Business Nigeria Senate Says AMCON's Takeover of Arik Air is Belated

The Nigeria Senate has condemned the takeover of the operations of Arik Air, saying the action is late and belated.

The Senate Committee on Banking, Insurance and Other Financial Institutions, made the statement after it reviewed the ugly details that crippled the operations of Arik Air.

The committee however, supported the intervention, saying Arik Air could've avoided the unfortunate situation if it had paid attention to issues of financial management and applied best practices fiscal management.