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Arik Air Shareholders Accuse AMCON of Mismanagement Leading to Flight Suspensions

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Arik Air Shareholders Accuse AMCON of Mismanagement Leading to Flight Suspensions....KINDLY READ THE FULL STORY HERE▶

Shareholders of Arik Air have raised serious allegations against the Asset Management Corporation of Nigeria (AMCON), claiming that mismanagement has led to the airline’s suspension of flights to the United States. The shareholders argue that the discontinuation of routes to New York (JFK) and London (LHR) is a direct result of Nigeria losing its Federal Aviation Administration (FAA) Category 1 certification, a situation they attribute to AMCON’s alleged mishandling of the airline.

In a statement obtained by SaharaReporters, the shareholders detailed how AMCON’s forced takeover of Arik Air resulted in the appointment of incompetent supervisors, which they believe significantly contributed to the suspension of international flights and the loss of valuable landing slots at JFK and LHR.

The shareholders further claim that over 17 brand-new aircraft were cannibalized and destroyed under AMCON’s oversight. They emphasized that AMCON’s intervention led to the initial suspension of Lagos/New York (JFK) flights, which were previously operated by Hi Fly of Portugal to comply with Part 129 requirements.

After Nigeria regained its Category 1 status, Arik Air managed to obtain its own Part 129 certification. The airline resumed its New York route with its own Nigerian-registered aircraft and crew, successfully operating it for over six years before AMCON’s takeover.

The shareholders highlighted Arik Air’s substantial investment in obtaining the FAA Cat 1 certification, which included over $12 million in engaging a world-class consultant, SH&E from the USA. This investment supported the Nigerian Civil Aviation Authority (NCAA), the Federal Airports Authority of Nigeria (FAAN), and the Ministry of Aviation in developing the necessary manuals and procedures.

The statement acknowledged the tireless efforts of key figures such as Mrs. Fidelia Njeze, former Minister of Aviation, and Dr. Harold Demuren, former Director General of NCAA, who played crucial roles in ensuring the successful delivery of the Cat 1 audit and certification process.

The shareholders lamented the recent reports regarding Nigeria’s delisting from the FAA Cat 1 certification list due to the inactivity of Nigerian operators on American routes. They stressed that this inactivity is a direct consequence of AMCON’s forceful takeover of Arik Air, which occurred on February 9, 2017.

They further explained that the discontinuation of the Lagos/New York flights—initially operated by Hi Fly of Portugal—occurred only after AMCON took control. Under AMCON’s management, Arik Air’s operations have reportedly diminished by over 95%, negatively impacting both the traveling public and Nigeria’s economy.

The shareholders argue that AMCON’s actions have led to significant losses not just for Arik Air, but for Nigeria as a whole, as the loss of Category 1 status has hindered other promising airlines. They urge the government to hold AMCON and its appointed Receiver Managers accountable for their alleged mismanagement and economic sabotage.

With the future of Arik Air hanging in the balance, the shareholders stress the need for transparency and accountability in the aviation sector. They believe that the legacy management of Arik Air deserves recognition for their commitment to aviation development in Nigeria, which has been undermined by AMCON’s interference.

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‘He Has Remembered The Poor’ – Oshiomhole Speaks On Tinubu’s ₦70,000 Allowance,

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The Senator representing Edo North, Adams Oshiomhole, has praised President Bola Tinubu’s administration, insisting that the government is performing well and deserves recognition for its efforts.....KINDLY READ THE FULL STORY HERE▶

Oshiomhole specifically pointed to the approval of an additional ₦70,000 transport allowance for workers, saying the decision demonstrates the President’s concern for the welfare of ordinary Nigerians.

The former Edo State governor made the remarks on Thursday during an appearance on Channels Television’s Politics Today.

He argued that the allowance would provide significant relief to low-income earners, particularly workers who previously earned ₦70,000 monthly.

“I think this government is doing well. If a man who was on ₦70,000 now is given ₦70,000 addition that makes it ₦140,000 for him it’s a hundred percent increase and if you know what ₦10,000 means for the real masses, you’ll appreciate that Tinubu has shown that he cares,” Oshiomhole said.

The Federal Government approved the monthly ₦70,000 transport support for workers across all levels for an initial six-month period beginning in November 2026.

The decision followed a meeting with the Nigeria Labour Congress (NLC) on October 27.

During the interview, Oshiomhole also criticised the administration of former President Olusegun Obasanjo, under which former Vice President Atiku Abubakar served.

He alleged that the administration struggled to guarantee the regular payment of workers’ salaries.

The senator further argued that the 2027 presidential election would offer Nigerians a choice between Tinubu, whom he credited with unifying the exchange rate, and Atiku, whose administration he accused of maintaining multiple exchange rates that favoured people based on their connections.

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Man United Owner Avram Glazer Makes Stunning Admission About Winning Trophies.

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Manchester United co-owner Avram Glazer has maintained that the club can continue to enjoy commercial success even without winning major trophies, a position that could further upset supporters unhappy with the team’s recent performances.....KINDLY READ THE FULL STORY HERE▶

The 66-year-old American businessman made the remarks at Deutsche Bank’s inaugural Sports Investment Conference in London, where he discussed the connection between a football club’s performances on the pitch and its financial value.

According to The Athletic, Glazer argued that Manchester United’s commercial strength is not necessarily dependent on winning silverware.

He reportedly cited American sports franchises such as the New York Yankees and Dallas Cowboys, which have retained their global commercial appeal despite going through lengthy periods without winning major trophies.

Glazer, who has been involved in Manchester United’s ownership since 2003, believes the club can continue generating significant revenue even when its performances on the pitch fail to meet expectations.

His position is similar to comments previously made by former United executive vice-chairman Ed Woodward, who told investors in May 2018 that the team’s performances had little meaningful impact on the club’s commercial operations.

Despite their recent difficulties, Manchester United remain the third most valuable football club in the world, according to Forbes, behind Real Madrid and Barcelona.

Glazer’s comments come amid growing frustration among United supporters over the club’s ownership and performances. Fans have repeatedly staged protests against the Glazer family, including during the club’s recent Champions League encounter with Roma.

United ended a nine-match winless run with a dramatic 3-2 comeback victory over the Italian side. Matias Soule and Donyell Malen had put Roma ahead before Bruno Fernandes converted a penalty and Matheus Cunha scored twice to complete the turnaround.

However, Cunha was sent off during stoppage time and needed an escort off the pitch after the final whistle.

Despite the European victory, Manchester United remain close to the Premier League relegation zone, with only goal difference separating them from the bottom three.

Manager Michael Carrick is under increasing pressure to improve the team’s results, with United scheduled to host Aston Villa on Sunday.

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Boko Haram Deal: What Defence Headquarters Says About Alleged Agreement With FG.

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The Defence Headquarters (DHQ) has denied reports that the Federal Government reached a ceasefire agreement with Boko Haram, the Islamic State West Africa Province (ISWAP) or other criminal groups operating across the country.....KINDLY READ THE FULL STORY HERE▶

The denial follows a report alleging that the Federal Government entered into a secret peace deal with the faction of Boko Haram led by Bakura Doro. The report claimed the alleged agreement was responsible for the relative calm recorded in parts of the North-East over the past three months.

However, speaking during a joint security briefing in Abuja, the Director of Defence Information, Major General Samaila Uba, dismissed the claims, insisting that no ceasefire arrangement existed with the terrorists.

Uba maintained that military operations against insurgents, kidnappers and other armed criminal groups would continue nationwide.

He said, “On the issue of whether there is a ceasefire with Boko Haram, I want to make it clear that there is nothing like a ceasefire.

“Considering the terrorists neutralised, suspects arrested, victims rescued and other successes recorded across our operations, it is clear that we are not relenting.

“We will continue to sustain pressure on these criminal elements.”

The defence spokesman explained that the military’s operations were not limited to Boko Haram and ISWAP but also covered kidnappers and other armed groups threatening the lives and security of Nigerians.

“Our operations are not limited to Boko Haram or ISWAP. They also target kidnappers and other criminal elements who take up arms against innocent citizens,” he stated.

He warned that anyone involved in criminal activities would face lawful military action or be brought before the courts.

“Anyone involved in criminal activities that threaten the lives and security of Nigerians will either be eliminated through lawful military operations or brought to justice,” Uba added.

Addressing reports that insurgents were moving into areas where they had previously been less active, Uba described the development as an indication of the impact of ongoing military operations.

He, however, stressed that the Armed Forces were not taking the situation lightly, adding that efforts were underway to identify locations where the insurgents might have relocated to prevent them from establishing new bases.

“The fact that some of them are leaving their former locations is a testimony to the successes of our operations. However, I assure you that we are not taking the situation lightly,” he said.

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