Reps to visit Arik, Aero airlines

The Chairman of House of Representatives Committee on Banking and
Currency, Hon. Sir Jones Chukwudi Onyereri Tuesday in Abuja said the
House of Representatives of the Federal Republic of Nigeria will soon
pay a visit to Arik and Aero airlines for what he described as on the
spot assessment of recent positive developments at the two airlines
since they were taken over by the Asset Management Corporation of
Nigeria (AMCON).
Hon. Onyereri who made the declaration when he led the members of the
committee to their routine oversight function at the Corporate Head
Office of AMCON in Maitama, Abuja noted that members of the House of
Representatives Committee on Banking and Currency owe it a duty to
Nigerians to visit some of the critical institutions AMCON was
mandated to take over in the interest of the nation.
He said, “As a matter of fact, apart from coming here (AMCON) today to
carry out our routine oversight function, which necessitated this
briefing with the management and staff of AMCON led by Mr. Ahmed Kuru,
Managing Director/Chief Executive Officer, we need to particularly pay
a visit to Arik and Aero Contractors airlines to know for ourselves
and on behalf of all Nigerians what is going on at those airlines.
There are positive reports emanating from the two airlines since the
involvement of AMCON but it is our duty to ensure that the right
things are done in both airlines for the continuous growth and
development of the aviation sector and Nigerian economy in general.”
He further said the committee’s visit to AMCON was in order because
the Corporation is an interventionist institution of the Federal
Government, which falls under the purview of the House Committee’s
oversight function. Again he said, “We are here to review the 2017
budget performance of the corporation vis-à-vis what was approved for
them and the outcome would help the committee make projections and
also provide guidance as the case may be against the budget defence
slated for February 28.”

Welcoming the committee at about 1.30p.m. in the company of the other
Executive Directors of AMCON, Kuru remarked that it is always
rewarding and a good feedback mechanism to have the committee come
around for oversight function because it affords AMCON the opportunity
to rub minds with the legislature as well as draw from what he
described as the “legislative wealth of knowledge.”
The AMCON boss however assured the committee that the incumbent
management of AMCON has remained prudent and would continue to
persevere in the face of adversity posed by the challenging economic
realities in the country, which is improving by the day.
Again Kuru said, “2017 was quite challenging businesses in the
country. At AMCON, we are sitting on a lot of assets because of the
unstable liquidity situation and as you know most of our assets are
challenged one way or the other. But with things looking up in 2018,
AMCON’s projection looks positive. However, we will continued to be
prudent in terms of our spending and running cost generally.”