The Asset Management Corporation of Nigeria (AMCON) is actively pursuing the recovery of a substantial debt totaling over ₦455 billion owed by Arik Air and its affiliated companies.
AMCON asserts that it remains undeterred by alleged smear campaigns and is committed to fulfilling its mandate through all legal avenues.
Arik Air, once a leading Nigerian airline, was placed under AMCON’s receivership in 2017 due to financial distress.
The airline’s shareholders, however, dispute AMCON’s debt claims, accusing the corporation of disseminating misinformation and mismanaging the airline’s assets.
They argue that AMCON’s actions have exacerbated Arik Air’s financial challenges rather than alleviating them.
In response, AMCON maintains that its intervention was necessary to prevent the airline’s collapse and protect the interests of stakeholders.
The corporation emphasizes its dedication to recovering the owed debts and addressing any challenges arising during the receivership process.
This ongoing dispute highlights the complexities involved in large-scale debt recovery and the management of distressed assets within Nigeria’s aviation sector.
