Ace Nigerian journalist and founder of West Africa Week journal, Mr. David Hundeyin, has asked the Global Chairman of Fairfax Africa Fund, Mr. Lemedeneh Negatu, to apologise to the public for greed and aiding and abetting crime perpetrated by the former President Muhammadu Buhari government but spearheaded by the former Minister for Aviation, Senator Hadi Sirika, in the botched Nigeria Air hoax.
Mr. Negatu, an Ethiopian-American, it could be recalled, had hailed the Nigeria Air project as a success, adding that “Nigerians now have a world-class national airline”.
Taking to his Twitter handle, @Zemedeneh, Negatu had tweeted:
“Nigeria Air launched yesterday at a historic ceremony in Abuja. The $250 million investment is a partnership between Africa’s two most populous countries – #Nigeria & #Ethiopia. Nigerians now have a world-class national airline. Africa at its best! Congratulations!”
Tweeting a video of the fraudulent Nigeria Air airplane landing in Abuja on June 6, 2023, in another post, Negatu said that Nigeria Air will start operations in the 3rd quarter of the year with up to thirty aircrafts, adding:
*Recruiting pilots, cabin crew, etc.
*Up to 30 Boeing 737MAXs & 787s
*Local & int’l flights to New York, London, Dubai, etc.
*Aviation academy & MRO center
*$1.0 billion revenue
Watch the video clip below:
Meanwhile, according to a document obtained by David Hundeyin, dated May 20, 2022, entitled “Revised Final To Be Included In Shareholders Agreement“, and addressed to members of the consortium bidding for Nigeria Air, Zemedeneh Negatu had, on behalf of the Federal Government of Nigeria, referenced a Joint Venture Partnership arrangement and has invited bidders to submit proposals.
He claimed that his company, Fairfax, has invested almost 3 years conducting very detailed evaluations of the aviation sector in Nigeria and in particular the options for investing in Nigeria Air.
According to him, “the work done by Fairfax included developing a business plan, conducting detailed due diligence (financial & operational) and engaging with numerous key stakeholders.
“The result of all this work led Fairfax to conclude that investing in Nigeria Air will significantly enhance the performance of Nigeria’s aviation sector while also delivering strong financial rewards for investors.
“Therefore, Fairfax proceeded to assemble a world-class consortium (which includes all of you addressed in this letter) to collectively bid to acquire Nigeria Air.”
He noted that the process of acquiring Nigeria Air has been and continues to be long, complicated competitive and expensive, hence, it is necessary that Fairfax remains actively engaged pre and post-acquisition of Nigeria Air since Fairfax is the entity which had invited and assembled all the consortium’s members to invest in Nigeria Air and sustaining the members’ confidence is essential to ensure the success of the acquisition and operation of the airline.
He added that Nigeria Air’s business plan and the terms to be incorporated in all relevant legal documents and agreements will include, amongst other things “Fee”.
He said: “For the services Fairfax has provided and will continue to provide, Fairfax will be paid a fee by Nigeria Air (upon acquisition by the consortium) equivalent to 1.45% of the total initial capital (equity and debt) of the airline.
He also added: “Fairfax shall be responsible for nominating qualified Nigerian companies to provide, catering, onboard duty-free, passenger [and] facilitation and security at competitive rates on a first right of refusal basis for Nigeria Air.”
See the document attached below:
Reacting to the bogus and unfounded claims made by Negatu, Hundeyin, taking to his Twitter handle, @DavidHundeyin, accused him of being motivated by greed of the $3,625,000 brokerage fee he hoped his company, Fairfax, stood to gain instead of fact-checking the white elephant, and asked him to apologise to the public.
Hundeyin tweeted:
“Hi @Zemedeneh, after spending weeks doubling down on these ridiculous claims about a nonexistent “Nigeria Air,” are you going to apologise to the public and admit that you have been shilling this bag of nonsense because of a $3.6m brokerage fee you are hoping to earn?”
In a subsequent tweet, he added:
“1.45% of $250m is $3,625,000. Are you going to apologise for misleading people who would have trusted someone with your career profile to offer a reliable public position? We need answers.”
When News Band checked his “Replies” handle, Negatu has yet to respond to Hundeyin’s challenge.
(News Band)
