EFCC Probes Arik Air Ownership Structure, Funding

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December 08, 2006



<p>Officials of the Economic and Financial Crimes Commission (EFCC), on Tuesday visited the head office of Arik Air Aviation Centre Lagos, asking questions on its ownership structure and the source of its funding. They were received by top officials of the airline. <o:p></o:p></p>


<p>The company’s Head of Communications, Gbemiga Ogunleye, who confirmed this on Thursday, said during their visit, the EFCC officials were civil, courteous, professional and efficient in the manner in which they asked questions. <o:p></o:p></p>


<p>Although details of their findings were not revealed at press time, Ogunleye said \"Arik sees the EFCC visit as normal and routine and aimed at ensuring good corporate governance\"<o:p></o:p></p>


<p>\"For the avoidance of doubt, Arik Air is a privately owned Nigerian Company with a Board of Directors headed by Sir J.I Arumemi-Johnson. He is also the founder of Rockson Engineering Company Ltd. The shareholders of Arik Air are registered with the Corporate Affairs Commission (CAC) in compliance with the Companies and Allied Matters Act (CAMA).\" <o:p></o:p></p>
<p>Ogunleye noted that Arik Air as an indigenous company was proud to be a beneficiary of Federal GovernmentÃÃâ€


’¢â‚¬â„¢s economic reforms programme, which made it possible for genuine Nigerian investors to access funds from international financial institutions. <o:p></o:p></p>


<p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0pt;\"><span lang=\"EN-GB\">\"This in turn has facilitated the launch of a truly Nigerian airline with new aircraft and the highest standards of safety and reliability. This is evidenced by the fact that Arik has entered into service three new CRJ900 aircraft, two of which have been financed by an international export credit agency following rigorous due diligence<span style=\"font-weight: bold;\"><span style=\"color: dimgray; font-style: italic;\">.- independent&nbsp;</span></span></span></p>

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