‘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

Top10 Magazine Names Umaru Kwairanga as Man of the Year 2026

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

CBN Grants JPMorgan Approval-in-Principle to Establish Merchant Bank in Nigeria

The Central Bank of Nigeria (CBN) has granted Approval-in-Principle...

Cardoso Engages Business Leaders on Strengthening Nigeria–China Financial Corridor

The Central Bank of Nigeria (CBN) convened a high-level...

UBA Commences Contempt Proceedings Against WEMPCO Directors over Alleged Disobedience of Court Order

Mr. Lewis Tung and his brother, Robert Tung The Federal...

$242m Petroleum Products Diversion Claim: UBA Secures Court Order Against Vitol, Four Others

A Lagos State High Court has granted interim preservative...

Topics

BAFI Awards: African Alliance Named Claims Excellence Insurance Company of the Year

Joyce Ojemudia Managing Director/CEO African Alliance Insurance Plc African Alliance Insurance Plc...

SMEs Reap Rewards at RedStar SME 1000

Determined to rejuvenate and strengthen SMEs in the country...

NCC Renews Commitment to Industry Collaboration, Inclusiveness

  L-R: Nnena Ukoha, Head, Corporate Communications, Nigerian Communications Commission...

Stanbic IBTC Pension Attributes Stable Outlook Rating to Commitment to Excellence

  Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic...

GTCO: Market Value Hits N1.58tn on Investor, Market Confidence

GTCO Plc has started clinging near its 52-week high...

Universal Insurance:  Using Innovative Products to Drive Market Share

Universal Insurance Plc has unveiled an array of innovative...

NGX Hails AIHN on 30th Anniversary, Seeks Partnership to Drive Capital Market Growth

GOODWILL MESSAGE BY ALHAJI (DR.) UMARU KWAIRANGA, GROUP CHAIRMAN,...

Africa Renewable Energy Forum: The $19bn Africa Fund

At COP 21, it was determined that approximately $19...