In a rekindled bickering over the airline’s financial status, the Asset Management Corporation of Nigeria (AMCON) and Arik Air shareholders have traded fresh accusations over the embattled airline’s debt of over N455 billion.
While AMCON has insisted on recovering the huge sums in acquired loans, the shareholders, led by Sir Johnson Arumemi-Ikhide, have accused the asset managers of falsehood and mismanagement of the carrier.
Recall that Asset Management Corporation of Nigeria (AMCON) took over Arik Air in February 2017 as part of measures to “save” the airline from “imminent collapse”. AMCON had cited gross mismanagement by the owners of Arik and debt of over N300 billion.
After seven years of difficult operations and a long, hard-fought battle with shareholders, AMCON last year hinted at plans to withdraw from ownership and operations by creating the botched NGEagle Airline exit…
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