The Economic and Financial Crimes Commission has detained the Receiver Manager appointed by the Assets Management Corporation of Nigeria for Arik Nigeria Limited, Mr. Kamilu Omokide, over alleged misappropriation and diversion of about N120bn.

Our Sources revealed that the EFCC detained Omokide alongside one Captain Samuel Caulcrick in connection with the alleged illegal sale and tearing down of a $41m CRJ 1000 aircraft, which was operated by Arik Air.

Documents obtained by our correspondent on Friday revealed that the detention of the two top executives was a sequel to a petition written by human rights lawyer, Femi Falana (SAN), who is a solicitor to Arik Nigeria Limited.

The petition detailed how there had been alleged financial fraud and sales of assets worth over N120bn.

The petition listed the details of the alleged diversion of money, sale of assets, and misappropriation of funds.