Jimoh Ibrahim appears before Senate, denies diverting N35.5bn aviation intervention fund

Jimoh Ibrahim

Controversial business Mogul, Jimoh Ibrahim, who appeared before the Senate Committee on Aviation and Anti-corruption on Wednesday, said he neither got any loan from the Central Bank of Nigeria through Bank of Industry in the name of Air Nigeria nor diverted N35.5billion Aviation intervention funds to his businesses in Ghana as being alleged.

While responding to interrogation by the Senate Committee Chairman on Aviation, Senator Hope Uzodinma on alleged diversion of N200billion Aviation intervention funds, Ibrahim exonerated himself of any complicity.

Part of his explanation: “In 2010, I bought the assets and liabilities of Air Nigeria which was in the state of comatose with a whopping $250 million debt from the UBA Capital which is a subsidiary of United Bank for Africa, and I did all I could to revive the airline because of the need for air transport and we were flying between Lagos and London after I got some airbus from Egypt on Loan which has fully been serviced.”

“On N35.5billion intervention funds which was part of N200billion, the said funds was applied by air transport operators before he assumed ownership of Air Nigeria and the very day that the N35.5billion was released by the Central Bank of Nigeria, it went into debt servicing and the question of Jimoh Ibrahim knowing about the funds does not arise,” he added.

He lamented that his good name was being smeared, while commending the Senate Committee for having interest in the Aviation Sector.

The Joint Committee Chairman on Anti-corruption, Chukwuka Utazi urged all stakeholders to always reveal the facts while responding to inquiries to enable the Committee have accurate information in the interest of the nation, noting that they were not out to Witch hunt anybody.

Culled From Daily Post