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Arik Air New Investors Set to Offset AMCON Debts

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Indications have emerged that owners of Arik Air, currently under receivership, have concluded arrangement and got a firm commitment from a major investor from the Middle East to partner with them to offset the debts the airline owed Asset Management Corporation of Nigeria (AMCON) and other creditors.

This negotiation was confirmed by the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide .

According to one of the owners, who spoke under condition of anonymity, “the airline shareholders have held series of meetings with other investors but has reached firm commitment with this Middle East-based conglomerate, which has its headquarters in Dubai with interest to do business in Africa”.

He said the company “ had voted funds to investment in airline business, power and agriculture and it was attracted to Arik Air, which would serve as platform to invest in air transport in the continent, as the continent has been projected as new bastion of hope for economic development in the world”.

The shareholder further said “ Arik Air and the company started negotiation last week in London and have reached some commitments and a team has been selected by each company to continue with the negotiations, which continues this month”.

“The plank of discussion is on the shareholding and the depth of the debts, which creditors must back with evidence, and also operational conditions”.

Meanwhile, the negotiation was confirmed by the Chairman of Arik Air, Sir Joseph Arumemi-Ikhide. Arumemi-Ikhide who was on a medical trip to London, said the investor has started negotiation with the shareholders of the company and so far both parties had had fruitful discussions as negotiation continues. There are also indications that concerned government officials are aware of the meeting between Arik and the investor.

Another source also disclosed that the “new investing company is willing to build maintenance, repair and overhaul (MRO) facility in Nigeria if government gives it the needed support because it has voted funds to invest in Africa”.

“We have been having discussions with investors and 10 days ago we had discussion with a US-based company, but we are having serious discussion now with this organisation, which is based in the Middle East because they have a package to invest in Africa and take advantage of the growing economy in the region. We have reached agreement on what I will call the sub-heads but the details will come out in our next discussion, but so far the discussion has been fruitful”.

“They are interested in expanding our operations and will give us additional airplanes in addition to the six we ordered from Boeing; so we have to expand our operations throughout Africa and other international destinations with their partnership. They are eager to invest in Nigeria but, of course, with the support of the Nigerian government and they said that government support is crucial because you cannot really succeed in airline business without government’s support and that is necessary for them to invest in Nigeria or they will take their funds to another African country,” the source said.

The informed source further said that Arik Air shareholders are putting a strong team for the next round of discussion, including Deloitte UK, Barclays Africa and UK-based law firm.

Recall that AMCON had maintained that Arik Air owed it N263.7 billion, but the former management of the airline had argued that its total debt exposure,

“including that of international creditors and local debts amounted to N160 billion, which represents a 16.4 percent of its value put at $3.2 billion by Deloitte UK in 2013”.


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WHO Says Ebola Outbreak Worse than Reported

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World Health Organisation (WHO) at the weekend declared the Ebola outbreak linked to the rare Bundibugyo virus strain a global public health emergency.

WHO Says Ebola Outbreak Worse than Reported

WHO said there is currently no approved vaccine or specific treatment for this strain of Ebola.

At home, Nigeria Centre for Disease Control and Prevention (NCDC) said there is “no confirmed case of Ebola Virus Disease in Nigeria” but had  tightened surveillance against the deadly virus.

The outbreak, linked to the rare Bundibugyo strain of Ebola, has already caused dozens of deaths in Congo and spread into Uganda, raising fears of wider transmission across the region.

In response, Nigeria Centre for Disease Control and Prevention said that the country remains on alert because of growing movement across African borders.

Jide Idris, director-general said the agency was “closely monitoring the situation” and working with the Port Health Services and other health agencies to strengthen preparedness nationwide.

He added that surveillance has been increased at entry points and within Nigeria’s health system.

According to the WHO, the outbreak has recorded more than 240 suspected cases and about 80 suspected deaths in Congo’s Ituri province, while imported cases have also been confirmed in Uganda’s capital, Kampala.

The WHO said the outbreak is “extraordinary” because of uncertainty around the true number of infections and the lack of approved medical countermeasures for the Bundibugyo strain.

Health authorities advised Nigerians to maintain proper hygiene, avoid contact with infected persons and report symptoms such as fever, weakness, vomiting and bleeding to the nearest health facility immediately.

Nigeria was declared Ebola-free in 2014 after successfully containing an outbreak brought into the country by an infected traveler from Liberia.

 

 


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Digital PayExpo 2026 to Convene Africa’s Most Influential Payments Leaders in Lagos

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Africa’s digital payments ecosystem will take center stage as Digital PayExpo 2026 returns to Lagos on June 17–18, 2026, at the Landmark Centre, Victoria Island, under the theme: “Seamless Digital: Fostering Pan-African Market Expansion in the AI Era.”

At a time when artificial intelligence, cross-border commerce, and financial inclusion are redefining Africa’s economic future, the event is set to convene over 3,000 senior executives, policymakers, fintech innovators, and global technology providers.

The speaker lineup reflects a powerful blend of regulatory leadership, private sector innovation, and pan-African expertise.

Among the headline speakers:

  • Dr. Rakiya Yusuf, Director, Payment Systems Supervision, Central Bank of Nigeria — a key architect in Nigeria’s payment system reforms.
  • Dr. Folasade Femi-Lawal, Country Manager & Area Business Head (West Africa), Mastercard — a leading voice in digital payments expansion across Africa.
  • Clara B. Arthur, Managing Director, GhIPSS (Ghana) — driving Ghana’s interoperable payment ecosystem.
  • Wacera Maina, Chief Operations Officer, Kenwitch Kenya — an expert in East Africa’s payment infrastructure evolution.
  • Akeem Lawal, CEO, Interswitch Group — a pioneer in Africa’s fintech growth story.
  • Ngover Ihyembe-Nwankwo, Executive Director, NIBSS — shaping Nigeria’s core payment infrastructure.

The conference will explore:

  • AI-powered financial services
  • Cross-border payment systems and interoperability
  • Cybersecurity and trust frameworks
  • SME financing and financial inclusion
  • Infrastructure for a unified African digital economy

With participation from banks, fintechs, telcos, regulators, and global payment networks, Digital PayExpo 2026 is positioned as a critical marketplace for ideas, partnerships, and investment flows. Register: https://digitalpayexpo.com/register
Sponsorship Enquiries: [email protected]


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Only 1 in 3 Families Fully Secure their Devices, Kaspersky Study Reveals

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On International Day of Families observed on May 15th, a global Kaspersky study* reveals that while 47% of respondents talk about online safety, only 33% secure all their family devices – highlighting the need for proactivity from Family Digital Managers.

As online threats develop and every generation joins the online space, cybersecurity habits have become an essential part of life for every family. Typically, in every family, one or two people become so-called Family Digital Managers, responsible for managing subscriptions, setting up new devices, or thinking about cyber protection. Kaspersky has conducted a survey to find out what measures modern families take to stay safe online.

According to Kaspersky’s data, a significant portion of respondents adopt an educational approach to cybersecurity within their families:

47% regularly coach elderly relatives and children on safe online practices

45% advise family members to adopt password manager solutions

42% encourage the use of multi-factor authentication (MFA)

An equal 42% actively review and adjust privacy settings on both family devices and critical online accounts

Although a growing awareness of the importance of proactive, family-focused digital protection can be observed, when it comes to the implementation of security solutions, the trend is slightly different. 10% of respondents take no measures at all to protect their loved ones online, rising to 21% among those aged 55+.

As for the parental control apps, 67% of families with children under 18 years use this tool to monitor and secure their kids’ online activity. Parental control, such as the Kaspersky Safe Kids solution, can help restrict children’s access to inappropriate content and also gently manage their online habits by limiting access to certain websites and apps, controlling their screen time, and even enhancing their physical security by tracking their geolocation.

The most worrying number is that only 33% of respondents – just 1 in 3 – install security solutions on all family members’ devices. Kaspersky experts highlight that the current threat landscape shows that mobile devices and tablets as well as PCs all require comprehensive cyber protection, as they are often targeted by cybercriminals.

According to the survey, only 30% of respondents set up new devices for their families. Setting up a new device is not often regarded as a step that contributes to cyber safety; however, some actions performed before the device is put into use can significantly enhance its security.

For instance, experts recommend installing a security solution first, to scan the device for hidden threats and make web browsing safe from the first queries. What’s more, reviewing privacy settings on a new device allows you not to share data that you would like to keep private with some applications and services.

The research also shows that the older generation (55+) is generally less included in family security habits. Around 1 in 5 (21%) of this age group globally do not take any measures to protect their family online and only a quarter (24%) install security solutions for family members. The most popular security measure among them turns out to be a password manager, as 40% of this age group recommend their family members to use it.

“We are now using a lot of gadgets and digital services, and with every new device and every additional hour spent online, the potential entry points for cybercriminals continue to grow, exposing us to a wider range of cyber threats. At the same time, not every generation adapts to these rapid changes with the same ease.

“That’s why having someone in the family take on the role of a ‘Family Digital Manager’ can be so valuable, especially when it comes to protecting kids and elder people from digital cyberthreats, give advice and help with the use of trusted security solutions,” comments Brandon Muller, Technical Expert at Kaspersky.

 


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