The Economic and Financial Crimes Commission (EFCC) presented its fourth prosecution witness in the trial of Ahmed Kuru, former Managing Director of the Asset Management Corporation of Nigeria (AMCON), and four co‑defendants.
The witness explained how the ownership of NG Eagle Airlines was structured, alleging that the company received N4.9 billion from Arik Air’s accounts. The transfer is said to have occurred while Arik Air was under receivership, with the funds allegedly used to establish and operate the new airline.
The defendants—Kuru, Roy Ilegbodu (Managing Director of Arik Air), Kamilu Omokide (receiver‑manager of Arik Air), Union Bank Plc, and Super Bravo Limited—were arraigned on 20 January before a Lagos court. They face a six‑count charge that includes conspiracy, theft, and abuse of office. The EFCC alleges that the group collectively defraud Arik Air of N76 billion and $31.5 million.
According to the witness, the scheme involved diverting Arik Air’s financial resources, staff, and operational assets to NG Eagle, effectively siphoning money intended for the ailing carrier. Documentary evidence and exhibits, including bank records and a flash drive containing video footage of allegedly vandalised aircraft, were admitted during the proceedings.
The court has adjourned the case for further hearing, allowing the prosecution to present additional evidence while the defendants maintain their not‑guilty pleas. The trial continues to draw attention to corporate governance issues within Nigeria’s aviation sector and the broader effort to combat financial misconduct.
