The last may not have been heard of the crisis rocking Aero Contractors, Nigeria’s oldest carrier, as it has fired its managing director, Hugh Fraser and chief financial officer, Tunde Pampam, following alleged battle of interest between legacy owners, the Ibrus, and the government owned Asset Management Corporation of Nigeria (AMCON).
A source confirmed to BusinessDay that the duo were sacked last week, adding that “management could no longer condone what was happening”. Aero is believed to be indebted to AMCON to the tune of over N20 billion before the asset company took over its management from the Ibrus.
According to a news wire, there were allegations of Hugh “often taking some decisions against the wishes of AMCON who’s overseeing the running of the airline at the moment”, adding that “he was also frustrated by the alleged inaction of AMCON and the confusion associated with the board, apart from allegations of questionable decisions and allegiance”.