EFCC detains AMCON manager over N120bn fraud in Arik Air

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EFCC

EFCC Detains Receiver Manager Over Alleged Financial Fraud and Asset Sale in Arik Air Case.

 

The Economic and Financial Crimes Commission (EFCC) has taken into custody Mr. Kamilu Omokide, the Receiver Manager appointed by the Assets Management Corporation of Nigeria for Arik Nigeria Limited, over accusations of misappropriation and diversion of approximately N120 billion.

 

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It was revealed that the EFCC detained Omokide and Captain Samuel Caulcrick in connection with the alleged unauthorized sale and dismantling of a CRJ 1000 aircraft worth $41 million, which was operated by Arik Air.

 

Documents obtained by our correspondent indicated that the detention of these two high-ranking executives was a result of a petition submitted by human rights lawyer Femi Falana (SAN), who represents Arik Nigeria Limited. The petition provided a detailed account of alleged financial fraud and the sale of assets valued at over N120 billion.

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Addressed to the Chairman of the EFCC and dated April 27, the petition stated, “We are solicitors to Arik Nigeria Limited, on whose behalf and specific instructions we write to you. Our client is an airline operating in the aviation industry, providing air transportation services for passengers and cargo in Nigeria since 2006.

 

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“In compliance with an ex parte order of the Federal High Court, Lagos Judicial Division, the Asset Management Corporation of Nigeria appointed a receiver manager to oversee our client’s assets due to its financial obligations to certain banks.

 

“However, pursuant to the said court order, the receiver manager has been involved in financial mismanagement, diversion of funds, sale of assets, and misappropriation of funds belonging to Arik Airline.”

 

The petition included a detailed breakdown of the alleged misappropriation of funds, diversion of money, and sale of assets.

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