The Chairman of Arik Air, Sir Joseph Arumemi-Johnson, at the invitation of the House of Representatives Committee on Aviation, appeared before the committee on Wednesday, February 20, 2008, over the concession agreement which ceded the exclusive rights to manage scheduled flights in and out of Lagos to Bi-Courtney Aviation Services.
At the hearing, Sir Arumemi-Johnson said the agreement the government entered into with Bi-Courtney could cripple the aviation industry because it left the fate of the commercial airline operators in the hands of a company to decide with the risk of stifling other business growth.
“Arik is committed to obeying all the laws but we shall contest every effort to cripple our business operations”, he stated.
He said Arik Air has invested about $5.2 billion in the industry in Nigeria, adding that no investor will allow his money to be jeopardized that way.