Aviation

EFCC Detains Top AMCON Official Linked With N120bn Fraud In Arik Air

EFCC has detained one of the top AMCON officials enmeshed in an over N120 Billion fraud involving a popular airway carrier in Nigeria, Arik Air.

BrandNewsDay eports that the Economic and Financial Crimes Commission (EFCC) has detained the Receiver Manager appointed by the Assets Management Corporation of Nigeria (AMCON) for Arik Nigeria Limited, Mr Kamilu Omokide, over alleged misappropriation and diversion of about N120bn.

This online newspaper learnt that the EFCC detained Omokide alongside one Captain Samuel Caulcrick in connection with the alleged illegal sale and tearing down of a $41m CRJ 1000 aircraft, which was operated by Arik Air.

Documents obtained by the Punch correspondent on Friday revealed that the detention of the two top executives was a sequel to a petition written by human rights lawyer, Femi Falana (SAN), who is a solicitor to Arik Nigeria Limited.

Advertisement

The petition detailed how there had been alleged financial fraud and sales of assets worth over N120bn.

The petition, addressed to the EFCC Chairman, and dated April 27, reads, “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.

Advertisement

“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 Airlines.

The petition listed the details of the alleged diversion of money, sale of assets and misappropriation of funds.

Facebook Comments
Advertisement
Brand News Day

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

3 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.