AMCON Archives - Aviation metric

67 Years in the Sky: Sanusi Lauds AMCON, urges FG to protect Aero Contractors as “National Treasure”

Posted on October 5, 2026October 5, 2026 by Wole Shadare

The Managing Director of Aero Contractors, Capt. Ado Sanusi, has paid a glowing tribute to the Asset Management Corporation of Nigeria (AMCON), crediting the debt recovery agency with saving Nigeria’s oldest airline from total collapse during its lowest point in 2016. Speaking in his keynote address to mark the airline’s 67th anniversary, Sanusi recalled how AMCON stepped in, acquired a majority stake, and gave the carrier a vital lifeline. He expressed deep gratitude to the…

Exit Aero Contractors Now, NUATE Tells AMCON

Posted on April 30, 2026April 30, 2026 by Wole Shadare

The National Union of Air Transport Employees (NUATE) has escalated its long-standing grievances over the Asset Management Corporation of Nigeria (AMCON) ‘s oversight of Aero Contractors. In a circular issued on Thursday, NUATE President Ben Nnabue raised several critical alarms regarding the airline’s stability and future under the current receivership model. The union’s latest intervention highlights a deepening rift between the workers and the corporation. Nnabue accused AMCON of refusing to provide the capital injections…

Arik Debt: Amid Drama, Cross-Examination Of Jega, Ex-AMCON ED Continues In October

Posted on July 2, 2025 by Wole Shadare

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos State, on Tuesday adjourned the trial of Ahmed Kuru, a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), and four others over alleged fraud amounting to N76 billion and $31.5 million. She adjourned the case till October 15 and 17, 2025. Ahmed Kuru is facing trial alongside Capt. Roy Ilegbodu, Managing Director of Arik Air; Kamilu Omokide, Receiver Manager of…

LAAC 2025: Keyamo, AMCON CEO, Sabre Chairman, to Lead Discussions on Aviation Financing in Nigeria

Posted on June 30, 2025 by Wole Shadare

…29th Annual Conference Set for 7 August 2025 in Lagos …Keyamo to Attend as Special Guest of Honour, Najomo to Deliver Regulatory Goodwill Message …Expert Panel Drawn from Across the Aviation Value Chain The League of Airport and Aviation Correspondents (LAAC) has announced a distinguished line-up of top industry leaders, financial experts, regulators, and policymakers for its 29th Annual Conference, scheduled to hold on Thursday, 7 August 2025, at The Providence Hotel, GRA Ikeja,…

Jega, Ex-AMCON ED, Testifies, Says Arik Never Cooperated With AMCON

Posted on June 5, 2025June 5, 2025 by Wole Shadare

A former Executive Director at Asset Management Corporation of Nigeria (AMCON), Mr Abbas Muhammed Jega, on Wednesday appeared at the Special Offences Court in Ikeja, Lagos, to testify in the ongoing case between the Economic and Financial Crimes Commission (EFCC) vs the ex-AMCON MD/CEO, Ahmed Kuru, Kamilu Omokide, a former receiver manager of Arik Air Ltd; Captain Roy Ilegbodu, the airline’s CEO; Union Bank Ltd; and Super Bravo Ltd. Jega appeared as the third prosecution…

Huge boost for AMCON As Arik Air Airlifts 2.2m Passengers In 2024

Posted on April 2, 2025April 2, 2025 by Wole Shadare

Operates 10,699 Flights – NCAA Report Arik Air in 2024 airlifted 2,239,176 passengers between January 1, 2024 to December 31, 2024, a report sourced from the Nigeria Civil Aviation Authority (NCAA) has confirmed. The airline, which has been under the receivership of Asset Management Corporation of Nigeria (AMCON) since 2017, despite its challenges, also operated 10,699 flights within the year under review, making it the second most active airline in terms of passenger traffic…

Arik, AMCON endless messy tango

Posted on January 21, 2025January 21, 2025 by Wole Shadare

The question on the lips of many who have followed the Arik Air saga is how long will this drama continue to play out? WOLE SHADARE examines various positions of the feuding parties Ominous sign It is becoming very clear that Arik Air may be liquidated by the time the Assets Management Corporation of Nigeria (AMCON) vacates all the litigations instituted by the airline’s founder, Mr. Johnson Arumemi-Ikhide. It seems as the only option left to mitigate…

AMCON: Why we took over Arumemi-Ikhide’s three firms, vows to recover N227.6 billion Arik debt

Posted on January 17, 2025 by Wole Shadare

Unmoved by what it termed peddling of falsehood, the Assets Management Corporation of Nigeria (AMCON) on Friday said there is no going back on the corporation’s effort to N227,637,469,394.34 billion owed by Arik Air saying it would not be intimidated by the debtors alleged sponsored media attacks and resistance to pay. Putting the record straight, spokesman for AMCON, Jude Nwauzor who briefed the media in Lagos disclosed that the firm needed to correct some misinformation…

FACTS OF INDEBTEDNESS: SIR JOHNSON ARUMEMI-IKHIDE/ ARIK TO ASSET MANAGEMENT CORPORATION OF NIGERIA

Posted on October 11, 2023October 11, 2023 by Wole Shadare

By Jude Nwauzor The Asset Management Corporation of Nigeria (“AMCON” or “Corporation) has become aware of a recent newspaper article written by Sir Johnson Arumemi-Ikide and published in ThisDay Newspaper on September 27, 2023. In the article, Sir Johnson made several spurious claims, which are at best a misrepresentation of facts and an attempt to besmirch the integrity and reputation of AMCON in the fulfilment of its statutory mandates and objectives. While it is…