The continuous disagreement between Asset Management Corporation of Nigeria and the shareholders of Arik Air, since the takeover of the Airline six years ago, is affecting investment in Nigeria. Nigerians are worried about the endless feud between the shareholders of Arik Air and Asset Management Corporation of Nigeria (AMCOM), as the situation is already affecting […]
Shareholders: Airline Valued $3.7bn in 2014, Request for Statement of Company’s Affairs Asset Management Corporation of Nigeria (AMCON) has exonerated the Arik Air Receiver Manager, Kamilu Omokide Alaba and insists that the founder of the airline, Sir Arumemi Johnson owed AMCON N240 billion and described him as a bully borrower. This was contained in a […]
Lack of competence and expertise have been attributed to why Nigeria’s prime airline, Arik Air became moribund under the management of Asset Management Corporation of Nigeria (AMCON) and went down from having 3, 258 workers in 2017 to 500 and from 27 aircraft to barely operating five currently. Arik Air was not only the biggest […]
The failure of the Asset Management Corporation of Nigeria (AMCON) to obey the court judgement of March 31, 2023 to render account of its operations in Arik Air since it took over on February 9, 2023 till date, has confirmed allegation that the agency might have grossly mismanaged the airline. In December 2021, the Founder of […]
Six years after the Asset Management Corporation of Nigeria took over the management of Nigeria’s major carrier, Arik Air, the court has ordered that the agency should give account of the period it operated the airline, a development that may lead to the return of the airline to its founder. On Wednesday, the founder of […]
