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Arik Air Shareholders Denounce AMCON’s Alleged Mismanagement And False Claims
Arik Air Shareholders Denounce AMCON’s Alleged Mismanagement And False Claims....KINDLY READ THE FULL STORY HERE▶
Shareholders of Arik Air Limited have expressed their discontent with statements attributed to Alhaji Ahmed Kuru, the Managing Director of the Assets Management Corporation of Nigeria (AMCON). They accuse him of making false and misleading statements regarding Arik Air’s situation, leading to its takeover by AMCON.
The shareholders emphasize their moral duty to set the record straight and challenge what they see as a desperate attempt to misinform Nigerians about the damage inflicted upon Arik Air. They make several key points:
1. **Forceful Takeover of Arik**: They assert that when AMCON took over Arik Air on February 9, 2017, the airline was not in default of any financial lease or operating loan obligations to any bank, including the European Credit Agency (ECA)/HSBC facility. AMCON arbitrarily renegotiated the facility with Union Bank without involving Arik Air management.
2. **Blaming the Former Vice President**: They dispute Alhaji Kuru’s claim that former Vice President, Prof. Yemi Osinbajo’s intervention led to Arik’s takeover, suggesting that it was an unnecessary interference in a private company’s affairs.
3. **Arik Fleet & Route Network**: They contest Kuru’s assertion that Arik owned only seven aircraft, clarifying that Arik had 17 serviceable aircraft and 2 undergoing minor maintenance when AMCON took over. Today, Arik Air under AMCON’s management operates only 2 aircraft, with many assets either sold or abandoned.
4. **Engine Swap Claims**: They deny Kuru’s claims of engine swaps on Arik aircraft, stating that Arik Air’s fleet consists of new-generation aircraft with OEM engines/warranties.
5. **Alleged Indebtedness to AMCON**: They challenge AMCON’s claim of N240 billion in indebtedness, pointing out that AMCON never filed this sum in any court.
6. **NG Eagle Matter**: They raise concerns about the setup of NG Eagle, its transfer of Arik Air assets, and its sale to Alhaji Abdul Ahmad, an acquaintance of Alhaji Kuru. The Federal High Court has ruled this setup as illegal, null, and void.
7. **AMCON’s Forceful Takeover of Performing Loans**: The shareholders contend that AMCON took over performing loans and demand proof, records of indebtedness, and demand letters from the banks claimed to be owed by Arik Air.
The shareholders appeal for justice and aim to counter what they view as AMCON’s deception and misinformation to the Nigerian government and people.
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Game Changer: Why Political Insiders Believe Makinde Is the Opposition’s Best Bet Against Tinubu!
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The Allied Peoples Movement (APM) has urged other opposition parties to rally behind Oyo State Governor Seyi Makinde as a consensus presidential candidate to challenge President Bola Tinubu in 2027.....KINDLY READ THE FULL STORY HERE▶
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Speaking in Abuja through its National Publicity Secretary, Abubakar Yusuf, the party noted that ongoing discussions facilitated by the G-100 pressure group are advancing toward presenting a unified opposition front ahead of an upcoming meeting.
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Yusuf stressed that opposition stakeholders should prioritize national interest and regional rotation—allowing the South to complete another four-year term—over individual ambitions.
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He touted Makinde’s governance track record, youth appeal, and proposed blueprints for national security and economic reform as key factors giving him an edge over other aspirants.
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Keep The Peace Or Lose Your Throne: Governor Otu Sends Shockwaves Through The Traditional Council!.
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Speaking at the annual International Leboku Festival in Ugep, Yakurr Local Government Area, the governor strongly condemned the recent deadly inter-communal clashes between the Ugep and Idomi communities, labeling the violence a “show of shame.”....KINDLY READ THE FULL STORY HERE▶
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Otu emphasized that traditional leaders are strictly accountable for upholding local peace and traditions, warning that the state government will withdraw certificates of recognition from royal fathers where violence erupts and will withhold recognition from communities plagued by parallel leadership factions.
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Yakurr Council Chairman Chief Inyang Yibala Igri urged residents to choose development and historical ties over destruction, encouraging youths to focus on commercial farming.
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Meanwhile, the Obol Lopon of Ugep, HRM Obol Ufem Ubana, pledged the traditional council’s commitment to sustaining harmony while drawing attention to local concerns, including tensions from dual coronations in Agoi-Ibami, requests for sports infrastructure upgrades, and media coverage improvements.
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Joint forces comprising troops from the Army Headquarters Garrison and Operation SWEEP carried out a security raid on Sunday, August 23, 2026, targeting illegal shanties and suspected criminal hideouts in the Federal Capital Territory.....KINDLY READ THE FULL STORY HERE▶
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The sweep, which commenced around 4:00 p.m., spanned several communities across the Abuja Municipal Area Council (AMAC), including Karshi, Jeje, Kurape, and Nyanya, with the objective of eliminating safe havens for criminals and boosting security surveillance.
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According to security analyst Zagazola Makama, the operation successfully dismantled multiple unauthorized structures in areas identified as vulnerable.
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Following the exercise, the Mai-Anguwa of Nyanya praised the military action and committed to maintaining strong intelligence sharing and communication with security agencies to flag suspicious activities.
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