Arik Air: National Assembly expresses satisfaction with AMCON

After one year of taking over Arik Air, the House of Representatives Committee on Banking and Currency has expressed satisfaction with the level of efforts the Assets Management Corporation Nigeria (AMCON) is making to stabilize the airline.

Chairman of House Committee on Banking and Currency, Hon Jones Onyereri made the position of the House known yesterday after an oversight visit to the airline’s office in Murtala Mohammed Airport 2 in Ikeja, Lagos.

Hon Onyereri who informed that the committee has looked at the issues surrounding Arik Air holistically, stressed that, as it stands, they will be able to give their wise counsel as a committee and then as National Assembly.

Hon Onyereri said, “We are satisfied with what we have seen. I think we are impressed, at least we have seen”.

Noting that many people are thinking that it is the issue of corruption and embezzlement and all that, Onyereri equally pointed out that, in the case of AMCON takeover of Arik, there was nothing of such.

“We need to watch that, but so far, we can tell you that we are impressed because there are no signs of such. But as we watch that, they need to also guide them to make sure that we don’t run into that temptation”, Onyereri said.

On the debt profile hanging on the neck of the airline, the Hounourable member of the House stated that, though, they are worried about the debt but at the same time, very eager to get out of that quagmire.

“We were worried about huge debt profile, we are eager to get out of that quagmire. We are here to encourage them, if you look at the amendment in the AMCON Act, we have provision for a period they would be under receivership. We have the receiver manager and secondly for the receiver manager to bring out a well thought out plan on how to rehabilitate Arik, at least within three months.

That is the plan and then within one year to get them out of the woods. If they can’t get them out of the wood. At least to stabilize them in a way you are sure that Arik will be profitable.

That is why we are here because that is primary responsibility. From what we have seen so far, there is hope for Arik”, Hon Onyereri said.

On the purpose of their visit, the lawmaker said “the primary thing about an airline is the issue of safety. We that extent we are comfortable.

You can see all the spare they have in their store house. It is alarming and encouraging. We are completing impressed. They have brand new tyres, spare for the engine, new engines. That means they can remove old ones and put new ones. That is comforting enough”.