Connect with us

Business

Wigwe: NSIB collaborates NTSB to investigate helicopter crash

Published

on

The Nigerian Safety Investigation Bureau (NSIB) says it is collaborating with the National Transportation Safety Board (NTSB) to intensify investigation on the helicopter that caused the death of Dr Herbert Wigwe and five others.

Mrs Bimbo Oladeji, Director, Public Affairs and Consumer Protection, disclosed this in a statement on Monday.

The News Agency of Nigeria (NAN) reports that Wigwe, the Group Chief Executive Officer of Access Holdings, his wife, son and some others were onboard the ill-fated Airbus Helicopter EC130B4 helicopter.

The crash occurred on Friday, Feb. 9, at about 10:08 p.m. near Interstate 15 in Halloran Springs, California, while the NTSB confirmed the accident via its post on X .

It stated that it had dispatched its “Go Team” to investigate the accident.

The ill-fated helicopter, operated by Orbic Air, LLC as a Part 135 chartered flight, departed from Palm Springs, California, at 8:45 p.m. PST, enroute to Boulder City, Nevada, said Michael Graham, a board member of the National Transportation Safety Board, during a news conference on Saturday.

“Regrettably, the United States authorities have now confirmed that everyone onboard the aircraft lost their lives in the crash.

“The deceased are two crew members comprising a pilot in command and a “safety pilot” and four passengers namely Dr Herbert Wigwe, his wife, son, and Mr Abimbola Ogunbanjo, former Group Chairman of the Nigerian Exchange Group Plc, (NGX Group),

“In the aftermath of the accident, the Director-General, NSIB, Captain Alex Badeh, established contact with NTSB, in accordance with Chapter 5 subsection 27 of ICAO’s Annex 13 to the Convention on International Civil Aviation-Aircraft Accident and Incident Investigation, which grants a State (nation) special interest in an accident involving its citizens.

ALSO READ:  2024: Nigerian Ports Need New Economic Policy Reforms – Shipper

The section reads: “5.27 A State which has a special interest in an accident by virtue of fatalities or serious injuries to its citizens shall be entitled to appoint an expert who shall be entitled to.

“Visit the scene of the accident; have access to the relevant information which is approved for public release by the state conducting the investigation, and information on the progress of the investigation; and receive a copy of the final report,” the statement read.

It said that the ICAO’s Annex 13 to the Convention on International Civil, therefore, granted Nigeria, through the NSIB, the prerogative to appoint an expert to actively participate in the investigation.

“This participation ensures access to relevant information and facilitates cooperation with the investigating authorities, towards ensuring the investigation reaches a conclusive outcome.

“The ongoing discussion between the NSIB and NTSB has highlighted the diligent investigation efforts of the NTSB. NTSB investigators were present at the crash scene in Halloran Springs, California, on Saturday to collect evidence and conduct initial on-scene documentation.

“The documentation process included aerial mapping of the wreckage with a drone, and site measurements.

“Correspondence between the NSIB and NTSB further revealed that the NTSB investigation into the crash is being led by Aaron Sauer as the investigator in charge, supported by Mark Ward as the deputy investigator in charge.

“Several other NTSB investigators will also be examining various aspects of the accident including airworthiness and maintenance structures, operations, meteorology and air traffic control,” he said.

It also said that the airworthiness investigation group had initiated a meticulous examination of the debris field, which spans approximately 100 yards.

ALSO READ:  Ghana’s Inflation Drops To 52.8% Amid Lower Food Prices

The bureau noted, “All significant components of the helicopter, including the main transmission, engine, and various avionic elements, were identified and accounted for at the accident site.

“In tandem, the operations investigation group has commenced gathering crucial company information, including pilot records, flight dispatch records, and aircraft maintenance records.

“Moving forward, coordination is underway by the NTSB to transfer the wreckage to a secure location on Tuesday for in-depth examination and analysis scheduled.

“Parties to the investigation include Orbic Air, LLC, and the FAA. As the investigation continues, other parties could be named.

“Additionally, the Bureau of Enquiry and Analysis for Civil Aviation Safety (BEA), the French aviation accident investigation agency, will also serve as an accredited representative, due to France being the state of manufacturer for the Airbus helicopter and Turbomeca Engine.

“Both Airbus Helicopters and Turbomeca Engines will serve as technical advisors to the investigation.”

According to the statement, the duration of the accident investigation being conducted by NTSB is expected to take approximately 18 to 24 months to complete.(NAN)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Bayelsa Hits N4.2bn Monthly IGR, Credits e-Ticketing System

Published

on

The Bayelsa State Internal Revenue Service has announced a historic increase in the state’s Internally Generated Revenue hitting N4.2 billion in a single month, marking a 320 per cent surge from previous figures.

The development, disclosed in a statement by BIRS on Saturday, was attributed to the introduction of an electronic ticketing (e-ticketing) system, which has eliminated cash leakages, curbed corruption, and improved transparency in tax collection.

BIRS chairman, Daniel Eniekezimene,
stated that the government transitioned to a fully automated tax collection system, ensuring that all payments from transport operators, traders, and businesses go directly into state coffers.

Unlike the old manual system, the e-ticketing platform generates instant receipts, making transactions traceable and reducing opportunities for extortion.

“This is a turning point for Bayelsa. We have blocked revenue leakages and ensured that every kobo collected goes straight into government accounts,” Eniekezimene stated.

A commercial tricycle operator, Isaac Tamuno, described the shift as a relief.

No individual is bigger than PDP – Bayelsa gov
He stated, “Before now, we never knew where our money was going. But with this e-ticket, we get receipts instantly, and no one can cheat us. It’s a big change for us.”

The chairman said the surge in IGR is expected to fund critical infrastructure projects, education, and healthcare.

Speaking on the significance of the revenue jump, Governor Douye Diri said, “This unprecedented revenue growth means we can now invest more in roads, schools, and healthcare. Our administration is committed to ensuring that every Bayelsan benefits from these reforms.”

Bayelsa’s success with e-ticketing is already being touted as a model for other states struggling with low IGR.

ALSO READ:  Petrol to sell at N935 per litre from Monday – IPMAN

Eniekezimene emphasised the broader implications of the reform.

“What we have achieved in Bayelsa proves that technology is the way forward. Other states facing similar challenges should consider e-ticketing to improve revenue collection and accountability,” he stated.

Continue Reading

Business

Stock market declines further by N31bn

Published

on

Trading activities on the Nigerian Exchange Ltd. (NGX) on Thursday closed on a negative note, with the market capitalisation declining further by N31 billion.

Specifically, the NGX market capitalisation fell by N31 billion, or 0.05 per cent, to close at N66.109 trillion from N66.140 trillion recorded on Wednesday.

Also, the All-Share Index dropped by 0.05 per cent, or 49.26 points, to close at 105,426.12, against 105,475.38 posted the previous day.

The negative performance was attributed to reactionary behaviour exhibited by some investors.

The market breadth closed negative, with 29 losers and 23 gainers.

On the losers’ chart, John Holt declined by 10 per cent to close at N7.74, while Chams Holding dropped by 8.52 per cent to close at N2.04 per share.

Secure Electronic Technology fell by 8.42 per cent to close at 54 kobo, and May & Baker Nigeria lost 7.95 per cent to close at N8.10 per share.

Similarly, UPDC Real Estate Investment Trust declined by 6.90 per cent to close at N2.70 per share.

On the gainers’ chart, FG202031S1 rose by 12.09 percent to close at N97.52, while The Initiates Plc soared by 9.85 per cent to close at N4.46 per share.

Universal Insurance increased by 9.09 per cent to close at 60k, and Mutual Benefits rose by 9.09 per cent to close at 96 kobo per share.

Also, Royal Exchange gained 8.99 percent to close at 97k per share.

A total of 423.62 million shares, worth N9.181 billion, were exchanged across 11,393 transactions.

This is compared to 5.760 billion shares, worth N342.605 billion, exchanged across 10,908 transactions recorded earlier.

ALSO READ:  Nasarawa to Commence Second Phase Distribution of Palliatives to Vulnerable Persons

Transactions in Access Corporation shares topped the activity chart, with 64.962 million shares worth N1.430 billion.

Zenith Bank followed with 41.504 million shares valued at N1.972 billion, while Fidelity Bank transacted 40.703 million shares worth N773.215 million.

Secure Electronic Technology sold 38.419 million shares valued at N20.832 million, and Tantalizers traded 31.503 million shares worth N89.914 million.

Meanwhile, Tajudeen Olayinka, Chief Executive Officer, Wyoming Capital and Partners, said that considering the recent impressive financial results released by United Bank for Africa and Zenith Bank, the stock market should have followed a positive trend.

Olayinka attributed the negative performance to reactionary behaviour from some investors who were not pleased with Zenith Bank’s dividend and reduced share price.

He further described this as mispricing and misjudgment by some investors. (NAN)

Continue Reading

Business

Senate Moves To Slash Data Prices, Calls For FG’s Intervention

Published

on

The senate has called on the federal government to take urgent action to address the rising cost of data services in the country.

During Wednesday’s plenary, lawmakers debated a motion sponsored by Asuquo Ekpeyong, senator representing Cross River south, highlighting the financial strain caused by recent hike in data tariffs.

Ekpeyong warned that the surge in data costs was a major setback for young Nigerians who depend on the internet for their livelihoods.

He argued that many young people use digital platforms for freelancing, e-commerce, content creation, and software development, making affordable internet access crucial to their economic survival.

“Telecommunication providers in Nigeria have recently increased the cost of data services by as much as 200%. A move that has placed significant financial strain on millions of Nigerians, especially young people who rely on the internet for their livelihood,” he said.

“Young Nigerians have embraced the digital economy, leveraging the internet for various income-generating activities including freelancing and remote work, direct marketing and social media management, e-commerce, content creation on various platforms, online training, software development, web design, mobile app creation, content creation of various platforms, online education, etc.

“The senate notes that young Nigerians have embraced the digital economy, leveraging the internet for their livelihood, leaving them heavily dependent on mobile telecommunications companies for internet access, and that the sudden and substantial increase in data cost threatens their economic survival and limits access to critical digital services.

“The senate is further concerned that the reasons provided by telecom providers for the data price hike, including high operational costs of favourable exchanges, are untenable, and appears that instead of addressing the root causes of the high cost of doing business in Nigeria, the burden is being unfairly transferred to end-users.

ALSO READ:  US condemns killing of Catholic Priest in Southern Kaduna

“Senate is aware that the high cost of doing business in Nigeria is driven by multiple challenges, such as increased operational risk and insurance costs.

“The senate believes that urgent government intervention is required to ensure that affordable internet access remains available to all Nigerians, particularly to the young Nigerians who are at the backbone of Nigeria’s digital economy.

“The senate accordingly resolves to urge the federal government to engage with telecommunication providers to review the recent increase in data costs and ensure the pricing remains fair and affordable for all Nigerians.”

The motion was seconded by Titus Zam, senator representing Benue north-west, and received the support of other lawmakers.

Victor Umeh, senator representing Anambra central, criticised not just the rising cost of data but also increases in telecom charges and Pay TV tariffs, accusing regulatory bodies of failing to protect Nigerians.

“If you buy airtime or data, within minutes, you are out of it. Nigerians are suffering so much, and we cannot turn a blind eye,” he said.

Sadiq Umar, senator representing Kwara North, warned that the price hike disproportionately affects young people, who form a significant part of Nigeria’s workforce.

“These service providers must make life easier for young Nigerians, not harder. The government needs to step in before this situation worsens,” he said.

Lawmakers urged the federal government to engage telecom providers to review and reduce the recent increase in data costs.

They also called on the ministry of communications, innovation, and digital economy to develop a policy framework for affordable internet access.

ALSO READ:  Petrol to sell at N935 per litre from Monday – IPMAN

Lawmakers further recommended the creation of tech hubs across the country to provide free or subsidised internet for entrepreneurs, students, and innovators.

They also directed the senate committee on communications to investigate the factors driving high data costs and propose solutions to make the telecom sector more business-friendly.

Following the debate, Senate President Godswill Akpabio put the motion to a vote, and it was unanimously adopted.

Akpabio praised Ekpeyong for raising the issue, saying the intervention would support young entrepreneurs and ensure fair pricing in the digital economy.

“This motion, when implemented, will assist our young entrepreneurs, not only to remain in business but also to ensure that they have affordable pricing that allows them to generate profits,” he said.

Continue Reading