‘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

NPW: Future of Retirement Security Depends on Early Planning-PenCom DG

Ms. Omolola Oloworaran, Director-General, National Pension Commission (PenCom) says...

Stanbic IBTC Pension Managers Supports PenCom’s Inaugural National Pension Week 2026

Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC...

RMB Strengthens China–Africa Corridor with Opening of Beijing Advisory Business

  Building a bridge for China-Africa, connecting Chinese capital,...

Ecobank Advances Youth Innovation as Top 20 InnovateX Finalists Emerge for N20m Prize Pool

Ecobank Nigeria has announced the Top 20 finalists for...

Ecobank Advances Youth Innovation as Top 20 InnovateX Finalists Emerge for N20m Prize Pool

Ecobank Nigeria has announced the Top 20 finalists for...

Topics

‘Oil Price to Rise 4% in 2018’- World Bank

Oil prices are forecast to rise to $56 a...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Nigeria Sustains Slow Progress in Human Development

In the week, there were multiple data releases that...

Nigeria Unveils New Airline, Nigeria Air

The Federal Government yesterday unveiled a new national airline,...

African Airlines Record 31% Cargo Growth in April 2021

African airlines’ cargo demand in April increased 30.6% compared to...

Nestle Nigeria Plc: Strong Revenue, Recovery of Gross Margin in Q2-18

According to Cordros Capital, NESTLE reported 56.9% y/y EPS...

Kogi State to Host GOCOP 2024 Conference on Power, Insecurity, Digital Economy

The Guild of Corporate Online Publishers (GOCOP) will hold...

Leadway Holdings Acquires PAL Pensions to Strengthen Footprint in Pension Sector

Leadway Holdings Limited, one of Nigeria’s foremost and most...