Ibru Children Fight Over Aero contractor Shares

There are serious issues going on among the top male kids of Olorogun Michael Ibru. This fight which is amongst Olorun Oskar Ibru, Obeden, Obaro and Peter Ibru, has inhered the take off of Aero Contractors partnership with the Federal Govt over thr National carrier Airline. The young Ibrus, all multi-millionaires are in dogged fight over whether the children of Michael Ibru’s late wife, Elsie, or the children of Cecilia end up controlling the disputed 40 percent shares of Aero Cintractors. Late Elsie bore for Olorogun Michael Oskar, Peter, Gkoria & co. While Cecelia bore him Oboden, Obaro, Osio & co.

This disagreement which has turned into a legal battle between the two fractions of the Ibru Family, has put on hold then Ministry of Aviation’ discussion with the airline on the emergence of a national carrier.

The warring fractions comprise the older offspring of Michael Ibru led by Oskar and Peter Ibru and others borne by the first wife, and the children of the second wife and former ,an aging director of Oceanic Bank Plc, mrs Cecelia Ibru. The older siblings have accused Cevelia Ibru and her children of sidelining them in the running of the Airline over the years and have gone to court to establish the real ownership of the shares of Aero Contractors. however, the Asset Management Corporation of Nigeria ( AMCON) , which acquired 60 percent of the shares of the Airline after it took over its non-performing loans ( NPLS) from the balance Sheet of Oceanic Bank and converted them through debt-equity swap, is making moves to bring both parties to the table to resolve their differences to speed up the take -off dope the proposed National Carrier. The two fractions of the Ibru family are pitched against each other over the control of the Airline which their Patriarch Olorogun Michael Ibru established over 50 years ago.