‘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

WorldStage to Present Nigeria’s Economic Report Q1 2026 at Business Forum

World Stage Limited (WorldStage), a Nigerian-based research and technology-driven global focused firm...

NAICOM Chief, Segun Omosehin, Attends Africa Re AGM in Abuja

L-R: The Honourable Minister of Finance and Co-ordinating Minister...

Stanbic IBTC Pension Managers Champions Flexible Pension Solutions to Deepen Inclusion

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

Train 7 Hits 90% Completion, Generates 16,000 Jobs as NCDMB, NLNG Advance Local Content

The leadership of the Nigerian Content Development and Monitoring...

Topics

MOHBAD’S DEATH: RETHINKING INSURANCE FOR ENTERTAINMENT INDUSTRY

By Tope Adaramola It’s not news anymore that the death...

Pension Assets to Hit N20tr in 8 Years

Pension assets in Nigeria are expected to hit the...

Continental Reinsurance Plc: Most Innovative Reinsurer Africa 2022

  Mr. Lawrence Nazare Group Managing Director/CEO Continental Reinsurance Plc The CFI.co judging...

Orange Buys Two Networks in Africa from Bharti Airtel

Orange and Bharti Airtel have signed an agreement leading...

Non-Implementation of Guaranteed Minimum Pension:Increasing Apathy to Join/Remain in the Contributory Pension Scheme

By Dr. Pius Apere (PhD/FCII) (Actuarial Scientist and Chartered Insurer) Chairman/CEO,...

Nigeria Suspends Action Against Militants in Niger-Delta

There are strong indications that the Nigerian Government has...

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

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

PalmPay Reaches 25m Smartphone Users, 800,000 Firms on Mobile Money Network

  PalmPay, a leading Nigerian financial platform, announced last week...