Managers systematically plunged Nigerian airline into debt

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Published on April 23, 2017 by admin

Revelations that managers of Nigeria’s grounded airline Arik Air systematically plundered the company, have sparked widespread condemnation Investigations by the Assets Management Corporation of Nigeria show that the former managers deliberately pushed the airline into 1.2 billion dollar debt. International auditing firm KPMG is carrying out a forensic investigation at the company, and it is expected that key managers will be prosecuted. Nigeria’s biggest airlines troubles mounted at the end of last year, when 70% of its international flights were delayed.

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