Business

‘Patently false’ — Arik Air debunks allegations of paying $40m duty waiver to customs

Published

1 year ago

October 8, 2023 7:11 am

BodexNG

Arik Air has denied allegations of paying $40 million duty waivers to the Nigeria Customs Service (NCS) as well as the illegal sales of three aircraft.

A recent report had alleged that the airline abused the duty waiver policy, adding that the firm illegally sold some aircraft and aircraft parts with fake documents.

Responding in a statement on Saturday, the airline said the allegations of misapplication of import duties and illicit sale of aircraft are “without merit and is patently false”.

The airline said the “click-bait of $40 million duty waiver” should be ignored, adding that the duties are paid in naira.

Arik Air (in receivership) said the use of inflated and unsubstantiated sums in newspaper headlines has been part of a strategy to tarnish its reputation.

“Arik is co-operating with the customs in respect of these allegations and they are being provided with comprehensive details of the Aircraft, which will demonstrate clearly that there has been no misdeeds on the part of the receivership,” the statement reads.

“The public is also advised to be wary of those who, if they cannot regain control of Arik, would rather kill it.”

The airline said all duty waivers granted to the firm before the receivership period, under the leadership of Johnson Arumemi-Ikhide, “were not properly documented and handed over to the receivership team as required by law”.

“It was Johnson who pledged various Arik Aircraft and engines to various local and international lenders, possibly in violation of the terms of the waivers,” the airline said.

“Arik’s financial struggles with local and foreign creditors have been well-documented, including enforcement actions against assets pledged to them, which may have enjoyed waivers.

“It is also worth mentioning that as at today, there is a complete duty waiver on commercial planes.”

THE N400 BILLION DEBT TO AMCON

In the statement, Arik Air also admitted that it remains indebted to AMCON to the tune of over N240 billion.

“Together with Rockson and Ojemai Farms, all companies owned by Johnson Arumemi-Ikhide, they are indebted to the tune of over N400 billion to AMCON. Rather than engage in fruitless campaigns of calumny, they should approach AMCON to pay their loans,” the airline added.

Providing further clarifications on the debt, the airline explained that it followed due convention and protocol, aimed at reducing risks for creditors, and consequently, borrowing costs to debtors, through the resulting improved legal certainty.

The aviation firm added that the Cape Town convention intends to give international assurance to the effect that where a debtor defaults in the payment of loans or leases over a plane, the creditor can easily take possession of the plane.

In a separate letter, dated June 24, 2014, Arik noted that an irrevocable de-registration and export request authorisation (IDERA) was issued by the Nigeria Civil Aviation Authority (NCAA) on the CRJ 900 aircraft.

“We assure the public that Arik is not a party to this. It is Johnson Arumemi-Ikhide that has done everything possible to prevent lenders from taking full benefit of their IDERA,” the airline said.

“Arik had paid lease sums directly to EDC in settlement of the loan obligations of JEM Leasing Limited to EDC, maintaining that Arumemi-Ikhide, on behalf of Arik (pre-receivership), had approached the federal government of Nigeria for a waiver of customs duty on the planes, which was granted.”

‘ILLEGAL SALE OF AIRCRAFT AND PARTS IS UNFOUNDED’

Arik also denied claims that it illegally sold aircraft and aircraft parts during the receivership period, describing the report as “baseless and unfounded”.

In June 2023, the airline announced the decision of JEM Leasing Limited, the owners of the CRJ 1000, and its financiers, to sell the aircraft.

Arik said the buyer of the aircraft had also decided to tear it down.

According to the statement, the aircraft — Q-400, CRJ-1000, and CRJ-900 — were acquired on loan by Arumemi-Ikhide through the Export Development Canada (EDC).

“EDC confirmed in a letter dated April 21, 2023, that they sold the two CRJ900 aircraft. The decision to sell was made by EDC, not the receivership team of Arik,” the airline added.

“Regarding the CRJ1000 aircraft, EDC negotiated with a buyer who chose to dismantle it into its constituent parts.”

Arik said the sale of the CRJ aircraft was a lender-led transaction, adding that it airline only exercised its rights to exit an unprofitable lease arrangement.

Business

Ghana’s inflation rises to 23.8% — highest in eight months

Published

1 day ago

January 9, 2025 2:34 pm

BodexNG

Ghana’s consumer inflation rate rose for the fourth consecutive month to 23.8 percent in December 2024.

Samuel Kobina Annim, government statistician at the Ghana Statistical Service (GSS), announced the figure to journalists in Accra on Wednesday.

Ghana’s inflation rate started rising in September last year, when it rose to 21.5 percent, then climbed further to 22.1 percent in October and 23 percent in November.

Annim said the inflation rate recorded at the end of last year was the highest in eight months.

“The rate of inflation… is the third highest in the last 13 months and highest in the last eight months,” Annim said.

Also, food inflation saw a significant jump, rising from 25.9 percent in November to 27.8 percent in December.

Annim attributed the increase to the contributions from specific food items, such as yams, showing drastic year-on-year price hikes of 63.3 percent.

He also highlighted the need for a dual approach to tackling inflation, addressing both monetary and real-sector issues.

“We do emphasise that there are two perspectives in addressing inflation. One is the monetary side… and the other is the real side, with what we’ve seen with food inflation, more particularly the food that we consume, that are locally produced,” he added.

Annim urged policymakers to focus on production, value chains, transportation, warehousing, and reducing post-harvest losses to stabilise food prices.

“Policymakers put in diverse interventions, rather than focusing on, let’s say, only exchange rate or focusing on just some selected items that do not cover the variety of food items that influence food prices,” he said.

Business

Governor Sanwo-olu signs N3.366trn 2025 budget

Published

1 day ago

January 9, 2025 1:58 pm

BodexNG

Lagos State Governor, Babajide Sanwo-Olu, on Thursday, signed the 2025 appropriation bill into law.

The Special Adviser on Media and Publicity to the Governor, Gboyega Akosile, made this known in a post on his X handle.

He said the budget size is N3.366 trillion meant for the continuation of the great works of the Sanwo-Olu administration.

Business

Italy extends work visa for skilled workers for 2025

Published

2 days ago

January 9, 2025 11:18 am

BodexNG

Italy is taking steps to address its significant shortage of skilled workers by keeping its Work Visa for Highly Qualified Workers program open for 2025.

The country, which is known for its rich culture, food, and history, has faced increasing demand in sectors such as IT, healthcare, and green energy.

These industries are crucial to Italy’s economic growth, and the government is working to meet these demands by attracting foreign talent.

Italy is making considerable efforts to improve its labour market by introducing a series of policy changes to simplify the visa application process, DAAD Scholarship reports. The country’s Work Visa program is designed to bridge the gap between the available talent and the growing need for highly skilled workers.

Italy’s work visa aims to address skill shortages

The Work Visa for Highly Qualified Workers aims to address the skill shortages in key sectors, including information and communication technology (ICT), healthcare, and renewable energy. By opening its doors to foreign professionals, Italy hopes to fill critical positions that are difficult to staff with local workers.

This program is expected to boost the economy by bringing in skilled professionals who can contribute to sectors vital to Italy’s long-term economic stability.

The visa allows skilled workers to live and work in Italy while helping the country meet its industrial needs. In 2025, the visa is seen as a way to attract experts from around the world who can fill gaps in sectors where there is a high demand for specialized knowledge and experience.

Key changes to Italy’s work visa policies for 2025

Significant changes have been made to the Italian Work Visa policies to streamline the application process and ensure faster processing times. One of the major updates is the increase in quotas for non-EU workers.

Last year, the Italian government raised the quota for work permits from 151,000 to 165,000. This adjustment reflects the increasing need for foreign workers across multiple sectors.
Another notable change is the introduction of digital processes to simplify the visa application. By March 2024, the Italian government implemented digital contracts and the use of certified email (PEC), which have reduced the need for in-person visits to immigration offices.
In July 2024, Italy also revised its EU Blue Card requirements, lowering the minimum work contract duration from 12 months to six months. Additionally, the salary threshold was adjusted to fall between 1 and 1.6 times the average gross salary in Italy.

The introduction of sector-specific permits for healthcare roles also occurred in October 2024. An additional 10,000 permits were introduced for family and social healthcare assistance positions to meet the growing demand in the healthcare sector.

Streamlined application process for 2025 work visa

The new application process for the Work Visa for Highly Qualified Workers in 2025 is designed to be faster and more accessible. The digital system allows employers to pre-fill applications for their workers, saving time and reducing paperwork.

The application process is simplified, with designated “click days” for submission, including February 5th, 7th, and 12th, 2025, depending on the applicant’s category, reports inform.

Once an application is submitted, both the employer and the applicant will be notified of the decision within a specified timeframe. Digital contracts and integration agreements also reduce the need for physical paperwork, further speeding up the process.

High-demand sectors for Italy’s work visa program

The Italian Work Visa for Highly Qualified Workers targets skilled professionals in several key sectors. These include:

ICT: Software developers, data analysts, AI specialists, and cybersecurity experts are highly sought after.
Healthcare: Nurses, physiotherapists, caregivers, and healthcare assistants are in demand.
Green Energy: Engineers focused on renewable energy are needed to help Italy meet sustainability goals.
Construction: Skilled laborers, engineers, and project managers are sought to address Italy’s infrastructure needs.
Hospitality: Chefs, hotel managers, and tourism professionals are needed to support Italy’s vibrant tourism industry.

Where to find jobs with visa sponsorship in Italy

For those looking to apply for the Work Visa for Highly Qualified Workers, several job portals can help candidates find employment in Italy. Some popular websites where job seekers can find roles with visa sponsorship include:

The program offers a valuable opportunity for professionals in high-demand sectors to contribute to Italy’s economy and enjoy living in one of Europe’s most attractive countries.

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others