According to reports, Mr. Kamilu Omokide, the Receiver Manager appointed by the Assets Management Corporation of Nigeria for Arik Air, was purportedly detained by the Economic and Financial Crimes Commission on charges of misappropriation and diversion of approximately N120 billion.

In response to these claims, Arik Air categorically dismissed the allegations as false, asserting that they were fabricated lies and part of a deliberate campaign to defame the Receiver Manager. The airline disclosed that the accusation of misappropriating N120 billion was included in a petition filed by Mr. Femi Falana.

The statement was released by SY & T Communications Limited, the media consultancy firm representing the airline. Mr. Simon Tumba, the Chief Executive Officer of SY & T Communications, stated in the release that the primary focus of the investigation should be Sir Arumemi Johnson, the majority shareholder of Arik Air. Johnson is the guarantor of the N240 billion debt owed by Arik Air to AMCON as of May 31, 2023, making him personally liable for the outstanding obligations.

It further read in part,” This statement is issued on behalf of Arik Air Limited (in receivership) under the leadership of its Receiver Manager, Omokide, Kamilu Alaba, in response to recent media reports concerning an EFCC investigation into the affairs of Arik. These reports have unjustifiably, and without verification of the facts, linked the Receiver Manager of Arik to financial fraud within Arik.

“The investigation is apparently based on a petition filed by Mr. Femi Falana, SAN (the petition) and was instigated by Sir Arumemi Johnson, the majority shareholder in Arik, which owes AMCON about N240 billion as of May 31, 2023. Sir Arumemi Johnson guaranteed, and therefore is by law an obligor in respect of, this indebtedness and is personally liable for them.

“The wild allegations of the misappropriation of N120bn in the petition are manifestly and patently false and amount to no more than well-concocted lies as part of a deliberate campaign of calumny against the Receiver Manager to abort the ongoing receivership in Arik.