Johnson Arumemi-Ikhide arrested as AMCON takes over Arik Air

Johnson Arumemi-Ikhide arrested as AMCON takes over Arik Air

Chief Johnson Arumemi-Ikhide was on Wednesday arrested by operatives of the Economic and Financial Crimes Commission, EFCC, over allegation of misappropriation of Arik Air’s debt running into N135bn.

Read also: Dele Belgore reportedly arrested over N23b Diezani’s poll cash

Arumemi-Ikhide, who was whisked away by the operatives of the anti-graft agency at the premises of the airline in Lagos also ceased to be the Executive Chairman of Arik following the take-over of the airline by the Asset Management Company of Nigeria, AMCON.

The take-over was announced on Thursday in a statement released by AMCON.
The statement read partly, “From all indications, respite may have come the way of Arik Airlines currently immersed in heavy financial debt burden that is threatening to permanently ground the airline.

‘’For some time now, the airline, which carries about 55 per cent of the load in the country, has been going through difficult times that are attributable to its bad corporate governance, erratic operational challenges, inability to pay staff salaries and heavy debt burden among other issues, which led to the call for authorities in the country to intervene before Arik goes under like many before it.

“The move, which clearly underscores government’s decision to instill sanity in the nation’s aviation sector, has also prevented a major catastrophe that would, among other factors, protect and preserve Arik Airlines as a going concern.

“The development will afford Arik Airlines, which is the largest local carrier, to go back to regular and undisrupted operations, avoid job losses, protect investors and stakeholder funds as well as ensure safety and stability in the already challenged aviation sector.”

Name
Email *
 


Related Articles

ESTATE RESIDENTS ACCUSE TV BROADCASTER OF THREAT TO LIFE

The residents association of Dobys Haven Estate in Ajah, Lagos, has accused the Executive Producer of Crime Fighters, a defunct

Alleged frauds President Buhari’s son in-law, Gimba Yau Kumo, orchestrated in Federal Mortgage Bank

President Muhammadu Buhari’s new son in-law, Gimba Yau Kumo did not leave Federal Mortgage Bank where he was Managing Director

Oritsejafor Accuses Politicians of Buying Human Parts Ahead of 2015 Election, As Ritualists Kill Father & Son In Bauchi

PRESIDENT of the Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor has attributed the spate of ritual murders in the


x

Related Posts

Sen. Saraki accused of being a bully
Pro-Chancellor and Chairperson of the Governing Council of Federal University, Otuoke, Bayelsa State, Senator Gbemisola Saraki, has come under fi...
Am ready to die - Suspended Ekiti lawmaker
Hon. Gboyega Aribisogun, a member of Ekiti State House of Assembly who was suspended for 180 legislative days said he was ready to die in his bid...
There is only one man-of-God in Nigeria - Yomi Fash Lanso
Actor Yomi Fash Lanso has hit out at Nigerian pastors saying almost all of them were men of questionable characters living large on tithes and of...
powered by RelatedPosts