THE N300 billion Aviation Intervention Fund provided by the Federal Government for operators in the industry was diverted by many operators, it was revealed yesterday.
Aviation Minister, Princess Stella Oduah, told the Senator Hope Uzodinma-led hearing that she was totally disgusted by what she saw when she assumed office, saying she was thus motivated to seek a review of the aviation fund.
“The intervention fund was in existence before I came but if it was working right. I couldn’t have gone to the Central Bank of Nigeria (CBN) to ask for a review.
“I met the fund but for me to accomplish my mission, I knew that the fund was not helping the industry and, therefore, I went to CBN to ask for a review.
The aviation sector is about to die except we do something urgently and that is why we developed a template to rescue the industry.”
