Arik Air had non-performing loan before my exit – AMCON ex-director
A prosecution witness and former Executive Director of Credits at the Asset Management Corporation of Nigeria, Muhammed Jega, on Wednesday told the Lagos State Special Offences Court, Ikeja, that the facility granted to Arik Air by Union Bank Plc for aircraft purchase had become non-performing before he left AMCON in 2015.
The Economic and Financial Crimes Commission is prosecuting former AMCON Managing Director, Ahmed Kuru; former Receiver Manager of Arik Air, Kamilu Omokide; Arik Air Chief Executive Officer, Roy Ilegbodu; Union Bank Plc; and Super Bravo Limited over alleged N76bn and $31.5m fraud.
They are facing five counts bordering on theft, abuse of office, and dishonest acquisition of property.
Union Bank is also facing an additional count for allegedly making false statements to a public officer.
While being cross-examined by defence counsel, Olalekan Ojo (SAN), Jega said AMCON did not file a formal petition to security agencies over alleged misrepresentation by Union Bank in the sale of Arik’s loan but sent a letter to the EFCC instead.
“Up to the time I left AMCON, the loans taken by Arik Air were still unpaid,” Jega said.
He told the court that he was unaware of any directive from the Central Bank of Nigeria concerning Union Bank’s loan to Arik before his departure from AMCON
