The Asset Management Corporation of Nigeria (AMCON) is looking to dispose of assets such as Aero Contractors (N2, Lagos) and Arik Air (W3, Lagos) before the end of its mandate around 2023/24, Managing Director, Ahmed Kuru, has said.

According to the state-owned restructuring specialist's 2017 accounts, the "2018 financial year may be a very busy year" for AMCON as a result of its proposed disposal of these lead assets.

“I want you to understand that we are sitting on a substantial amount of assets, which we must one way or the other resolve on or before our sunset, which is around 2023/24," Kuru was quoted by ThisDay. “As I said earlier, we will deal with some of those key assets very soon like the Peugeot Nigeria Limited in Kaduna, Consolidated Discounts Limited (CDL), Aero Contractors, Arik Air and a host of others."

AMCON had said in April that it would be willing to exit the aviation sector if Aero and Arik Air's owners paid their debts. AMCON moved against both carriers given their inability to service locally-granted loans which were subsequently acquired by the corporation.

Through receiver management, the corporation took over Aero Contractors, Nigeria’s oldest carrier which is owned by the Ibru family, in 2016, and Arik Air, which owned by Joseph Arumemi Ikhide, in 2017.