Connect with us

latest

Arik Air Shareholders Denounce AMCON’s Alleged Mismanagement And False Claims

Published

on

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.

Read Also Nigerian Commercial Banks Face $1 Billion Loan Losses In First Half Of 2023 Amid Inflation And Rate Hikes

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.

Breaking: Defence Headquarters Reports Significant Success In Combating Terrorism And Oil Theft

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.

Rivers Crisis Escalates As PDP Loyalists Take Control Of Emohua Council Secretariat

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.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Advertisement

latest

2027 Shake-Up: APC Dumps Gbenga Daniel, Backs Dapo Abiodun For Ogun East Senate Seat.

Published

on

Leaders of the All Progressives Congress (APC) in Ogun East Senatorial District have reportedly endorsed Governor Dapo Abiodun as their preferred candidate for the 2027 senatorial election.....KINDLY READ THE FULL STORY HERE▶

According to reports, the decision was taken on Monday during a large political gathering held at Adeola Odutola Hall in Ijebu-Ode, which attracted party stakeholders and grassroots representatives from across the district.

A statement from the governor’s media office indicated that the meeting was widely attended by key APC figures, including members of the Governor’s Advisory Council, former and serving local government chairmen, councillors from all wards, as well as current and former lawmakers at both state and national levels. Women leaders, youth groups, and other stakeholders were also present.

“No Wike, No Win: APC Vice Chairman Draws Line For Fubara In Rivers Politics”.

Party leaders at the event expressed confidence in Abiodun’s capacity to represent Ogun East effectively at the National Assembly, describing his leadership record as a key factor in their decision.

Lagos LCDA Chairman Distributes School Materials, Financial Aid to Pupils

They also resolved to formally communicate the endorsement to the governor and begin mobilisation efforts ahead of the 2027 electoral cycle.

The Secretary to the State Government, Tokunbo Talabi, noted that the governor’s performance in office and his role in fostering unity within the party were central to the decision to support his senatorial ambition.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Shocking Exchange: Presidency Blasts Peter Obi Over Alleged Party Control Battle.

Published

on

The Presidency has criticised former presidential candidate, Peter Obi, questioning his leadership ability and accusing him of failing to manage internal crises within the Labour Party (LP).....KINDLY READ THE FULL STORY HERE▶

According to reports, the Special Adviser to President Bola Tinubu on Media and Public Communication, Sunday Dare, made the remarks during an interview on African Independent Television (AIT) on Monday.

Dare argued that Obi did not found the Labour Party and does not have full control over its structure, adding that his handling of party disputes raises concerns about his leadership capacity.

He further alleged that Obi has shown a pattern of moving between political platforms rather than resolving internal challenges, insisting that he “cannot fix” his own party.

Lagos LCDA Chairman Distributes School Materials, Financial Aid to Pupils

Dare said the Labour Party’s internal crisis had been visible for years and questioned Obi’s level of involvement in resolving it, suggesting that he instead left the party amid the turmoil.

He stated that such leadership qualities should be scrutinised given national responsibilities, adding, “You cannot fix your party.”

The presidential aide also addressed claims linking the Presidency to the crisis within the African Democratic Congress (ADC), rejecting any involvement and insisting the party’s internal issues were not influenced by the federal government.

Abia Police Detain Suspects as Criminal Investigation Intensifies

He maintained that the ADC situation is already before the courts and should be resolved through judicial processes rather than public agitation or political pressure.

Dare urged all parties involved to respect ongoing legal proceedings, stressing that court decisions would ultimately determine the outcome of the disputes.

He added that the government remains committed to respecting the judiciary and warned against attempts to influence public opinion while cases are still being decided.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

entertainment

Shocking Insight: Don Jazzy Reveals Key Reason Marriages Don’t Last Today.

Published

on

Nigerian music executive Don Jazzy has sparked reactions online after sharing a lighthearted explanation about why many modern marriages seem to break down faster than those of previous generations.....KINDLY READ THE FULL STORY HERE▶

In a video that quickly went viral on social media, the Mavin Records boss used wedding cakes as a humorous analogy to compare past and present relationships.

He noted that in earlier times, couples often used fruit cakes made with alcohol for weddings. According to him, such cakes were durable and could last for long periods—sometimes up to a year—allowing couples to preserve and even share portions during their first wedding anniversary.

Kwara: Police And Vigilantes Thwart Kidnap Attempt In Ilorin

He jokingly suggested that this long-lasting nature of traditional cakes symbolically reflected the stability of marriages in the past.

Don Jazzy contrasted this with today’s trend, where many couples opt for butter or ice-cream cakes that require careful storage and spoil more easily.

“No Wike, No Win: APC Vice Chairman Draws Line For Fubara In Rivers Politics”.

He humorously implied that the shorter lifespan of these modern cakes mirrors the perceived fragility of some contemporary marriages.

He also pointed out that many modern wedding cakes are often heavily decorated with non-edible materials, with only a small portion actually meant for consumption.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

Trending

Copyright © 2023 NIVONEWS

×