EFCC charges Arik Air execs, ex-AMCON boss with ₦71bn fraud
The Economic and Financial Crimes Commission (EFCC) has filed fraud charges against Ahmed Kuru, the former managing director of the Asset Management Corporation of Nigeria (AMCON), along with key officials from Arik Air.
The accused include Roy Ilegbodu, Arik Air’s managing director; Kamilu Omokide, the airline’s receiver manager; Union Bank Plc; and Super Bravo Limited. They were arraigned before Justice Mojisola Dada on Monday.
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The defendants face a six-count charge involving the alleged theft of Arik Air’s assets and abuse of office. These charges stem from a petition filed by Femi Falana, SAN, on behalf of Johnson Arumemi, the founder of Arik Air, and the company’s shareholders.
The EFCC alleges that Union Bank misrepresented Arik Air’s loans and guarantees to AMCON, facilitating a fraudulent transfer of ₦71 billion. Additionally, Kuru, Omokide, and Ilegbodu are accused of misappropriating ₦4.9 billion in 2022 for the benefit of NG Eagle Limited, a company they allegedly established for personal enrichment.
The charges also include the destruction of an Arik Air aircraft valued at $31.5 million in February 2022.
Further accusations claim that in 2011, Union Bank provided false information about Arik Air’s financial standing, leading to the transfer of the substantial sum to AMCON. Kuru and Omokide are also alleged to have unlawfully incorporated NG Eagle Limited to serve their personal interests and those of their associates.
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