AirNigeria CEO, Kinfe Kahssaye, Resigns

Kinfe Kahssaye
By SaharaReporters, New York

Kinfe Kahssaye, the Chief Executive Officer of AirNigeria, has resigned from the troubled airline.

SaharaReporters learnt that Mr. Kahssaye finally decided to step down yesterday after discovering that the airline was unlikely to return to business. Air Nigeria has been dogged by huge debts owed to commercial banks by its owner, Jimoh Ibrahim. Mr. Ibrahim, a rogue businessman with a reputation for taking over well-known businesses and then running them aground, has been unable to meet his airline’s obligations to service providers in Nigeria and around the world.

A source at the grounded airline told SaharaReporters that Mr. Ibrahim’s inability to provide funds to get the last two planes in the airline’s fleet airworthy led to Mr. Kahssaye’s decision to resign his appointment yesterday.

Mr. Kahssaye recently returned from trips to the US and the UK. A source disclosed that the overseas trips were a desperate attempt to revive the comatose AirNigeria. “He found out during the trips that the dream of saving the airline is a hopeless one,” said our source.

The virtual collapse of the airline adds to the business woes of its owner, Mr. Ibrahim. The shady businessman is also embroiled in a public and legal feud with the original directors and founders of Newswatch, Nigeria’s premier news magazine. After acquiring controlling stakes in the magazine, Mr. Ibrahim made a bizarre decision to shut it down. The original founders, including the magazine’s CEO Ray Ekpu, accused Mr. Ibrahim of fraud, asserting that he had not paid the agreed sum for his majority stake in the weekly publication. The Newswatch case is headed for the courts.

Recently, Mr. Ibrahim unilaterally fired majority of workers at the airline with due process, the workers in turn embarked on street protests to push back against the businessman.

SaharaReporters learnt today that Mr. Ibrahim’s workers at his Abuja NICON Luxury Hotels are gearing up for a protest tomorrow in Abuja over poor conditions of service and nonpayments of wages.

Mr. Kinfe is owed five months of unpaid wages according to insiders knowledgeable about his resignation.

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answer this post

That's understandable that cash makes us disembarrass. But how to act if someone has no money? The one way only is to receive the loan or just commercial loan.

Identification

Please reveal your identity so we can confirm that this bastard has been paying NICON salaries or Just yours because you can be like that of KINFE obedient dog that eats its vomits

Jimoh et all

Jimoh is the fall guy.The big actors are behind the scene pulling all the strings.Of course Jimoh will not fall, the ruiners of modern Nigeria would provide him soft landing.(Except he did not deliver o!)Like uncle Bode, then they will make him fall yakata

Their mission - Access the 39billion aviation intervention funds and share it.

Mission has been accomplished, and the staff and unpaid vendors can go to rot, who cares.

This is their Nigeria for you

At least this man is not IBO

At least this man is not IBO from his name; as we can see there are criminals everywhere in 9ja. Wonder what Ibo haters on this forum have to say about it

JIMOH AND HIS BOSS, THE FIRST MILITARY ADMINISTRATOR OF BAYELSA

Where is Ibrahim Jimoh's Captain and Mentor, that former Military Administrator of Bayelsa State? The whole world will rise and ask Jimoh some day what became of that noble man and how. Its a matter of time. Nigerians know!

Thief from eithiope

When our former executive director finance, opened up the rot in air Nigeria in the month of April 2012, you accused him of various allegation and destroyed the job of 12 chartered accountants working under him. Last week, john nnorom was set free of all accussations. Today, you were asked to resign by jimoh ibrahim.where is our salary, where is vendors money, how did you get the money to buy a house in USA. You and jimoh are the same, men without reputation. You cannot run away with our wealth, eithiope thief. Tell nigerians now, what happened?

The idiotic kinfe

Kinfe and jimoh grounded our national carrier. In countries like china, you should be shot or jailed. You and jimoh sacked 870 staff,you are a disgrace. The federal govt should set up aviation fraud trial like the oil thieves.jimoh and Kinfe should spend the rest of their life in jail. Kinfe, shame, dishonour and disgrace to you including your boss jimmy araba

The idiotic kinfe

Kinfe and jimoh grounded our national carrier. In countries like china, you should be shot or jailed. You and jimoh sacked 870 staff,you are a disgrace. The federal govt should set up aviation fraud trial like the oil thieves.jimoh and Kinfe should spend the rest of their life in jail. Kinfe, shame, dishonour and disgrace to you including your boss jimmy araba

Kinfe, you are a coward

Kinfe, you sacked 72 staff of air Nigerian staff and told us, it was our former edf. Foolish Kinfe, you transferred out our oga eng James ominiyi before we went on strike. You were power drunk. When our former director of finance came out smoking on the high level of fraud in air Nigeria and predicted all these things 6 months ago, you joined jimoh ibrahim to persecute him with false accusation. Now, John Nnorom has been discharged and acquitted on same allegation of conversion. You are just a clone coward. You must be tried for criminal offence in nigeria

Dog eats dog

Kinfe, you were the (a) signatory to all air Nigerian transaction that enable jimoh ibrahim to divert 35.5billion naira federal govt intervention loan from bank of industry guarantee by united bank for Africa. You approved the stealing of n6billion naira from sales proceeds. Kinfe you approved that £40millions afrixim loan given to air Nigeria should be used to buy energy bank of Ghana and former oceanic bank in Sao tome.jimoh ibrahim was never a signatory to these accounts transfer and you did not decline approval all these while, who is fooling who, dog eat dog.

Jimoh jimoh the governor of Ondo State

It is a pity that Nigerians celebrate thieves and arrogant bastards because they know how to perfect the act of stealing.
Jimoh is an unrepentant dubious personality, with his so called wife Dupe, right from the time at his law chambers at Akowonjo, where he used and unceremoniously fired a very nice guy who worked day and night at his chambers.( Williams) , after owing him his well deserved salaries.
Is just that most people do not realise the depth of this guy wickedness and callousness, you will agree with me that he is nothing but a demonic, greedy and very cunning individual, he thrives in cheating and stealing.
My prayer is that the many sweats of the millions and uncountable innocent people he has cheated over the years will continually cry to God for revenge. It is all a matter of time.

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response

Why attack the Sahara Reporters? I expect you would exhibit some decorum.

Anyway, I'm inclined to believing the story. What happened at NICON Insurance? It seems your principal has knack for asset stripping when he gets his claws on any corporation. If he hasn't started it your hotel, then you guys will need to watch out for red flags. Just saying.

Have a great day/

A Country Of Lawlessness

Jimoh is taking advantage of Lawlessness and his friendship with govt of the day. Jimoh can only be apprehended if he goes to another west africa country where Air Nigeria left staff and customers with no option to what's next. He has not paid refunds for unused tickets and Salaries!! Very Sad a Nation.

Billions of Air Nigeria Intervention Fund

Another scam by those at the top. Where is the Billions of Intervention Fund paid to Air Nigeria? The EFCC and the Police must step into this massive fraud.

Jimoh Ibrahim is s rogue,this

Jimoh Ibrahim is s rogue,this same airline played upon d intelligence of Nigerians when it announced a promo some months ago,only to suspend its operations after a lot of people had bought its tickets,thus making a lot of people to be stranded.those that were stranded abroad had to purchase another airline's ticket.it is very unfair,all because he knows Nigerians are docile,nd even the govt will not question him.what a country!!!

Is it same JIMOH that SAID we PRINT MORE MONEY in Nigeria?

Is this the same Jimoh Ibrahim that said we should print more money?

Why would any self respecting businessman deal with Jimoh: strips businesses of its value, falsely claims money from the FGN for one thing and DIVERTS it for PERSONAL USE? Why he is free can only be due to his support for PDP! He is deadly. Mr. Mr. Kahssaye, take your loss now.

I blame Ray Ekpu, Dan Agbese, Yakubu Mohammed and Soji Akinrinade for dealing with this man that is worst than they come even in Nigeria! "He says in his publication that someone should tell us to stop shedding crocodile tears. There are no crocodile tears, in fact no tears at all. We are just disappointed that a man who went to Harvard could only run a company for 15 months and shut it down when people who never went to Harvard could run it for 27 years without putting a knife through its throat.

http://247ureports.com/newswatch-jimoh-ibrahims-many-lies-founding-direc...

OLE -THIEF

It is unfortunate that people like Jimoh Ibrahim, Wale Babalakin and Co are the one celebrated in Nigeria.They are all rogues.. JI should be preparing for jail at the right time when PEOPLEs GOVT will take over.Well done SR for informing the world of this bastered idiot OLEE

AN ATTEMPT TO DELAY AND DENY JUSTICE

Dear Saharareporters,this is a deliberate attempt by jimoh ibrahim to delay and deny justice.If Knife(his emisary of gloom and slavery) leaves the country we (Air Nigeria staff) may not get justice.
He was jointly sued with jimoh by the National association of airline pilots and engineers(Naape).if he leaves now,his inability to appear in court may delay justice.
This is one of jimoh's antics and scheme.

you are fools

i am a staff of nicon luxury you mentioned in the last paragraph. Bar Jimoh Ibrahim has been paying our salary as when due,infact, he just increased our salary and commended us for working hard. clarify your fact before posting stupid information in order to gain cheap publicity

you are fool, management and staff sahara reporters.

i am a staff of nicon luxury you mentioned in the last paragraph. Bar Jimoh Ibrahim has been paying our salary as when due,infact, he just increased our salary and commended us for working hard. clarify your fact before posting stupid information in order to gain cheap publicity

I AM JIMOH IBRAHIM

I am jimoh,I front for ex-presidents and I was involved with one of Abacha's son.I spread gloom and I owe the world a lot.Oando and conoil will never forget my delayed payment,Air Nigeria staffs will see me and stone me and Nicon staffs are still planning for a protest against me.
Wait a minute,I cheat on my wife,I eat too much and I sleep with my staffs.I even talk too much,most of it to boost my ego since I have inferiority complex.I am so rich but so poor,I have no character and I am without integrity.Please do not cry for me for I am beyond redemption.Signed:Araba

Jimoh Ibrahim

Jimoh Ibrahim is a huge con-master. He did not mismanage the airline, instead he used it to defraud the banks and the fed govt. He got N37 billion stabilization fund from the govt which he diverted into his pocket and then he got the huge bank loans. The wonder of it is that he's protected by law as his liability is limited to his shareholding which value is insignificant. The man is simply using his knowledge of law to steal - his company being a legal entity, separate from him. He loses nothing, but gains so much in bringing the company down. The airplanes, on lease, would be recovered by the leasing company.

If Jimoh is a rogue,why the

If Jimoh is a rogue,why the Federal Govt has not intervened?

no direction

Jimoh,
which school of business did u attend? am just surprised that i can trace u to any sucessful business u ve managed in the past 2yrs.
what a shame! Just go back to school or find yourself a super market business to start from pls.
STOP KILLING OUR ECONOMY!

"Most time we blame the cat and not the keeper of the fish"

"Most time we blame the cat and not the keeper of the fish"

Nigeria is a country where systems have broken down.....??? The same Jimoh will 2mrow buy another company. Before buying (or bidding for) a company is there no due diligence? or more to it Financial status of the buyer?

In the case of Newswatch was it leased to JI or outrightly sold?.

sad

It is Sad this kind of persons who Killed the country are still moving around, while innocent are being killed by B H and in Aluu, hHow I wish Jimoh and his types are the once being killed for Nigeria to move

Birds of the Same Feather

Air Nigeria+Jimoh Ibrahim= failure,Debts etc
Zoom Mobile+Annie Okonkwo= failure,Unpaid Salaries,Operational Debts etc. Why can't this square pegs in round holes learn from Dangote.

WE HAVE MORE CRIMINALS IN

WE HAVE MORE CRIMINALS IN CORPORATE NIGERIA THAN IN PUBLIC SERVICE AND GOVERNMENT.WE ARE A RELIGIOUS LOT BUT YET UNGODLY PEOPLE

Birds of the Same Feather

Air Nigeria+Jimoh Ibrahim= failure,Debts etc
Zoom Mobile+Annie Okonkwo= failure,Unpaid Salaries,Operational Debts etc. Why can't this square pegs in round holes learn from Dangote.

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