By Ayomide Otitoju
The Economic and Financial Crimes Commission (EFCC) is set to arraign several individuals, including the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and the current Managing Director of Arik Air, Captain Roy Ilegbodu, before the Special Offences Court in Ikeja, Lagos. The arraignment, scheduled for today, involves a six-count charge of alleged theft and abuse of office related to Arik Air’s assets.
Also to be arraigned are Kamilu Omokide, the receiver manager of Arik Air, Union Bank Plc, and Super Bravo Limited. The charges stem from the alleged fraudulent activities concerning Arik Air’s property and finances. The complainants in the case are Arik’s founder, Johnson Arumemi, and its shareholders, with legal representation from Senior Advocate of Nigeria, Femi Falana.
Allegations and Charges
In the first charge, Union Bank is accused of making false statements to public officers, resulting in the unwarranted sale of Arik Air loans and bank guarantees. The bank allegedly submitted misleading information to AMCON regarding Arik Air’s performing loans, which led to a misrepresentation of the amount owed, totaling N71 billion.
Other charges include allegations of fraudulent conversion and theft of Arik Air’s assets by Kuru, Ilegbodu, and Omokide. Specifically, in 2022, the trio is accused of illegally transferring N4.9 billion to NG Eagle Limited, a company they allegedly controlled. In another count, Ilegbodu is accused of stealing N22.5 million in May 2024 by fraudulently converting the funds for personal use.
The charges also involve allegations of abuse of office, with Kuru and Omokide accused of incorporating NG Eagle Limited to gain undue advantage. Additionally, they are alleged to have authorized the destruction of a Boeing aircraft valued at $31.5 million, a move claimed to be detrimental to both Arik Air and Nigeria’s economic stability.
In the final count, Omokide, Kuru, and Super Bravo Limited are accused of dishonestly converting three Boeing aircraft, valued at millions of dollars, to the use of Super Bravo Limited in late 2023.
These charges carry significant penalties under the Criminal Law of Lagos State. The arraignment marks a crucial step in ongoing efforts to address alleged fraud within Nigeria’s aviation and financial sectors.
