A fourth prosecution witness with the Economic and Financial Crimes Commission, EFCC, Bawa Usman Kaltungo, on Monday told Justice Mojisola Dada of the Special Offences Court, Ikeja that the former Managing Director and Chief Executive Officer, Asset Management Corporation of Nigeria, AMCON, Ahmed Kuru, allegedly diverted N4.9billion from the defunct Arik Air Limited to establish NG Eagle Airline.
The defendant alongside Mr. Kamilu Omokide, a former receiver manager of Arik Air Limited; Captain Roy Ilegbodu, Arik Air Chief Executive Officer; Union Bank Limited; and Super Bravo Limited are being prosecuted by EFCC on six count charge bordering on conspiracy, stealing and abuse of office.
Count one of the charge reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71, 000,000,000.00 (Seventy-One Billion Naira) to AMCON.”
Count two reads: “That you, Ahmed Lawal, Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4,900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited.“
The testimony is in continuation of trial of Kuru, alongside Mr. Kamilu Omokide, a former receiver manager of Arik Air Limited; Captain Roy Ilegbodu, Arik Air Chief Executive Officer; Union Bank Limited; and Super Bravo Limited being prosecuted by EFCC.
Arik Air Limited aircrafts vandalised – Witness
Led in evidence by EFCC Prosecution Counsel Dr. Wahab Shittu, the witness who had earlier stated that three aircrafts belonging to the Arik Air Nigeria Limited were robbed under the stewardship of the former AMCON MD, continued his testimony.
According to Kaltungo, the statement of former Chief Financial Officer of Arik, Mr. Jonathan Sani exposed how the defendants taken the sum of N4.5billion from Arik Airline to fund NG Eagle which belong to the defendants.
He alleged that other defendants; Omokide and Ilegbodu conspired with Kuru to moved N4.9billion from Arik to establish their own airline named NG Eagle.
Kaltungo also spoke on how the defendants transferred staff of the Arik to NG Eagle while speaking to investigation reports by his team.
He told the court that NG Eagle was established by Mr. Kuru when he was serving as the MD AMCON and Mr. Omokide was the Receiver Manager of AMCON.
He further said payment of workers salary and other expenses of the newly formed NG Eagle was the responsibility of the Arik Air Limited.
“The statement of the Chief Financial Officer of the Arik Air Limited Mr. Jonathan Sani shows how Arik money was used to fund and established NG. Eagle.
The court during the proceedings admitted a certified ex-parte order marked as exhibit P17.
According to him “It is the investigation report my lord, our findings was based on documentary evidence recovered during investigation.”
Other exhibits tendered and admitted as exhibits were marked P18, P25, P26, P44 and P45; one of which included photographs and flash drive containing video of vandalised aircraft which was played in court.
Meanwhile, the second and third defendants applied for reliefs through their Counsel, Prof. Taiwo Osipitan, SAN and Ms. Oyinkansola Badejo, SAN, so as to have their passports released to them for renewal and medical purposes respectively.
The judge granted their applications and ordered that their passports should be returned to the court’s registry latest on January 2nd, 2026.
Justice Dada thereafter adjourned the trial to earlier scheduled date, February 25, 26, March 2 and 3, 2026 for continuation of trial.
