Asset Management Corporation of Nigeria (AMCON) has reaffirmed its commitment to recovering over N455 billion in debts owed by Arik Air Limited (in receivership) and its affiliated companies.
Jude Nwauzor, Head of Corporate Communications at AMCON, disclosed this during a media briefing in Lagos, stating that Sir Johnson Arumemi-Ikhide, promoter of Arik Air, Ojemai Investment Limited, and Rockson Engineering Nigeria, has been uncooperative in settling the debts.
Nwauzor described the refusal to repay the loans as a “disservice to the commonwealth and the Nigerian people,” adding that AMCON remains undeterred by alleged smear campaigns against the agency.
“These debts must be recovered one way or the other. The leadership of AMCON, under Mr. Gbenga Alade, will not deviate from its mandate to recover the huge debt owed to the Corporation by recalcitrant obligors,” he said.
According to AMCON, the debts, transferred from various banks due to non-performance, include N227.6 billion owed by Arik Air, N163.5 billion by Rockson Engineering, and N14 billion by Ojemai Investment.
Nwauzor refuted claims by Arumemi-Ikhide that the loans were performing and that the receivership was premature, describing such narratives as misleading.
“If the loan was performing, why was it sold and restructured? Why did he agree to the restructuring if there was no default? The simple answer is that he did not fulfill the agreed terms,” Nwauzor added.
Arik Air was taken over by the Federal Government through AMCON in February 2017 due to its debt profile exceeding N300 billion. Despite legal challenges, the receivership management, led by Captain Roy Ilegbodu, has continued to operate the airline effectively.
AMCON reiterated its resolve to recover the debts in line with its mandate, emphasizing the importance of accountability and transparency in the process.
