The ongoing legal battle over the receivership of Arik Air has taken a contentious turn, with critics accusing the Asset Management Corporation of Nigeria (AMCON) of attempting to sway public opinion and exert pressure on the judiciary through aggressive media engagements.
The latest controversy stems from a press conference held by AMCON in Lagos on Friday, a day before the scheduled commencement of trial in Federal Republic of Nigeria vs. Kamilu Alaba Omokide, Ahmed Lawan Kuru, Captain Roy Ilegbodu, Union Bank plc, and Super Bravo Nigeria Limited case marked ID/24942C/24.
The case, which involves allegations of financial misconduct related to Arik Air’s receivership, has been at the centre of a protracted legal dispute.
Critics argue that AMCON’s repeated media interventions — often scheduled just before key court hearings — are designed to manipulate public perception rather than allow judicial due process to unfold.
Ponle Aderounmu, a vocal commentator on the matter, described AMCON’s approach as a “desperate attempt to erode judicial integrity” and an inappropriate use of public relations tactics to influence legal proceedings.
Aderounmu in a release he issued on Saturday said the AMCON’s press confrerence, “underscores a disturbing trend of aggressive public relations posturing rather than adherence to judicial processes.”
According to Aderounmu, “It appears the new norm is for AMCON to call press conferences a day or few days to court adjourned days to overheat the polity and overreach the courts.”
Arik Air, once Nigeria’s largest airline, was placed under AMCON’s receivership in February 2017 over alleged debts exceeding N300 billion.
The takeover was meant to stabilise the airline and ensure continued operations.
However, the receivership has since been marred by legal battles, with Arik’s founder and stakeholders challenging AMCON’s management and the legitimacy of the takeover.
The dispute has escalated over time, with multiple court cases addressing issues of debt recovery, corporate governance, and the broader implications of AMCON’s intervention in Nigeria’s aviation sector.
The upcoming trial is a significant development in this saga, as it involves key figures associated with Arik Air’s receivership and financial transactions linked to its management.
Observers have raised concerns over AMCON’s media strategy, particularly the role of its spokesperson, Jude Nwauzor, who has been accused of making statements that preempt judicial outcomes.
Critics argue that AMCON’s public condemnations of Arik Air’s management—while cases remain active in court—undermine judicial independence and suggest an attempt to pressure judges.
Aderounmu noted, “AMCON’s repeated public attacks on Arik Air and its founder, while cases are actively before courts of competent jurisdiction, including issues of debt recovery and the legitimacy of receivership, reflects a desperate attempt to control the narrative outside legal frameworks.
“Particularly worrying is the role of Jude Nwauzor, AMCON’s spokesperson, whose persistent media pronouncements attempt to pre-empt judicial outcomes, and insisting on public condemnation of alleged debtors and questioning ongoing prosecution, in this instance by the Federal Government (how insolent and desperate can an employee be?) — despite pending cases and existing appeals — AMCON is desperately undermining the very judicial system it claims to respect.
“This approach suggests a corporation unwilling to allow courts to adjudicate impartially, raising critical questions about AMCON’s own internal accountability and conduct.”
Aderounmu questioned, “If AMCON is confident in the legitimacy of its claims, why resort to media theatrics instead of allowing the courts to decide?”
He added, “Its tactics resemble a strategy to intimidate, tarnish reputations, and exert undue influence—behavior unbecoming of a public institution tasked with stabilizing the financial system.”
Moreover, AMCON has been accused of disregarding credible defenses raised by Arik Air, including legal challenges to the receivership and concerns over alleged mismanagement under AMCON’s tenure.
Critics claim that instead of engaging these issues in court, AMCON is more focused on shaping public opinion, a move seen as damaging to investor confidence and the credibility of Nigeria’s financial system.
The controversy raises broader questions about the conduct of government agencies in financial litigation.
As an institution mandated to recover non-performing loans and ensure financial stability, AMCON’s tactics in high-profile cases like Arik Air’s could set a precedent for future interventions.
Legal analysts warn that if AMCON continues to pursue media-driven narratives while legal proceedings are ongoing, it could weaken trust in the judiciary and discourage investors from engaging with Nigeria’s financial sector.
“The judiciary must be allowed to do its work free from external coercion and media trials,” Aderounmu added.
He stressed, “As a government agency, AMCON should be setting an example by respecting court processes instead of substituting them with press conferences and inflammatory rhetoric.”
As the trial proceeds, stakeholders will be closely watching whether the legal process will be allowed to take its course without undue external influence.
The outcome of the case could have lasting ramifications not just for Arik Air but for the broader landscape of corporate governance and judicial independence in Nigeria.
