Nigerian regulator confirms Med-View Airline AOC expired

Bank seizes properties of Nigeria's Med-View Airline

Stricken Med-View Airline (Kano) has hit out at First Bank of Nigeria Limited for allegedly seizing properties belonging to the airline to retrieve debts of NGN4 billion naira (USD9 million), according to local media reports.

On December 5, the bank reportedly attached two properties in Ikeja and Lekki owned by the airline in what the airline's lawyer labelled a violation of due legal process.

Advocate Lawal Pedro claimed the seizure contravened an ex-parte order by the Lagos High Court on November 22, 2022, insisting that the judge did not order the bank to take possession or seal the properties belonging to the airline. Instead, he claimed, the court had ordered the preservation of the airline's assets (staying a sale or other alienation) pending compliance with a pre-action protocol procedure by First Bank of Nigeria, which was yet to file an action in respect of the debt.

The advocate said a separate order by the High Court secured by the bank on November 22, 2022, only permitted the bank to seize the residence of Med-View...

Nigeria's Med-View Airline under graft spotlight

Nigeria’s Economic and Financial Crimes Commission (EFCC) has confirmed it is investigating Med-View Airline (Kano) Chief Executive Officer Muneer Bankole in connection with the diversion of funds for Hajj operations.

Nigerian news reports said EFCC spokesman Wilson Uwujaren had confirmed Bankole’s was detained on January 31 at the anti-corruption watchdog’s head office in Abuja to answer questions relating to USD900,000 allegedly paid to him by the National Hajj Commission for the airlift of pilgrims in 2019. The contract allegedly was never executed.

Bankole was not immediately available for comment.

Med-View Airline in September last year was reportedly planning a comeback after a hiatus of more than two years. It is the only Nigerian carrier listed on the Nigerian Exchange (NGX) but has been grounded since 2019 due to a lack of equipment.

The airline used to be a major player in the Hajj and Umrah markets, but the cancellation of the pilgrimage for two consecutive years by Saudi Arabian authorities due to COVID-19 negatively impacted its business.

Fuel supplier Asharami Synergy...

Nigeria's Medview Airline planning a come-back

Nigeria’s Med-View Airline (Kano) plans to restart operations after more than two years of inactivity, according to a company disclosure to the Nigerian Exchange (NGX).

The airline, the only carrier listed on the Nigerian bourse, has been grounded since 2019, reportedly due to a lack of equipment.

A notice on September 1 to the NGX signed by the executive director (business development & commercial), Na’Allah Isiaq, said a virtual board meeting scheduled for September 20, 2021, would consider, amongst other things, the restart of operations.

The meeting would also discuss the appointment of a new chief executive officer and chief operating officer, as well as the appointment of a new company secretary. This followed the resignation of company secretary Abdullahi Adam Al-ilory on August 13. G.Elias & Co. has assumed the role of the company secretary in an acting capacity until the Board meeting, according to a separate filing on September 3.

The airline used to be a major player in the hajj and Umrah markets, but the cancellation of the pilgrimage...

Nigeria's Med-View Airline retires only B777