‘AMCON Killed AERO Contractors’

A senior management staff of Aero Contractors has alleged that the Asset Management Corporation of Nigeria [AMCON] was the brain behind the recent indefinite suspension of scheduled air services by Aero Contractors, the nation’s second largest airline.

The official alleged that the management of AMCON connives with the former management of Aero to siphon vital revenue from the airline, making it difficult for Aero to meet basic day-to-day operational needs.

The Aero top management staff told Business Journal: “If you want to know what happened to Aero, go to AMCON because the AMCON people were working with former management of Aero to siphon funds meant for the running of the airline. It is an open secret at the airline but nobody could speak up to avoid being sacked. Buhari cannot be fighting corruption without looking at AMCON. They are more corrupt than the politicians the EFCC is running after. I can tell you clearly that AMCON killed Aero Contractors.”

Business Journal made spirited efforts to reach Mr. Jude Nwauzor, Head of Corporate Communication at AMCON for clarification on the allegation. He did not respond to phone calls and SMS sent to his phone line.

Hot this week

Emmanuel Okpanachi: Building the Technology Behind Africa’s Next Generation of Events

Africa’s events industry is growing rapidly, but the technology...

SEC, Meristem Collaborate to Curb Unclaimed Funds, Strengthen Investor Protection

Head, Monitoring & Enforcement Department Securities and Exchange Commission,...

President Tinubu, NGX Group Advance Capital Market Agenda to Accelerate Nigeria’s Trillion-Dollar Economy

President Bola Ahmed Tinubu has reaffirmed the Federal Government’s...

AIICO Retains Composite Licence Without Capital Raise, Posts Solid Q2 Performance

Mr. Olusegun Omosehin, Commission for Insurance/CEO of the National...

CIIN Unveils 2nd Edition of Courts’ Judgments on Insurance, Related Cases in Nigerian Courts

Chartered Insurance Institute of Nigeria (CIIN) announces the release...

Topics

Guinness Nigeria Sweeps 7th Edition of The Industry Awards, Named Most Outstanding Company in Sustainability

L-R: Olukemi Ogunsakin, Head, Corporate Communications, Sustainability & CSR,...

Why Brands Should Take Media Monitoring Serious in 2023

By Queen Nwabueze Please allow. Let's start this article by...

Seplat, FDI and the Rule of Law

  Roger Brown Chief Executive Officer SEPLAT By Onikepo Braithwaite It is our hope that...

Maersk Accelerates Transformation, Earns $39bn in 2018

Progress on the transformation of A. P. Moller -...

NCC Donates Four CBT Centres to JAMB

In order to augment facilities for smooth conduct of Computer Based Tests (CBT) by the Joint Admission and Matriculation Board (JAMB), the Nigerian Communications Commission (NCC) has built and donated four of such centres to the examination board. This was disclosed recently by Acting Executive Vice Chairman (EVC), Prof. Umar Danbatta, when JAMB officials paid him a courtesy visit in Abuja. The four centers are located in Kano, Niger, Bayelsa and Oyo states. The centres are equipped with computers, printers, other accessories and Internet connectivity.

How to Save up to 5% on Your Next Gift Card Purchase on PalmPay

We’re excited to announce that purchasing gift cards in...

PenCom: ‘We are Committed to Safety of N14.2tr Pension Funds’

The National Pension Commission (PenCom) said it is committed...

PwC Report: Real Estate Contribution to GDP Target N2.7tr by 2016

PricewaterCoopers (PwC) has projected the contribution of real estate to the country’s Gross Domestic Product (GDP) to grow by almost N3 trillion in 2016. The accounting firm however said this is dependent on the right environment, which include adherence to global best practices in the sector, transparency and timely delivery on project execution, among others. The sector currently contributes about N1.8 trillion to the GDP. “Going by PWC revelation and the quest to meet the vision 2020 target, a lot needs to be done towards improved public infrastructure to drive the required positive change in the real estate and facilities management industry, in addition to improving the living condition of the average Nigerian.