‘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

EFCC Loses Bid to Prosecute Chappal Energies MD over Shareholding Dispute

Justice Josephine Obanor of an FCT, Abuja, high court...

Nigeria Records 43,000 Snakebites, 2,500 Deaths Annually

Experts have urged residents to avoid handling snakes and...

Tangerine General Insurance, emPLE Nigeria Join IMT 5.0 as Sponsors

Insurance Meets Tech (IMT), West Africa's leading platform for...

LAWMA Hosts Students on Educational Visit to Mark World Science Day 2026

The Lagos Waste Management Authority (LAWMA), through its Academy,...

Leadway Assurance Returns as Official Insurer of Lagos International Trade Fair for the Second Consecutive Year

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

Topics

VISA Unveils Secure Payments Plan for Internet of Things

Visa says that it is expanding its Visa Ready...

NHIA: 22m Nigerians Embrace Mandatory Health Insurance as Momentum Rises

The National Health Insurance Authority (NHIA) has announced significant...

Sovereign Trust Insurance Holds 2025 Budget & Strategy Session in Lagos

L-R: Lead Consultant, Quick Projects, Dr. Victor Dike, Kayode...

Anchor Insurance MD, Austin Ebose, Bags Insurance CEO of the Year Award

Augustine Ebose Managing Director/CEO Anchor Insurance Company Limited The Managing Director, Anchor...

Mobile Phones Fast Track Financial Inclusion in Sub-Saharan Africa

Even as mobile money services become part of daily...

Regulators Focus on Digital Banking in Developing Countries

  Godwin Emefiele Governor Central Bank of Nigeria ​​Around the world, some 1.7...