Minister executes Eze’s $2.5 million judgement, grounds Arik’s plane, airline fumes

The chief executive officer of Arik Air, Capt Roy Ilegbodu ( (In Receivership) has expressed shock over the grounding of one of its aircraft by the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo.

The reason for the action was as a result of a $2.5 million loan granted Arik’s owner, Sir Johnson Arumemi-Ikhide by billionaire businessman, Chief Arthur Eze. Eze got a Supreme Court judgment against the Arik Air founder.

He was said to have met the Minister with the judgement which made him execute the court judgement.

Ilegbodu further stated that the Minister’s decision was without warning and one that had serious repercussions for the country’s economy.

 This decision, made without warning or consultation, he said would affect its operations.

“Our priority has always been to connect people and facilitate commerce, especially on critical domestic routes. The grounding of our fleet disrupts these vital services, leaving passengers stranded and inflating already high travel costs”.

“This decision hurts everyday Nigerians who rely on our flights for business, family, and essential activities.”

The decision also disregards ongoing judicial processes. On February 26, 2016, a judgment was made in favour of Atlas Petroleum International Limited and Engineer Arthur Eze. However, there is an ongoing case in the Federal High Court, where Asset Management Corporation of Nigeria (AMCON) is asserting its secured interest in Arik’s assets.

 Despite this, a writ of attachment was issued on July 18, 2024, targeting its aircraft, after which, further to an originating motion filed by AMCON, the High Court of the FCT on July 25, 2024, clearly instructed all parties to maintain the status quo.

“We therefore are perplexed as to the grounding of our fleet, which is an overreach of the ongoing judicial processes and directives of court”.

“We believe this action undermines the rule of law and sets a dangerous precedent, prioritizing unsecured private interests over the public good and the rights of secured creditors.”

” We are committed to following the legal process and have full faith in the judiciary to resolve these matters fairly.”

He disclosed that Arik has always been a proud partner in Nigeria’s growth, providing reliable and safe air travel.

“We urge the authorities to reconsider this decision, lift the grounding order, and allow us to continue serving the public and supporting the economy.”

“We stand with our passengers and employees during this challenging time and are working tirelessly to resolve this situation. Your support and understanding are greatly appreciated.”