‘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

11 Poets Chase $100,000 Prize as The Nigeria Prize for Literature Unveils 2026 Poetry Longlist

Eleven outstanding poetry collections have emerged on the longlist...

CBN Gov, Yemi Cardoso, to Speak at Business Journal Fintech & Financial Inclusion Roundtable 2026

Mr. Olayemi Cardoso, Governor, Central Bank of Nigeria (CBN)...

Leadway Assurance Champions Insurance Adoption in Nigeria’s Creative Sector

Leadway Assurance, Nigeria’s leading insurance services provider and a...

Dangote Refinery Completes Landmark $2.5bn Private Equity Placement

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully...

NGX Chair: Africa Has a Unique Opportunity to Participate, Shape Global Financial System

The talking points by Dr. Umaru Kwairanga, Group Chairman,...

Topics

Ecobank Customers Now Enjoy Zero Charge for Digital Money Transfers Below N5,000

    Patrick Akinwuntan Managing Director Ecobank Nigeria Plc Ecobank Nigeria says its customers...

Sovereign Trust Insurance Reports 23% Growth in Revenue in 2023

Sovereign Trust Insurance Plc recently released its 2023 audited...

Inside Buhari ‘s N7.298tr 2017 Budget of Recovery

President Muhammadu Buhari yesterday presented a N7.298 trillion 2017...

Sterling Bank Alleges Exploitation of National Assembly, Police Force CID in Business Dispute

Sterling Bank Limited, has petitioned the Inspector General of...

Sovereign Trust Insurance Participates at NCRIB Market Storm Project

L-R: Femi Oduwole, MD, Leverage Insurance Brokers, Tope Adaramola,...

CBN: ‘Old N200, N500, N1000 Banknotes Remain Legal Tender Till Dec 31’

  The Central Bank of Nigeria (CBN) released an official...

NDSF’24: Nnamani to Speak @Internet Governance for Development

The Chief Executive Officer (CEO) of the most interconnected...