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Alleged Multi-billion Naira Fraud: AMCON Takes Over Aero Contractors Airline

7 Feb 2016 11:54:53

leadership.ng

Following allegations of massive fraud perpetuated by the board and management of Aero Contractors Limited, the Asset Management Company of Nigeria (AMCON) which owns 60 per cent asset of the airline yesterday announced the dissolution of the board of Aero Contractors and appointed a manager for Nigeria's oldest airline.


AMCON in a statement issued in Lagos yesterday stated that an industry based management team would be put in place to provide the highest level of professional competence which would ensure a quick repositioning of the airline.


AMCON had five years ago bought over debts of Aero Contractors estimated at about $200 million (about N32 billion then).


Read full story: leadership.ng

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