Saturday 4th June 2016

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IATA: Airlines May Boycott Nigeria, Other Countries with Trapped Funds Venezuela, $3.780 billion; Nigeria, $591 million; Sudan, $360 million; Egypt, $291 million; Angola, $ 237 Domestic operators urge govt to address Forex constraints facing domestic carriers

Chinedu Eze The International Air Transport Association (IATA) yesterday hinted that foreign airlines may

withdraw services in Nigeria and other countries where their revenues were trapped unless they urgently release the trapped money put at about $5.1 billion.

Outgoing Director General and CEO of IATA, Tony Tyler has therefore called on the five concerned governments to urgently address airline blocked funds because the

operators face repatriation problems. IATA urged the governments to respect international agreements obliging them to ensure airlines are able to repatriate

their revenues. "Air connectivity is vital to all economies. The airline industry is a competitive business operating on thin margins. So, the efficient repatriation of

revenues is critical for airlines to be able to play their role as a catalyst for economic activity. It is not reasonable to expect Continued on page 6

NJC Retires Justice Ebuta Over Alleged Misconduct ...Page 11 Saturday 4 June, 2016 Vol 21. No 7710 Price: N250

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FG Orders Banks, Financial Institutions to Suspend Further Retrenchment Paul Obi in Abuja As economic downturn hits the nation harder, the federal government, yesterday, directed all banks and financial institutions

to suspend staff retrenchment. Minister of Labour and Employment, Chris Ngige issued the directives yesterday. He said: "Following the high spate of petitions and complaints from stakeholders

in the Banking, Insurance and Financial Institutions, I hereby direct the suspension of the on-going retrenchment in the sector pending the outcome of the conciliatory meetings in the industry.

"This is as a result of the apprehension by my office of the various disputes in the sector in accordance and in compliance with the provisions of the labour laws of Nigeria. "This decision is further

predicated on the fact that the continued retrenchment and redundancy by the banks and other financial institutions are jeopardising the outcome of the conciliatory and mediatory processes being undertaken by

the Ministry of Labour and Employment. "In this wise, all the retrenchments and redundancies done in the last four months and all Continued on page 6

Buhari Holds Secret Meeting with Jonathan, Niger Delta Tops Agenda Consults Obasanjo Fresh attack on Forcados pipeline worsens power supply Ijaw leaders meet in Warri Okowa condemns killing of soldiers

Yemi Adebowale and Ejiofor Alike in Lagos; Sylvester Idowu in Warri; Tobi Soniyi; Omololu Ogunmade in Abuja and Omon Julius in Asaba

President Muhammadu Buhari has stepped up efforts to find a lasting solution to the renewed militancy in the Niger Delta by holding a private meeting with former President Goodluck Jonathan on Thursday night at his residence in Aso Rock, Abuja. As a follow up to the meeting with Jonathan, Buhari also met with former president Olusegun Obasanjo yesterday at the Presidential Villa. The meeting with Obasanjo came on the heels of fresh attack on Forcados pipeline by the Niger Delta Avengers (NDA). The destruction of oil facilities in the region by the militants had crippled Nigeria’s crude oil production and power supply, with crude production recovering from a loss of 1.1 million barrels per day to about 1.6 million barrels per day. By yesterday, power generation had Continued on page 6

DANGOTE GIVES BACK TO ILE OGUN

L-R: Minister of Power, Works and Housing, Mr Babatunde Fashola; Ogun State Governor, Ibikunle Amosun; President/Chief Executive, Dangote Group, Alhaji Aliko Dangote; former governor of Ogun State, Chief Olusegun Osoba; and Chairman of Forte Oil Plc, Mr Femi Otedola at the commissioning of 26km Itori-Ibese concrete road in Ogun State constructed by Dangote Industries ‌yesterday

Fraudsters Demanding Money to Negotiate Release of Chibok Girls, Says Buhari...Page 10


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Saturday 4th June 2016 by THISDAY Newspapers Ltd - Issuu