News BREAKING: Nigerian govt takes over distressed Arik Airline, gives lifeline

BREAKING: Nigerian govt takes over distressed Arik Airline, gives lifeline


The Federal Government on Thursday announced a lifeline to financially distressed Arik Airlines to continue to keep it as a going concern in the aviation industry.

The management of the Asset Management Corporation of Nigeria, AMCON, said the decision to intervene clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to prevent a major catastrophe in the country.

“The development will afford Arik Airlines, which is the largest local carrier in the country, 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,” AMCON spokesperson, Jude Nwauzor, said.

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Under the new arrangement, the airline would be managed by Roy Ilegbodu, a veteran aviation expert, under the receivership of Oluseye Opasanya, a senior advocate of Nigeria.

More later…



  1. Some time it seems Nigeria are not serious with there economy for GOD will are giant of Africa .

  2. No business ever succeeds in the hands of a black man. Guinness who I understood started as a truck pusher has his business still waxing stronger several years after his death. Black man with black sense. Descendants of Esau.

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  4. Good for them. Very good for them. Their level of incapacitation and mismanagement is just too much, since last year


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