EFCC set to prosecute ex-AMCON MD, Arik, Union Bank executives for theft

The Economic and Financial Crimes Commission (EFCC) is set to arraign several prominent individuals linked to the management of Arik Air on allegations of financial misconduct.

Those facing charges include Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON); Captain Roy Ilegbodu, the current Managing Director of Arik Air; Kamilu Omokide, the airline’s Receiver Manager; Union Bank PLC; and Super Bravo Limited.

The arraignment will take place at the Special Offences Court in Ikeja, Lagos, presided over by Justice Mojisola Dada.

The six-count charge involves accusations of asset theft, office abuse, and fraudulent financial dealings.

The charges stem from a petition filed by Johnson Arumemi, the founder of Arik Air, and its shareholders, represented by legal counsel Femi Falana, SAN.

Key Allegations:

1. False Statement by Union Bank: Union Bank is accused of falsifying statements to AMCON, leading to the transfer of an inflated ₦71 billion in Arik Air loans and guarantees. This is a violation of Section 96 of the Lagos State Criminal Law of 2015.

2. Theft and Fraudulent Conversion:

Ahmed Kuru, Kamilu Omokide, and Captain Roy Ilegbodu allegedly diverted ₦4.9 million to NG Eagle Limited in 2022, violating Section 278(1)(a) of the Lagos State Criminal Law of 2011.

Captain Ilegbodu is further accused of misappropriating ₦22.5 million in May 2024, redirecting the funds to a private individual.

1. Abuse of Office: Kuru and Omokide allegedly formed NG Eagle Limited in 2019 for personal gains, contrary to Section 73 of the Lagos State Criminal Law of 2015.

2. Destruction of Aircraft: In February 2022, the defendants reportedly authorized the dismantling of an aircraft valued at $31.5 million, an act deemed detrimental to Nigeria’s economic stability.

3. Conversion of Aircraft: In November 2023, Kuru, Omokide, and Super Bravo Limited were implicated in the unauthorized appropriation of three Boeing aircraft belonging to Arik Air, an offence under Section 278(1)(a) of the Lagos State Criminal Law of 2011.

These charges reflect ongoing efforts to address alleged financial mismanagement and corruption tied to the airline’s operations under AMCON receivership.