EFCC WITNESS ALLEGES THREE ARIK AIR AIRCRAFT WERE STRIPPED OF PARTS DURING KURU’S TENURE AT AMCON
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By Aishat Momoh. O.
An Investigative Officer of the Economic and Financial Crimes Commission (EFCC), Bawa Usman Kaltungo, on Friday told the Special Offences Court sitting in Ikeja, Lagos, that three aircraft belonging to Arik Air Nigeria Limited were stripped of avionics and vital components while the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, was in office.
Kaltungo made the allegation while being led in evidence by lead prosecution counsel, Dr. Wahab Shittu (SAN), in the ongoing trial of Kuru and four other co-defendants over alleged N71.76 billion and $31.5 million fraud.
Kuru is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited on a six-count charge bordering on conspiracy, stealing, and abuse of office before Justice Mojisola Dada.
The EFCC investigator told the court that his team spent one week in Lagos during investigations, during which they inspected three aircraft parked at the Arik Air hangar, only to discover that critical components and spare parts had been removed.
Kaltungo further testified that Union Bank did not directly provide any loan facility to Arik Air but instead served as a local guarantor for foreign credit facilities secured from HSBC and other international lenders, which the airline serviced until June 2010.
He disclosed that a letter recovered during investigations showed that negotiations regarding the loan took place in London between AMCON and Union Bank without Arik Air’s involvement.
The investigator also alleged that the transfer of three Arik aircraft to Super Bravo Limited, and subsequently to NG Eagle a company allegedly linked to Kuru was carried out without any deed of transfer or approval from the Nigerian Civil Aviation Authority (NCAA).
“No evidence was found of any payment for the acquisition of the three aircraft,” Kaltungo told the court. “NG Eagle later sold parts of Arik assets for N140 million, with no record that the proceeds were applied towards any loan repayment.”
He also stated that no effort was made to recover $950,000 paid to Olympus in Greece for an aircraft lease that was never delivered.
Several documents tendered by the prosecution were admitted as exhibits.
Count one alleges that Union Bank Nigeria Plc, in 2011, made false statements to AMCON regarding Arik Air’s performing loans, resulting in the transfer of “a bogus figure” of ₦71 billion to AMCON.
Count two accuses Kuru, Omokide (as Receiver Manager of Arik Air), and Ilegbodu (CEO of Arik Air in receivership) of fraudulently converting ₦4.9 billion belonging to Arik Air for the benefit of NG Eagle Limited in 2022.
The trial continues.
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