After Sinking ₦50Bn Into Aviation AMCON Wants FG To Bail Out Sector Over COVID-19

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 159 total views,  159 views today Between 2012 and 2020 Asset Management Corporation of Nigeria (AMCON) injected about N50 billion into the aviation sector solely to stabilize airline operations in the country to stabilise aviation sector in Nigeria. This was disclosed on Wednesday by Mr. Aminu Ismail, the Executive Director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about US$1 billion Non-Performing Loans (NPL’s) from Nigerian banks owed by major Nigerian airlines including Aero Contractors, Arik Air amongst others. Although the aviation sector accounts for around 8 per…

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