Arik Air Shareholders Demand Answers Over Aircraft Dismantling

Shareholders of Arik Air Ltd. have formally requested clarification from the airline's Receiver Manager, Oluseye Opasanya, concerning the ongoing dismantling of a Boeing 737-700 aircraft at the Murtala Muhammed Airport in Lagos. The shareholders, led by a major shareholder Johnson Arumemi-Ikhide, expressed their concerns in a letter dated August 17, 2026.

In their correspondence, the shareholders detailed their observation of what appeared to be an aircraft being dismantled. They demanded specific information, including the aircraft's identity, proof of ownership, and its security status. Crucially, they sought to understand the legal authority under which this dismantling operation was being conducted. This inquiry comes amid existing disputes over Arik Air's substantial debts and assets, which are currently under receivership by the Asset Management Corporation of Nigeria (AMCON).

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Your letter of 22 October 2024 asserted an alleged Access Bank indebtedness and security over Arik aircraft/engines. We expressly requested in our letter of 31 December 2024 the underlying documentation, which was not supplied with your letter and has not, to our knowledge, subsequently been satisfactorily produced.

The shareholders also referenced a previous communication from Opasanya dated October 22, 2024, which mentioned an alleged debt owed to Access Bank and the bank's security interest in Arik's aircraft and engines. The shareholders stated that they had requested the underlying documentation for this claim but had not received satisfactory proof. They also noted that the matter is subject to a criminal investigation by a government law enforcement agency.

This situation marks the second reported instance of an Arik Air aircraft being dismantled at the Lagos airport. Previously, in November 2024, the Federal High Court in Lagos granted authorization for parties connected to Export Development Canada to take custody, control, and dismantle a CRJ1000 aircraft, formerly operated by Arik Air. The shareholders stressed that their current letter should not be construed as consent to any transaction involving the airline's assets and is without prejudice to their ongoing legal proceedings before the Federal High Court.

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We have now observed what appears to be an ongoing dismantling of an aircraft at the domestic section of Murtala Muhammed Airport.