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Capt. Fola Akinkuotu Emerges Substantive CEO Aero

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Mr. Adeniyi Adegbonmire, the receiver manager,  has appointed Capt. Fola Akinkuotu as substantive CEO for Aero Contractors, as part of the second phase of the restructuring process of the airline.

According to Adegbonmire, the second phase of the intervention was to appoint a CEO after 15 days of the tenure of Tunde Fagbemi of Springfountain, the Receiver Manager Representative (RMR).

Capt. Fola Akinkuotu, who was the director general of the Nigerian Civil Aviation Authority (NCAA) between August 2013 to March 2014, takes over with immediate effect, following a brief intervention led by the RMR.

Fola Akinkuotu is a pilot, as well as flight and aircraft engineer. He was responsible for the start up and running of IRS Airlines as pioneer Managing Director/COO. Thereafter he was part of the start up team for Arik Airlines.

Capt. Fola Akinkuotu was Technical Pilot and Training Manager for Virgin Nigeria, NCAA designated Type Rating Examiner becoming the Director Flight operations and later Executive Director International Operations in Virgin/Air Nigeria.

In addition to his technical skills, he has extensive administrative experience as, founding Rector/CEO of the International Aviation College Aviation Ilorin, before becoming the Director General of the Nigeria Civil Aviation Authority (NCAA).

With over forty, 40, years experience in the aviation industry, he has held previous senior management positions in a number of airlines.

Starting out as an aircraft engineer, where he was in charge of the Presidential fleet, he then qualified as pilot and flight engineer turbo jet.

He has over 13000 hours of jet time flying in commercial airlines. In 1998, he was entrusted with the honour of flying Pope John Paul II in Nigeria during his pastoral visit to Nigeria.

Capt. Fola Akinkuotu is a qualified Licenced Aircraft Engineer, (Airframe and Engines), Airline Transport Pilot Licenced with type ratings on several commercial jet airplanes, Turbo Jet Licenced Flight Engineer and Associate Member of Society of Licensed Aircraft Engineers and Technologists with Certificate in Total Quality Management from Lagos Business School and Type Rating Instructor B737 from Oxford Aviation Academy, United Kingdom.

Capt. Akinkuotu said he is pleased to be given the opportunity to turn around Aero Contractors, adding: “AMCON has given us a lifeline which is an opportunity for us to succeed. This option is a huge opportunity we must take as there’s no other option. I believe we can make Aero Contractors a success story.

“Aero is a premium Nigerian legacy brand, and I am determined to ensure that this airline continues to serve the Nigerian market efficiently, reliably and with its safety record intact.”

Following a high court order obtained by Asset Management Corporation of Nigeria, (AMCON), a Receiver Manager Representative, Tunde Fagbemi of Springfountain was appointed February 5, 2016 to begin the process of turning around the Aero Contractors with a view to handing over to a substantive CEO.


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General News

Nigeria Police suspends tinted glass permit enforcement over court injunction

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Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Nigeria Police suspends tinted glass permit enforcement over court injunction

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The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.

An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.

Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.

The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.

IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.


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NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

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Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.

According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.

The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.

Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.

He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.

Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.

In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.

Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.


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T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

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T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.

NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.

Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”

The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.

Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.


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