Arik Air Founder, Receiver-Manager, Kamilu Omokide Fight Dirty Over Funds’ ‘Diversion’

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The crisis over receivership of Arik Air got messier at the weekend as the Receiver Manager, Kamilu Omokide denied allegation of financial impropriety in the management of the airline. His denial followed an investigation into the affairs of Arik Air by the Economic and Financial Crimes Commission (EFCC) following a petition by the Founder of the airline, Sir. Arumemi Johnson over alleged funds’ diversion and illegal sale of assets, especially some CRJ aircraft in the airline’s fleet.

On the basis of the petition, Omokide was questioned for hours by the EFCC before he was released.

Daily Trust reports that the CRJ 1000 aircraft were leased from JEM Leasing Limited and financed by the Export Development Canada (EDC), a Crown Corporation, wholly owned by the Government of Canada.

EDC over the weekend wrote to the EFCC confirming it was it and JEM Leasing and JEM Air Limited that sold the aircraft.

Speaking yesterday, Omokide stated that the allegations of misappropriating N120bn leveled against him “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.” “Indeed, even on the face of the petition, the claims do not add up to N120 billion. It is made up as a publicity stunt,” the receiver-manager said.

He insisted that the receiver-manager had been transparent in his dealings in Arik, stating that there was no “underhand” sale of assets.

On the teardown of a Boeing 737-700 Aircraft registered as 5N-MJI raised in Arumemi’s petition, Omokide said the aircraft had been abandoned and cannibalised in Malta ever since 2013 by Arik under the then leadership of Sir Johnson, and years before the receivership commenced.

According to the receiver-manager, “this was a professionally taken decision on an aircraft that was Beyond Economic Repairs (BER) and stood the chance of being sent to the graveyard by authorities of the relevant airport in Malta.

“The pre-teardown valuation of the Aircraft by McLarens (a foremost Aircraft valuation company) valued the Aircraft at USD1.5Million. This was however seized by Lufthansa Technik over Arik’s indebtedness incurred pre-receivership,” he added.

“All patriotic Nigerians should be deeply concerned by the influence peddling of a recalcitrant debtor to instigate security agencies against a “public-interest” receivership,” Omokide said.

While Sir Arumemi’s response was still being awaited as of press time, a petition written to EFCC by Femi Falana on his behalf read: “We have the firm instructions of our client to request that you embark on a full investigation of the criminal diversion of the sum N120bn and other financial improprieties arising from fraud, financial mismanagement and misappropriation of funds from the management of Arik Nigeria Limited Assets by the official receiver manager and his cohorts.”

Source: DailyTrust