Nigeria: preparing a mega airline: Nicon Airways
The Managing Director, Dr. Yele Akinrolabu and his team is about concluding a deal to acquire a leading airline in Nigeria to boost its operation. In the next few months, NICON Airways is expected to be one of the country’s top domestic commercial airlines.
The Nigerian Government participates in insurance business through NICON Insurance Corporation and Nigerian Reinsurance corporation.
Nicon was upto privatisation.
Do not mix with the Nigerian National Insurance Commission (NAICOM).
*National Insurance Corporation of Nigeria (NICON)
http://www.niconinsurance.com.ng/html/Products&Ser.html
Airlines in Nigeria desirous of operating local routes were asked to have a minimum capital base of N500 million, N1 billion for those that are to ply the regional routes and N2 billion for airlines eyeing international routes.
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