EFCC TELLS COURT HOW EX-AMCON BOSS ALLEGEDLY DIVERTED N4.9BN FROM ARIK TO FLOAT NG EAGLE

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By Aishat Momoh. O.

A Special Offences Court sitting in Ikeja, Lagos, on Monday heard how a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, allegedly diverted N4.9 billion from the defunct Arik Air Limited to establish NG Eagle Airlines.

The revelation was made by an Investigative Officer of the Economic and Financial Crimes Commission (EFCC), Bawa Usman Kaltungo, while giving evidence-in-chief before Justice Mojisola Dada. He was led in evidence by the lead prosecution counsel, Dr. Wahab Shittu, SAN.

Kuru is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited on charges bordering on conspiracy and financial misconduct.

According to the EFCC witness, the statement of the former Chief Financial Officer of Arik Air, Mr. Jonathan Sani, revealed how N4.5 billion was allegedly taken from Arik’s funds to finance NG Eagle Airlines, which he said belonged to the defendants.

Kaltungo further alleged that Omokide and Ilegbodu conspired with Kuru to move the N4.9 billion from Arik to establish NG Eagle. He added that beyond the alleged cash diversion, staff of Arik Air were also transferred to NG Eagle.

The witness told the court that NG Eagle was established by Kuru while he was serving as the Managing Director of AMCON, with Omokide as the Receiver Manager. He added that salaries and operational expenses of NG Eagle were allegedly paid by Arik Air Limited.

“The statement of the Chief Financial Officer of Arik Air Limited, Mr. Jonathan Sani, shows how Arik money was used to fund and establish NG Eagle,” Kaltungo said.

During the proceedings, a certified ex-parte order was admitted in evidence and marked as Exhibit P17. Other exhibits tendered and admitted included documents marked as Exhibits P18, P25, P26, P44 and P45. Some of the exhibits, including photographs and a flash drive containing video footage of vandalised aircraft, were also played in open court.

Meanwhile, counsel to the second and third defendants applied for the temporary release of their clients’ international passports to enable them renew the documents and attend to medical needs.

Justice Mojisola Dada granted the application and ordered that the passports be returned to the court registry on or before January 2, 2026.

The trial was adjourned to earlier scheduled dates, and to January 2 and 3, 2026, for continuation of hearing.