A prosecution witness on Tuesday told a Special Offences Court sitting in Ikeja, Lagos, how the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, and others allegedly diverted N4.9 billion belonging to the defunct Arik Air Limited to establish NG Eagle Airlines.
The witness, Bawa Usman Kaltungo, an investigative officer with the Economic and Financial Crimes Commission (EFCC), gave the evidence while being led in examination-in-chief by lead prosecution counsel, Dr. Wahab Shittu, SAN.
Kuru is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank Plc, and Super Bravo Limited before Justice Mojisola Dada.
According to Kaltungo, the EFCC investigation was aided by the statement of Arik Air’s former Chief Financial Officer, Mr. Jonathan Sani, who allegedly disclosed that about N4.5 billion was moved from Arik Air’s accounts to fund the newly formed NG Eagle Airlines, which the witness said belonged to the defendants.
He further alleged that Kuru, in collaboration with Omokide and Ilegbodu, “conspired to take N4.9 billion from Arik to establish their own airline, NG Eagle,” while still serving in official capacities relating to Arik’s receivership.
Kaltungo also told the court that staff of Arik Air were transferred to NG Eagle, and that salaries and operational expenses of the new airline were allegedly paid from Arik Air’s resources.
“NG Eagle was established by Mr. Kuru while he was the MD of AMCON, and Mr. Omokide acted as Receiver Manager. The statement of Arik’s CFO shows how Arik’s funds were used to establish NG Eagle,” the witness said.
During the proceedings, the court admitted several documents, including a certified ex parte order marked Exhibit P17.
Other documents and digital materials tendered by the prosecution—including photographs and a flash drive containing videos of vandalised aircraft—were also admitted and marked Exhibits P18, P25, P26, P44 and P45.
Kaltungo said the investigation was based on “documentary evidence recovered during investigation.”
Meanwhile, counsel to the second and third defendants applied for the release of their clients’ passports to enable them renew the documents and attend to medical needs.
Justice Dada granted their applications and ordered that the passports be returned to the court’s registry on or before January 2, 2026.
The court adjourned the matter to the earlier scheduled dates, including January 2 and 3, 2026, for continuation of trial.
