AMCON Justifies Sale of Arik Air Aircraft as Shareholders Kick – THISDAYLIVE

Chinedu Eze

As the controversy over the sale of Arik Air aircraft rages, the Asset Management Corporation of Nigeria (AMCON), has justified the sale insisting that the aircraft is subject to security in favour of Access Bank.

Last week, reports disclosed that Arik Air under receivership with AMCON dismantled a Boeing B737-700 and sold it.

The PR Consultant to Arik Air in Receivership, Simon Tumba, who confirmed the sale, told THISDAY, “The aircraft was subject to security in favour of Access Bank. The bank provided the relevant security documentation to Arik Air and subsequently to AMCON, and the documentation was verified as genuine. Accordingly, Arik Air and AMCON did not object to Access Bank’s exercise of its security rights, including the sale of the aircraft. We understand that the bank has now completed the sale.”

Tumba also made available to THISDAY the certificate of registration of the aircraft with serial number 36073 and 2007 as date of manufacture with registration mark, 5N-MJD and with the Nigeria Civil Aviation Authority (NCAA) certificate number 1243. It was entered into the register of the federal government on November 30, 2007.

He also sent document of a second aircraft under Access Bank security, another Boeing B737 with registration mark, 5N-MJC, aircraft serial number 33932 and certificate number 1248, manufactured in the same year.

The inscription on the aircraft indicated, “This aircraft is owned by Arik Air Limited and is subject to a charge in favour of Intercontinental Bank Plc. Nigeria (later Access Bank). However, the Arik Air founder and shareholders have insisted that the Access Bank guaranteed a loan the airline accessed from US Exim bank and it had finished servicing the loan before AMCON took over the airline in February 2017.

In a statement signed…