our contribution to national development.”
He thanked the President Muhammadu Buhari-led administration for the support given to Nigerian airlines, noting that the anti-corruption campaign of the government had improved the confidence of the international community in Nigerian businesses.
Onyema, however, appealed to the government to find ways of establishing local refineries in order to reduce the high cost of aviation fuel which was affecting the operations of airlines in the country.
Also, the US Consul General, Mr John Bray, said the agreement between both companies would further deepen the relationship between Nigeria and the US.
Bray said it was a win-win situation for both countries because the deal would create about 3,000 jobs in Nigeria while about 5,000 jobs in the manufacturing sector would be created in the US.
On his part, Tolliver said the B373 Max aircraft was the fastest aircraft manufactured by Boeing and consumes about 40 per cent less fuel than other Boeing aircraft currently being used by Air Peace.
He said the aircraft also had passenger appeal because of the modern facilities onboard, stressing that Boeing would be supporting Air Peace with training and maintenance spares as part of the agreement.
Speaking on the financing of the procurement, the Managing Director of Fidelity Bank, Mr Nnamdi Okonkwo, said Air Peace had proven its integrity in previous loans given to the airline by the bank.
He said: “We are proud to have Air Peace as a customer because the airline has integrity and has always paid ahead of time in previous aircraft purchases financed by Fidelity Bank.
“I know some airlines have gone down in the past due to huge indebtedness to banks, but I can tell you that Air Peace is not owing anybody, and this is because of the prudence of the airline’s management. ”
The Federal Government has granted approval to Air Peace to begin flights to six international destinations which are London, Dubai, Sharjah, Guangzhou-China, Mumbai and Johannesburg in the next few months.
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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