The Economic and Financial Crimes Commission has detained the Receiver Manager appointed by the Assets Management Corporation of Nigeria
The petition, addressed to the EFCC Chairman, and dated April 27, read, “We are solicitors to Arik Nigeria Limited , on whose behalf and specific instructions we write you. Our client operates an airline in the aviation industry by offering air transportation services for passengers and cargo in Nigeria and has been in business since 2006.
“In compliance with an ex parte order of the Federal High Court, Lagos Judicial Division the Asset Management Corporation of Nigeria appointed a receiver manager to manage our client’s assets due to its financial obligation to some banks. “Pursuant to the said ex parte order, the said receiver manager has been overseeing the affairs of our client’s assets pursuant from 2017 to date. In the course of running the airline business the receiver has engaged in financial mismanagement, diversion of monies, sales of assets and misappropriation of funds belonging to Arik Airline.
The petition listed the details of the alleged diversion of money, sale of assets and misappropriation of funds.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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