N387bn debt: Arik founder ‘enjoyed’ federal protection under Jonathan
Dele Ore, immediate past president of the aviation round table (ART), has alleged that under former President Goodluck Jonathan, Johnson Arumeni-Ikhide, chairman of Arik Air, depended on federal protection to hide his shortcomings. Ore said Nigerians were waiting for the KPMG report that would help the government take appropriate action against Arumeni-Ikhide for “deliberately leading the airline to its present pitiable state”. He said it would be appropriate to prosecute him to serve as a deterrent to other business men. “Arumeni-Ikhide previously depended on federal protection, which some us knew would be short-lived as it has eventually played-out with change of government,” he said. “With such huge debt profile no right-thinking government would continue to cover it up, which was why the government ordered Assets Management Corporation of Nigeria (AMCON) to step in the fleet of 30 aircraft was fast disappearing among other discoveries.” Corroborating Ore’s statement, Sina...