‘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 Bank PMI: Strongest Growth of Output Since February 2022

September data signalled strengthening growth momentum in Nigeria's private...

Stanbic IBTC’s AAA (nga) Rating, Unbroken for a Decade, Reaffirmed by Fitch

Stanbic IBTC has been reaffirmed at 'AAA (nga)' by...

A&G Pitches 5-Point ‘Extra Mile’ CSW 2026 Strategy to Brokers Driven by Recapitalisation Strength

Alliance & General Insurance Plc has initiated a strategic...

Recapitalisation: The Road to Strong Capital Adequacy, Growth for Insurance Industry

The recent conclusion of the recapitalisation exercise in the...

AXA Mansard’s New Campaign Seeks to Deepen Insurance Penetration as Path to Economic Growth

AXA Mansard Insurance Plc has unveiled a new strategic...

Topics

Veritas Kapital Employee Volunteer Program Impacts on Karamajiji Community

Veritas Kapital Assurance (VKA) Plc - one of the...

Nigeria Missing in 2017 Dubai Property Investors Listing

Online marketplace lists Top 10 nationalities buying UAE...

NCC to Unveil Strategic Management Plan (SMP) 2020-2024 on June 23

In line with the objective of creating a seamless...

Igbo Youth Forum Condemns Nomination of Hon. Benjamin Kalu as Deputy House Speaker

The Amalgamated Igbo Youth Progressive Forum has condemned the...

Adeosun: ‘Infrastructure Spending Will Unlock Growth in Nigeria’

The Minister of Finance, Mrs. Kemi Adeosun has assured...

Brand Africa to Unveil Africa’s Top 100 Brands on Oct 22

Brand Africa is to release its highly anticipated 4th Brand Africa 100: Africa’s Best Brands rankings of the Top 100 Most Admired and Most Valuable brands in Africa at a Gala event at Sandton Convention Center on 22 October 2015. The rankings, first launched in 2011 at the 2nd Brand Africa FORUM, have been held in Johannesburg, South Africa in 2011 in partnership with Brand South Africa, in Nairobi, Kenya in 2014 in partnership with the Kenya Securities Exchange and in New York in 2013 partnership with African Business on the sidelines of the UN General Assembly.

‘Stop National Assembly Budget Secrecy’–BudgIT tells Saraki

That Nigeria’s National Assembly, an arm of government that...