A prosecution witness on Monday told the Special Offences Court in Ikeja, Lagos, how former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and others allegedly diverted N4.9 billion belonging to the defunct Arik Air Limited to establish a new carrier, NG Eagle Airlines.
Testifying before Justice Mojisola Dada, EFCC Investigative Officer Bawa Usman Kaltungo said the defendants channelled billions of naira from Arik Air—then under AMCON receivership—into the operations of NG Eagle while using Arik’s staff and resources to run the airline.
Kaltungo, led in evidence by prosecuting counsel Dr. Wahab Shittu (SAN), said Arik’s former Chief Financial Officer, Jonathan Sani, revealed during investigation that N4.5 billion was withdrawn from Arik’s account and used to fund NG Eagle, allegedly set up by the defendants while Kuru was still AMCON MD and Kamilu Alaba Omokide served as Receiver Manager.
Kuru is standing trial alongside Omokide, Captain Roy Ilegbodu, Union Bank Plc and Super Bravo Limited on a six-count charge bordering on conspiracy, stealing and abuse of office.
One of the counts alleges that Union Bank provided false information to AMCON in 2011 regarding Arik’s performing loans, leading to the transfer of N71 billion to AMCON. Another count accuses Kuru, Omokide and Ilegbodu of fraudulently converting N4.9 billion belonging to Arik Air to the use of NG Eagle Limited in 2022.
The prosecution tendered several documents admitted as exhibits, including a certified ex parte order (marked P17) and documents labeled P18, P25, P26, P44 and P45. A flash drive showing video footage of vandalised aircraft was also played in court.
Defendants Granted Temporary Release of Passports
During proceedings, counsel to the second defence team sought temporary release of the international passports of the second and third defendants to enable them renew their travel documents and seek medical treatment abroad.
Justice Dada approved the request, directing that the passports be returned to the court no later than January 2, 2026.
The case was adjourned to January 2 and 3, 2026 for continuation of trial.
