Air Nigeria: Jimoh Ibrahim Throws in Towel, Sacks Workers

Self Acclaimed Business Guru, Jimoh Ibrahim

Air Nigeria may have come to the end of the tarmac, as company Chairman Jimoh Ibrahim has cited employee disloyalty and weak environmental conditions for the folding up of affairs at the airline.

The management of the company issued a statement notifying all its employees of the sack and announcing that it had suspended all its operations locally, regionally and internationally.

The statement accused the staff of the company of disloyalty, probably stemming from the fact that salaries had remained unpaid for over 4 months as the airline was suspended from operating by regulators. Also the international aircraft leasing companies that leased several aircraft to Air Nigeria had repossessed some of their airplanes due to a failure of Air Nigeria to meet its lease payments.

A former Finance Director of the company John Nnorom had accused jimoh Ibrahim of misappropriating billions of Naira given to the airline company by the CBN, and other private banks. For instance, Ibrahim was alleged to have diverted over $30 million  in CBN Aviation sector rescue money to acquire Energy Bank of Ghana.

Speaking on the ailed business, Ibrahim said, “Corporations are like individuals, who naturally will get sick, and the usual thing to do is to admit them to hospitals, either for corporate surgery or for treatment, as the case may be.

“During such period, it is not likely that they will work in full capacity, depending on the nature of the illness.”

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2 Comments

1. 

   bibire

   September 5, 2012 at 8:14 am

   I blame the goverment for being so insensitive by selling companies to a man that nothing ever succeeds in his hands. Global fleet, Nicon, Newswatch, Nigeria Reinsurance, AirNigeria are all shadows of themselves. When he was in CAC he mismanaged things there too.
2. 

   Sandy

   September 5, 2012 at 12:41 pm

   My brother and his family are scheduled to on-board Air Nigeria London to Lagos on the 12th of September on VK 292, please can someone tell me what plans air nigeria has in place to airlift them.
   Thank you