Business
Aviation ground handlers lift suspension on Max Air after debt negotiations, partial payment
The Aviation Ground Handlers Association of Nigeria (AGHAN) has lifted its suspension on services to Max Air, less than 24 hours after halting operations over unpaid debts.
The association said the decision followed progress in discussions with the airline, including the payment of a “substantial amount” of money out of its outstanding obligations to handling companies.
In a statement issued on Friday, AGHAN said the suspension was lifted after Max Air re-engaged with its members and committed to resolving its debt profile.
“We have to lift the handling suspension on Max Air after it commenced negotiations with our members and paid a substantial amount of money out of its debts,” the association said.
Ground handling companies provide critical airport services, including aircraft marshalling, baggage handling and ramp operations, which are essential to airline turnaround and safety compliance.
The development is coming just a day after the group withdrew handling services to the airline, citing prolonged unpaid debts it said have reached unsustainable levels and strained operations within the aviation support sector.
PREMIUM TIMES earlier reported that AGHAN withdrew its services from Max Air on Thursday over the debts estimated at N1 billion.
The association had accused the airline of failing to engage meaningfully in repayment discussions at the time, while other indebted carriers were said to be making settlement plans.
AGHAN noted that the action was necessary after repeated efforts to recover the debt failed, warning that the issue, if not addressed, could undermine safety and operational efficiency at airports.
Despite lifting the suspension, the association said the underlying financial pressure facing ground handling companies remains unresolved.
ALSO READ: Aviation Ground Handlers withdraw services from Max Air over alleged N1 billion debt
AGHAN said its members continue to operate under rising costs arising from equipment procurement, foreign exchange exposure and operational overheads, while awaiting payments from airlines.
“We agree that the operating environment is tough for all operators, but we are not equally exempted from the challenge,” the statement disclosed.
It added that aviation services operate as an interconnected chain, warning that financial distress affecting any segment could have wider implications for safety and service delivery.
“The aviation industry is a chain and not about the airlines alone. Others too play major roles in the ecosystem and they need to survive,” the association said.
HGL Real Estate Limited, a company with no significant digital presence, linked to billionaire tycoon Oba Otudeko, has acquired a 14.1 per cent stake in Lagos-listed hospitality provider Ikeja Hotel.
Ikeja Hotel “received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares,” according to a regulatory filing on Thursday.
Based on Thursday’s closing share price, the firm’s holding in Ikeja Hotel is valued at over N13.2 billion.
The share purchase places HGL Real Estate among the top seven shareholders of the company, second only to Oma Investments Limited, which occupies the pinnacle of the pecking order with a 25.8 per cent interest.
HGL Real Estate does not own or run a known website, which is odd for a company financially enabled to own shares worth several billion naira in another firm.
Even on the Honeywell Group Limited (HGL)’s website, HGL Real Estate is not mentioned anywhere among the subsidiaries, including among the group’s real estate subsidiaries, which comprise Anchorage Leisures Limited and Uraga Real Estate.
PREMIUM TIMES’ checks with the Corporate Affairs Commission, as well as the commission’s beneficial ownership register, did not return any information related to the company.
In May 2023, Honeywell Group announced the appointment of Kemi Adeoye, its chief financial officer, to the board of Ikeja Hotel as a non-executive director.
“As a member of the board, Mrs Adeoye will play a crucial role in representing HGL’s interest in the company and ensuring continued value creation for stakeholders,” Honeywell Group said at the time.
“HGL’s investment in Ikeja Hotel Plc is in line with its mission to create, build, and invest in great businesses that create enduring value and improve lives,” it added.
In 2022, Honeywell Group consummated a deal to sell its 71.7 per cent shareholding in Honeywell Flour Mills to Nigeria’s largest flour-maker, Flour Mills.
READ ALSO: Group petitions EFCC over N117 billion rice importation fraud
The enterprise value of the transaction was N80 billion.
Mr Otudeko served as the chairman of FBN Holdings (now First HoldCo) from 2012 until 2021, when he was ousted during a board shake-up by the Central Bank of Nigeria for his role in what the regulator described as a breach of corporate governance.
Insurance Meets Tech (IMT) has unveiled its inaugural “10 To Watch Insurance Innovators” ranking, recognising Nigerian insurance companies leading the industry’s digital transformation through technology-driven innovation and improved customer access.
The ranking, developed by Creato Urban, assessed insurers using two equally weighted criteria: digital transformation depth, which measures the sophistication of technology infrastructure and automation, and market impact, which evaluates how digital innovations improve accessibility and reach for policyholders.
Heirs Insurance Group emerged as the overall leader with a combined score of 89/100, earning praise for its digital insurance experience centre, AI-powered customer services, automated claims processing, and expansion of insurance access to more than three million Nigerians since 2021.
Leadway Assurance ranked second with 85/100, recognised for its enterprise-wide digital transformation strategy, AI-powered claims verification, and innovative products such as pay-as-you-go motor insurance. SanlamAllianz Nigeria placed third with 84/100, driven by its nationwide digital agent platform and same-day USSD-enabled claims service.
The remaining companies in the top 10 are Cornerstone Insurance Plc, CubeCover, Sovereign Trust Insurance Plc, Rex Insurance Limited, Enterprise Life Assurance Company Nigeria, Noor Takaful, and Zenith General Insurance Company Limited.
IMT also presented its inaugural “Most Promising Innovation Yet” recognition to emPLE for its cloud-based Data Lake platform, which aims to unify customer data across insurance operations and enable AI-powered underwriting, fraud detection, and embedded insurance services once deployed.
Speaking on the rankings, IMT Convener and Creato Urban Founder/CEO Odion Aleobua said the recognition reflects the Nigerian insurance industry’s gradual shift towards full digitalisation in line with regulatory expectations.
“This list indicates that the transformation of the Nigerian insurance industry is incrementally aligning with the growing demand for complete digitalisation of insurance services as required by NAICOM. The companies featured are taking the initiative rather than waiting for the industry to evolve,” Aleobua said.
The “10 To Watch” framework was developed by IMT’s editorial and advisory team to recognise insurers advancing technology adoption while expanding access to insurance across Nigeria. The announcement comes ahead of the fifth edition of Insurance Meets Tech, scheduled for September 18, 2026, at the Balmoral Convention Centre, Sheraton Hotel, Ikeja, Lagos.
The post Insurance Meets Tech Unveils Nigeria’s Top 10 Digital Insurance Innovators appeared first on Business Today NG.
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