EFCC Raid: NAHCO Awaits Investigation Details

Nahco

The Nigerian Aviation Handling Company has said it is still awaiting details of the investigation being carried out by Economic and Financial Crimes Commission, following a raid on its office in Lagos last Monday.

Operatives of the EFCC had last week stormed NAHCO’s office at the Murtala Muhammed International Airport Lagos, and interrogated some senior members of staff.

Although no documents were taken, some of its key officers were told to report to the EFCC’s office for further investigation.

NAHCO, in a statement, said, “While we await details from the investigating authorities as it is the practice worldwide so as to ensure the protection of both local and international investors’ interests, the event of the past week have been properly managed as to have little or minimal impact on operations and business continuity.

“The Managing Director/Chief Executive Officer, Nobert Bielderman, who was on a short vacation has since returned to the country and is back in the company. We ask for the understanding of all stakeholders at this time.”

It also assured investors, regulators and other stakeholders that it was doing all within its powers to resolve the issue.

It said, “As a publicly quoted company, NAHCO is guided by its apex regulator, the Securities and Exchange Commission, Nigerian Stock Exchange and the listing rules.

“We are also aware of our shareholder rights as enshrined in the Constitution of the Federal Republic of Nigeria, extant rules and the mutual investment protection treaty covering European strategic investors on our board. As such, this information update has become necessary.”

It further pointed out that as a regulated and listed business entity with strong international corporate governance credentials, NAHCO believes that SEC and the NSE should be aware of any petition and were in the best position to provide guidance, proper feedback and/or even sanctions regarding any alleged infractions by a regulated entity.

As part of the ongoing hajj operations, NAHCO also said it would handle an estimated 204 flights from 10 airports around the country

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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