April 18, 2026

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We will recover N227 billion Arik Air, says AMCON The Asset Management Corporation of Nigeria (AMCON) says it is determined to recover the over 227 billion naira owed it by Arik Air, regardless of any opposition , blackmail resistance. Head of Corporate Communications AMCON, Jude Nwauzor who made this known at a media briefing on Friday in lagos, disclosed that Johnson Arumemi-Ikhide owner of Arik Air and promoter of two Companies: Rockson Engineering Nigeria Limited, Ojemai farms Limited, and Ojemai Investment Limited already in the kitty of AMCON, owes the corporation over 455 billion naira as at December 31st 2024 Nwauzor while giving a breakdown noted that “These companies’ debt were transferred by various banks to AMCON due to their non performance status with a total indebtedness of N455, 171, 764, 772.80 billion as at December 31 2024. Arik Air which is in receivership owes AMCON N227, 637, 469, 394.34 billion, Rockson Engineering, N163.502, 837,397.75 billion and Ojemai farm N14, 031,457, 980, 71 billion. He alleged that despite this huge debt Johnson Arumemi Ikhide is still spreading falsehood about his indebtedness to AMCON, claiming that Arik Air never defaulted on its payment obligations to Union Bank insisting that he is not owing AMCON “The matter is that no matter the smear campaigning, he is sponsoring against AMCON, these debts must be recovered one way or the other. The leadership of AMCON knows there is no nice way of recovering debt for the obligor go to any length to assassinate the character of both AMCON staff and management, they malign and harass our personal with everything arsenal at their disposal ” “The task of debt recovery has been arduous and challenging, while several thousands of Nigerians and Nigerian Companies have honoured their obligations, AMCON continues to face resistance from a number of debtors who are unwilling to pay without a fight. One of these debtors is Arik Air (in Receivership) an airline owned by Sir Johnson Arumemi-Ikhide, who is also the promoter of Rockson Nigeria Limited, Ojemai Farms and Ojemai investment Limited. These companies debts were transferred by various banks to AMCON due to their performance with a total indebtedness of N455, 171, 764, 772.80 billion as at December 31st 2024 He says part of the reasons for AMCON’s intervention in Arik air was to save the company from eminent liquidation saying that “it was the banks that handed over the bad loan called Arik to AMCON as they were not performing adding that AMCON guided by the Act establishing it also empowers them to purchase manage and dispose EBA–Eligible Bank Assests which includes Arik Air. ” He disclosed that some of the consultants that guided Central Bank, Arik and AMCON at that time, actually suggested that they should sell everything about Arik because of the huge debt which is irredeemable. Nwauzor revealed that” The option of liquidating Arik Air is still on the table, very much on the table, but we are guided by the Federal government and AMCON act”

Henrietta Oke January 18, 2025 0
    The Asset Management Corporation of Nigeria (AMCON) says it is determined to...
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