AMCON employs KPMG to audit the finances of Arik Airlines


Few days after taking over the operations of Arik Airlines, AMCON has required the services of KPMG to audit the finances of Arik Air.

The move was said to determine its true financial status. AMCON revealed that Arik Air owed over NGN300 billion to workers and banks.

 AMCON, requires KPMG to undertake a forensic and diagnostic audit to examine the accounts of the airline from its inception till January 31, 2017, nine days before it was eventually taken over by AMCON and presents the result in 3 months. KPMG’s review would, among other things, cover the position of assets and liabilities and their utilization.

“We have hired KPMG to look into the financials of Arik with a tooth comb and advise us with verifiable facts on what went wrong with the airline,” AMCON explained. “We need to do that because the outcome will help us plug the loopholes and stabilize the airline. The whole intention is to identify what went wrong with Arik to enable the new management to bring it back to full operations.”

The immediate past President of the Aviation Round Table (ART), Capt. Dele Ore, did not look perturbed by the situation tho he insisted that the problems were caused by failure of Arik Air to pay up bills as at when due is what affected them.

Mr. Dele further frowned at the a the appointment of the Deputy Managing Director of the distressed airline, Capt. Ado Sanusi, as the new helmsman in another distressed airline under AMCON control, Aero Contractors.

“I am lost for words as to what informed the government to make Capt. Ado Sanusi to become Mr. Quick-fix and messiah of Aero Contractors!

“Whether national carrier, flag carrier, world carrier or even no carrier, the Nigerian government should hasten the final payment and rehabilitation of the staff of the liquidated Nigerian Airways. The shoes of Nigerian Airways will continue to be too big for anybody to step into until obnoxious policies are addressed; until the ever so important issue of the Maintenance, Repair and Overhaul (MRO) facility is resolved; expensive fuel made a thing of the past; security issues resolved and the reality of foreign exchange put to rest.”