AMCOM visit to Bi-Courtney causes scare

A visit by officials of the Asset Management Company of Nigeria(AMCON) to the Victoria Island headquarters of the Bi-Courtney Aviation Services Limited (BASL) has raised tension in the aviation sector, over fears of a take over.

A similar visit in 2015 led to a threat of its being sealed up, but for the intervention of some stakeholders, which led to the resolution of the argument over unsettled loans owed to AMCON through commercial banks.

The company’s alleged debt, allegedly incurred during the concessioning bid of the Murtala Mohammed Airport 2 (MMA2) in 2007 by Bi-Courtney, is still under dispute.

But series of court cases over the matter, including the amount that the BASL said the government is owing it, complicated the matter.

However, neither AMCON nor officials of the aviation company agreed to make comment on that, though the company’s chairman, Dr. Wale Babalakin had, while briefing newsmen at a public function, to mark the 10th anniversary of his firm’s takeover of MMA2 management insisted that despite the erroneous impression being created in some quarters, it is rather the Federal Government that has been owing BASL a total sum of N200 billion.

This, he stated, is despite the Federal High Court awarding damages of N132 billion to Bi-Courtney Airways Limited.

According to Babalakin, the agreement signed with government stated that all domestic operations from Lagos must emanate from the MMA, an agreement that Arik Air flaunted leading to some arbitration and court cases that ended up in BASL’s favour.

Six appeals against the judgment in the Court of Appeal have been dismissed, including the appeal to the Supreme Court by Arik Airlines, which was also dismissed.

Going down memory lane, the chairman stated that MMA2 was built on the premise that all domestic flights from Lagos state must be operated from MMA2 and to ensure compliance government closed down the GAT completely.

“But one day, we woke up to discover that Arik has started flying from the GAT in defiance to the agreement. And then we went for arbitration.

“In 2012, court ruled in our favour for damages of N132 billion, everyone went to Appeal; Federal government, FAAN, NUATE, ATSSSAN, in all there were six appeals and all were dismissed.

:And based on a court resolution, it was agreed that since FG owed BASL and AMCON Is a parastatal of Federal Government that the debt be taken from there. So based on Nigerian laws, Bi-Courtney owes no dime to AMCON,” he stated.

Also dismissing any link of any visit by AMCON officials on any outstanding loan by BASL, its Chief Executive Officer, Captain Jari Williams, said any of the regulatory agencies usually call on the company whenever the need arises, as a routine exercise.

“The company”, he stated, “is in the good books with every agency, or corporate organizations or persons, as it is working towards helping the sector create over 100,000 jobs.”

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