Nigerian Government Takes Over Arik Air

By News Editor 2 years agoNo Comments
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The Asset Management Corporation of Nigeria – an agency created and run by the Nigerian government, designed to protect banks from financial collapse – has taken control of Arik Air, Nigeria’s largest airline. Following trouble last year that saw over 70% of international flight canceled and the revelation of Arik’s astonishing debts, the Nigerian aviation industry concluded that the collapse of Arik could be catastrophic to Nigerian aviation.

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