The Airline Operators of Nigeria (AON) has asked the Federal Government to address granting multiple destinations to foreign airlines at the expense of the local operators or face litigation.
The disclosure was made by the President of AON, Alhaji Yunusa Abdulmunaf, who was represented by Mr Allen Onyema, the Vice President of AON, at the Group’s First Quarter Breakfast Business Meeting in Lagos on Thursday.
The group revealed plans to sue the Nigerian Government if it’s demand is not met, according to NAN.
What the AON said:
During the event themed ‘Economic Implications of Multiple Entry Points by Foreign Airlines Into Nigeria’ the association said, it will sue the FG if the multiple entries granted to airlines was not addressed.
He said, “We are talking about the scarcity of foreign exchange in the country, but the foreign airlines are removing billions of dollars every year from this country.
“Whereas, airlines in the country have been hassled with lots of requests on how to repatriate dollars into the system. Where am I going to get it from?
“Yet, we are creating more avenues for these things to happen by giving multiple destinations to these foreign airlines.
“All the foreign airlines that come to this country, maybe about 20 or 30 of them have not been able to employ more than 150,000 Nigerians.”
AON stated that Air Peace employs over 4,000 Nigerians, citing that foreign airlines will take 60 years of operating in Nigeria to employ such number.
Dr Gabriel Olowo, President of ART, said “The damages of multiple entries into Nigeria is huge. Britain for instance has 21 flights into Nigeria weekly.
“European Unions have 43 frequencies every week into Nigeria. Also the Middle East has 56 flights weekly into multiple entries into Nigeria” adding that the local sector has been negatively impacted by foreign competition.”
Recall Naijaonpoint reported in February that The Joint National Assembly Committee on Aviation warned that if local airlines are no longer able to manage their fleet and stop flight delays, it will invite foreign airlines to run the domestic services.
... Why Nigerian Airline Operators may sue FG over multiple destinations Read More on ... Naijaonpoint.
Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products
The Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto products.
The Securities and Exchange Board of India (SEBI), the country’s securities and commodity market regulator, has proposed prohibiting public figures, including celebrities and sportsmen, from endorsing crypto products, Businessline reported last week. In addition, the regulator proposed requiring advertisers to disclose possible law violations.
SEBI recently shared its view on the subject with India’s Parliamentary Standing Committee on Finance when it was questioned about various crypto issues, sources told the publication. The regulator subsequently submitted a detailed written response to the committee.
The Indian Ministry of Finance also asked SEBI to give its view on the crypto advertising guidelines published in February by the Advertising Standards Council of India (ASCI).
SEBI reportedly wrote:
Furthermore, the securities regulator proposed that public figures be held liable for endorsing crypto products, which could violate certain laws, including the Consumer Protection Act.
In addition, SEBI suggested adding the following statement to the ASCI disclaimer: “Dealings in crypto products may lead to prosecution for possible violation of Indian laws such as FEMA, BUDS Act, PMLA, etc.”
ASCI’s crypto guidelines, which went into effect on April 1, state: “Since this is a risky category, celebrities or prominent personalities who appear in such advertisements must take special care to ensure that they have done their due diligence about the statements and claims made in the advertisement, so as not to mislead consumers.”
Meanwhile, the Indian government is working on the country’s crypto policy. Finance ministry officials have met with the International Monetary Fund (IMF) and the World Bank to discuss crypto regulation. India’s finance minister recently said that the decision on crypto regulation will not be rushed. Crypto income is currently taxed at 30% in India.
What do you think about SEBI’s view on prohibiting public figures from endorsing crypto products? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Sanwo-Olu Promises Justice for Sound Engineer David Imoh
By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has promised to ensure that the late Sound Engineer killed by a mob in the Lekki area of the state last week gets justice. The Governor gave this assurance through the Commissioner for Information and Strategy, Mr Gbenga Omotoso, in a statement issued on Monday night. […]