‘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

Stanbic IBTC Reinforces Capital Markets Leadership Through Dangote Refinery IPO

Stanbic IBTC Holdings Plc has reinforced its position as...

CBN Bags NES Distinguished Organisation Award for Economic Reforms

The Central Bank of Nigeria (CBN) has received the...

Leadway Assurance Backs ISSP Initiative to Deepen Insurance Penetration, Consumer Trust

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

RMB Nigeria Advises on BOI’s N274.18bn Domestic Bond Issuance

L-R: Head, Debts Capital Markets, RMB Nigeria, Laju Atake;...

LG Electronics Highlights Seven Home Appliances at IFA 2026

As routines and lifestyles evolve across Europe, consumers are...

Topics

Buhari, PenCom Launch Micro Pension Plan for Informal Sector

President Muhammadu Buhari launched the Micro Pension Plan yesterday...

Tier-1 Banks Sell-off Halts Benchmark Index’s Bull Run… NSE ASI Down 44bps

The Nigerian bourse halted its 5 session bullish streak...

Nigeria Records 6.8% Fall in Smartphone Shipment

Shipment of smartphones in Africa fell 5.2% to 23.1...

NAICOM, Estate Valuers Seek Collaboration on Insurance of Public Buildings

The President and Chairman of Council of the Nigerian...

World Bank Raises 2016 Oil Price Forecast to $43

The World Bank is raising its 2016 forecast for...

Airtel Divests Towers in DRC to Helios Africa

Bharti Airtel has announced that it is selling approximately...

Unity Bank’s Yanga Account for Women Garners 97, 000 Customers in a Year

Yanga, a retail account designed exclusively (Only) for women...