Arik Archives - Aviation metric

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…

Jega, EFCC witness recants, says Arik N85 billion loan not performing since inception

Posted on June 30, 2025 by Wole Shadare

A former Executive Director, Credits at Asset Management Corporation of Nigeria (AMCON), Mr. Muhammed Abass Jega has disclosed that the Arik debt in AMCON, which was onboarded at the time he served as Executive Director, fell within the category of non-performing loan as categorised by the regulatory agencies in the country. He stated this during cross-examination at the ongoing criminal trial at the Special Offences Court presided over by Justice Mojisola Dada. The matter, which…

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…

Court Refuses EFCC Evidence In Arik Air N76bn Aircraft, Property Sales Case

Posted on March 19, 2025March 19, 2025 by Wole Shadare

A Lagos State High Court, sitting in Ikeja, on Wednesday has refused to admit the evidence produced in court by the witnesses of the Economic and Financial Crimes Commission (EFCC) in the ongoing fraud trial leveled against the former Managing Director of the Asset Management Corporation of Nigeria, Ahmed Kuru. The EFCC had accused the defendants of defrauding Arik Air of N76 billion and $31.5 million. Aside from Kuru, four others had been dragged before…

Arik Air bags airline of the Year 2024 award

Posted on March 1, 2025March 1, 2025 by Wole Shadare

Arik Air has been honoured with the award of the Labour Friendly Airline of the Year 2024 by the Joint Consultative and Negotiating Council (JCNC), an amalgam of the four existing trade unions in the Federal Ministry of Aviation and Aerospace Development. The award was presented by the Permanent Secretary, Federal Ministry of Aviation and Aerospace Development, Dr. Ibrahim Abubakar Kana, who represented the Minister at the 11th edition of the Aviation Workers Week held…

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…

Unions plead with Tinubu over Arik’s crisis

Posted on August 5, 2024August 5, 2024 by Wole Shadare

Unions in the aviation industry have appealed to President Bola Tinubu to intervene in the ongoing crisis at Arik Air following the seizure of one of its aircraft after the Supreme Court granted judgment to businessman, Chief Arthur Eze. In implementing the judgment, the Nigerian Airspace Management Agency (NAMA) grounded the airline’s aircraft last week for indebtedness following the execution of a court judgment. The Nigerian Civil Aviation Authority (NCAA) has denied that the airline’s…

Seized aircraft: NAMA urges Arik, Eze to settle dispute, denies exparte order receipt

Posted on July 30, 2024July 30, 2024 by Wole Shadare

The Nigerian Airspace Management Agency (NAMA) said it is yet to be formally served the ex-parte order by Arik Air stopping further execution of the judgment of the Supreme Court. It tasked the parties to the dispute to resolve their issues as quickly as possible so that the Arik aircraft in question could resume flight operations. NAMA’s Director of Public Affairs and Consumer Protection, Alhaji Abdullahi Musa in a statement explained that on July…

Arik makes air turn back over potential fire in cargo aft area

Posted on April 18, 2024April 18, 2024 by Wole Shadare

A B737-700 aircraft belonging to Arik Air Thursday morning made an air return following the detection of an indication light suggesting a potential fire in the aft cargo area. An air return or turn back is a situation where an aircraft returns to land at the departure aerodrome without having initially planned to do so. The most common reason for air turnback is an emergency or abnormal during or shortly after take-off, the most common being…

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