Shareholders of Arik Air Ltd have written to the airline’s Receiver Manager, Mr Oluseye Opasanya, demanding an explanation over the ongoing dismantling of one of the airline’s aircraft, a Boeing 737-700, at the domestic wing of the Murtala Muhammed Airport (MMA), Lagos.

The shareholders, through a letter signed by a major shareholder, Johnson Arumemi-Ikhide, dated August 17, 2026 and sighted by The Guardian, said they had observed what appeared to be the ongoing dismantling of an aircraft belonging to the airline.

However, the Media Consultant to Arik Air in Receivership, Simon Tumba, had told The Guardian that the aircraft in question was sold after all necessary processes had been followed.

Tumba said the aircraft was subjected to security in favour of Access Bank, adding that the bank had provided the relevant security documentation to Arik Air and subsequently to AMCON.

According to him, the documentation was verified as genuine, and neither Arik Air nor AMCON objected to Access Bank’s exercise of its security rights.

The shareholders’ letter demanded clarification on the identity, ownership and security status of the aircraft.

The shareholders also sought details of the authority and purpose for the dismantling, as well as whether the aircraft or any of its components was connected to the indebtedness allegedly owed by Arik Air to Access Bank.

The shareholders recalled an earlier correspondence from the receiver manager dated October 22, 2024, concerning the alleged indebtedness to Access Bank and the bank’s purported security over Arik aircraft and engines.

They said the requested documentation was neither supplied with the receiver manager’s October 2024 letter nor, to their knowledge, subsequently produced in a satisfactory manner.

The shareholders further stated that they had informed the receiver manager that the matter was also under criminal investigation by a government law enforcement agency.

The development comes amid a long-running dispute over Arik Air’s financial obligations and the status of its aircraft and other assets following the appointment of a receiver-manager by the Asset Management Corporation of Nigeria (AMCON).

The shareholders warned that the dismantling raised serious questions about the preservation of Arik Air’s assets and the manner in which the airline’s affairs were being handled under receivership.

The shareholders also drew attention to Opasanya’s status as a Senior Advocate of Nigeria, saying his professional standing made adherence to the obligations attached to his office particularly important.

The shareholders maintained that their letter should not be interpreted as consent or acquiescence to any dealing involving Arik Air’s assets, adding that the letter was without prejudice to their pending proceedings before the Federal High Court, in which the receiver manager was a party, and to all their rights and remedies.