‘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

CIIN Boss, Yetunde llori, Bows Out, Lists Achievements in Office

Mrs. Yetunde llori, the President/Chairman of Council, Chartered Insurance...

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...

Topics

Fidelity Bank Brings Relief to Rivers State Community with Food Bank Initiative

L-R: The Branch Leader, Trans-Amadi 1 Port Harcourt, Bob...

Bargain Hunting in Bellwethers Buck Market Bearish Run… NSE ASI up 93bps

Bargain hunting in some bellwether stocks – DANGCEM (+2.7%), NIGERIAN BREWERIES (+2.3%), NESTLE (+1.7%) and UNILEVER(+4.9%)...

3 Congratulations to 3 Men of History

It’s a season of divine victories for Nigeria! A victorious season that began with peaceful conduct of presidential election on Saturday, March 28, 2015 and equally peaceful handover of political power to another political party at the centre. It was also a political milestone when the defeated incumbent president freely conceded defeat and congratulated his opponent-an exemplary conduct in our clime.

Global Airlines Confidence Survey: January 2017

When surveyed in early-January for our quarterly business confidence...

NCDMB, Starzs Gas, Upbeat about Industrialisation at Ceremony for Integrated CNG Project

General Manager, Corporate Communications and Zonal Coordination, Nigerian Content...

Leadway Assurance: 34 Young Professionals Scale 2022 Graduate Trainee Programme

Tunde Hassan-Odukale Managing Director/CEO Leadway Assurance Company Limited In the quest to...

Stanbic IBTC Insurance: The Good Life Campaign Targets Awareness Creation

L-R: Segun Arinze, actor and celebrity; Lara Ibirogba, Consumer...

NAIPCO Confab 2021: COVID-19 Impact on Financial Inclusion

Insurance and pension stakeholders are set to converge at...