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Onuesoke calls for the scrapping of AMCON

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A chieftain of the Peoples Democratic Party, PDP, in Delta State, Chief Sunny Onuesoke, has called for the scrapping of Assets Management Corporation of Nigeria (AMCON).

Onuesoke, who made the call in Abuja,described AMCON as a failed entity for not playing the role of which it was set up.

He said the system between then and now have changed, adding that AMCON was supposed to be about stabilizing the market, but it is doing it the other way round.

He therefore called on the federal government to put into motion the machinery to wind down the operations of AMCON in line with IMF’s recommendation.

The PDP chieftain recalled that a situation where other countries are subsidizing their airlines, AMCOM is killing the ones in Nigeria, noting that the activity of the corporation was eroding investment in the country.

“Is AMCON out there to kill Nigerian companies? You see airlines all over the world are being subsidized by their countries. You took over Aero Contractors and drove the teeming workers into the already saturated labour market. You took over Delta Steel Company (DSC) for almost six years now. You said you are taking it over so as run it effectively. You could not run it. Are you killing our factories? Now it is turn of Arik Air and OAS Helicopters”.


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