In light of an ongoing operational audit by regulatory authorities, Dana Air has revealed that it has let go of certain employees.

The Head of Corporate Communications for the airline, Kingsley Ezen, disclosed the development in a statement on Saturday.

Dana Air emphasised that the audit, which is currently in progress, is a joint effort between the company and regulatory authorities to ensure strict adherence to all required standards and regulations.

“In light of the ongoing audit, Dana Air has made the decision to temporarily disengage some staff members pending the conclusion of the audit,” Ezenwa said.

“The Management of Dana Air extends its sincere appreciation to all staff members for their resilience and dedication during this period of uncertainty. It recognises the difficulties that staff have had to endure and assures them that every effort is being made to resolve the situation promptly,” it added.

Dana Air’s statement reiterated its dedication to working closely with the authorities in order to facilitate a seamless and prompt resolution of the audit.

The airline also assured all that it will continue to provide updates and assistance to its staff during this process.

Dana Air also has initiated discussions with lessors and is actively involving stakeholders in the ongoing progress.

“Dana Air therefore urges for calm and understanding from our very dedicated staff for their altruism and stakeholders,” the airline said.

In April, the Nigerian Civil Aviation Authority suspended the Air Operators Certificate of Dana Air, 24 hours after the airline’s plane coming from Abuja landed at the Lagos airport runway and veered off into a nearby field.

The Dana Air plane with registration number 5N BKI, had 83 passengers onboard. However, all the passengers and crew members disembarked unhurt.

Emergency responders and regulatory agencies immediately rose to the occasion and opened an investigation to unravel the real course of the incident.

While awaiting the outcome of the investigation by the Nigerian Safety and Investigation Bureau, the NCAA said it was important to audit the operations of the carrier.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has fined Binance, a popular cryptocurrency platform, $6 million for violating the country’s money laundering and terrorist financing laws.

According to international media, the fine is valued in Canadian dollars, bringing the total amount to USD4.38 million when converted.

In a recent statement on its website, FINTRAC said Binance had failed to register as a foreign money services business with the intelligence body.

“FINTRAC announced today [Thursday] that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance,” the statement reads.

“This foreign money services business was imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

“Binance Holdings Limited was found to have committed the following administrative violations: Failure to register with FINTRAC as a foreign money services business; and failure to report large virtual currency transactions of $10,000 or more in the course of a single transaction, together with the prescribed information.”

Commenting on the matter, Sarah Paquet, director and chief executive officer of FINTRAC, said the country’s anti-money laundering and anti-terrorist financing regime is in place to protect the safety of Canadians and the security of the nation’s economy.

“FINTRAC will continue to work with businesses to help them understand and comply with their obligations under the Act. We will also be firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed.”

Adjudged to be the largest cryptocurrency exchange by trading volume, Binance has been the subject of regulatory sanctions in some parts of the world.

On April 30, Changpeng Zhao, the founder of Binance, was sentenced to four months in prison for money laundering, unlicensed money transmitting and violations in Seattle, United States (US).

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has sealed Batoson Oil and Gas Ltd in Taraba state.

NMDPRA, in a statement on Thursday, said the fuel station was sealed for the diversion of 18 trucks of premium motor spirit (PMS), also known as petrol, between April 4 and May 5.

“Batoson oil and gas Ltd Mararaba Baissa Kurmi LGA, Taraba State. Station was sealed for diversion of 18 trucks of PMS between 04/04/24 and 05/05/24,” the regulator said.

The development comes amid a supply shortfall of petrol which has resulted in queues spreading at fuel stations across the country.

Amid the situation, some retail fuel outlets have been accused of hoarding the products.

On April 30, the Nigerian National Petroleum Company (NNPC) Limited said some individuals are taking advantage of the situation.

“Unfortunately, we experienced a three-day disruption in distribution due to logistical issues, which has since been resolved,” NNPC said.

“However, as you know, overcoming such disruptions typically requires double the amount of time to return to normal operations.

“Some folks are taking advantage of this situation to maximize profits.

“Thankfully, product scarcity has been minimal lately, but these folks might be exploiting the situation for unwarranted gain.”

On May 7, NNPC said queues for petrol have “thinned out” across the country.