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CitiBank promises more support for aviation sector

By BusinessNews Staff on May 11, 2015

Citibank Nigeria Limited says it will increase its support for the aviation sector in order to speed up the growth of the industry.

The United States-based lender said this was why it recently sponsored an aviation forum under the theme ‘Leveraging global banking trends for smart aviation in Nigeria’.

The programme had about 40 top executives from various airlines and regulators in attendance where Citibank enlightened on important banking trends and best practices that could improve the nation’s aviation.

The bank in a statement quoted its Managing Director and Chief Executive Officer, Mr. Omar Hafeez, as saying that the lender would continue to improve the standard of aviation banking services in Nigeria to the benefit of all players in the industry.

According to the statement, the Chief Operating Officer, Citibank Nigeria, Mr. Akin Dawodu, gave a macro overview on the recent market events in relation to the Nigerian economy.

He was quoted as speaking on the latest changes in the regulatory framework for foreign exchange transactions and provided an outlook for likely economic trends in the rest of 2015.

The Area Manager for South-West Africa, International Air Transport Association, Mr. Samson Fatokun, was quoted as saying that, “IATA has been the backbone of aviation training in Nigeria.”

He also confirmed that the global organisation had standardised the downstream sector of the aviation industry in Nigeria through the activities of its Billing and Settlement Plan, which had recorded the participation of over 700 Nigerian travel agencies.

A representative of the Director-General, Nigeria’s Civil Aviation Authority, Mr. Peter Adeola, provided the regulatory input from the aviation sector.

He assured the audience that adequate measures were in place by the NCAA to ensure that compliance and best safety standards would be implemented in the nation’s aviation industry

[Punch]

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