The Receiver Manager appointed by the Assets Management Corporation of Nigeria for Arik Nigeria Limited, Mr. Kamilu Omokide, has been detained by the Economic and Financial Crimes Commission (EFCC) on allegations of misappropriation and diversion of approximately N120 billion.
It was reported that Omokide, along with Captain Samuel Caulcrick, was detained by the EFCC in connection with the alleged illegal sale and dismantling of a $41 million CRJ 1000 aircraft operated by Arik Air.
According to reports, the detention of these two high-ranking executives followed a petition filed by human rights lawyer Femi Falana (SAN), who represents Arik Nigeria Limited.
The petition outlined allegations of financial fraud and the sale of assets valued at over N120 billion.
The petition, addressed to the EFCC Chairman, and dated April 27, read, “We are solicitors to Arik Nigeria Limited (hereinafter referred to as “our client”), on whose behalf and specific instructions we write you. Our client operates an airline in the aviation industry by offering air transportation services for passengers and cargo in Nigeria and has been in business since 2006.
“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 manage our client’s assets due to its financial obligation to some banks.
“Pursuant to the said ex parte order, the said receiver manager has been overseeing the affairs of our client’s assets pursuant from 2017 to date. In the course of running the airline business the receiver has engaged in financial mismanagement, diversion of monies, sales of assets and misappropriation of funds belonging to Arik Airline.
The petition provided specific information regarding the purported diversion of funds, sale of assets, and misappropriation of money.
