‘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

WorldStage Business Forum Q2 2026: Prof. Baale Makes Case for Building World-class Nigerian Corporate Culture

L-R: Mr. Segun Adeleye, President/CEO, World Stage Limited; Prof. Lere...

Insurance Brokers Reaffirm Commitment to Local Content, Digital Innovation at SUPERNEWS Conference

Deputy President of the Nigerian Council of Registered Insurance...

Regency Alliance Insurance Launches N7bn Private Placement

Regency Alliance Insurance Plc has officially launched a private...

Nigeria’s Private Sector Launches Gender Country Program to Unlock Inclusive Growth

Senior government officials, regulators, development finance institutions and business...

SERAP Sues INEC over ‘Failure to Probe Alleged N800bn FAAC Diversion for Campaign Funding’

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit...

Topics

MTN Condemns Xenophobia, No Mention of South Africa

“MTN Nigeria strongly condemns hate, prejudice and xenophobia and...

Tinubu Lauds Petrobras’ Imminent Return as Nigeria, Brazil Ink MoUs to Boost Economic Ties

President Bola Tinubu on Monday welcomed Petrobras's imminent return...

MTN Withdraws Suit Against NCC over N780bn Fine

MTN Nigeria says it has withdrawn the suit it...

Freedonia: Global Demand for Fuel Additives to Surge by 2016

Global demand for fuel additives will increase 4.7%/year to...

Dangote Cement: N32bn FX Loss, 43% Profit Decline, Stock Down 14.2%, Sales Dim 4.3% in Q3

Dangote Cement (DANGCEM) recently released its Q3 22 unaudited...

NGX, PenCom to Deepen PFAs’ Equity Participation with Pension Broad Index

Nigerian Exchange Limited, in collaboration with the National Pension...

Emirates Now Operates Daily Flights to Lagos

Emirates has announced an increase to its four times...

‘Businesses Need More Than Just Money to Thrive’ –Interswitch CEO

  Mitchell Elegbe Founder/GMD Interswitch Group Mitchell Elegbe, the Founder/GMD of the Interswitch...