By AGATHA N Uju, Correspondent, Abuja
More evidence seeking to unravel the involvement of a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and others. in the alleged N76bn, $31.5m fraud trial has been admitted by Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday.
Documents containing the evidence were tendered by the Economic and Financial Crime Commission (EFCC).
At the resumed sitting on Wednesday, the fourth prosecution witness, PW4, Usman Bawa Kaltungo, continued his examination-in-chief led by Wahab Shittu, SAN.
He had earlier begun his testimony on Friday, November 28, 2025, where he detailed the Commission’s findings from its investigation into the transactions involving Arik Air, Union Bank, AMCON, and several foreign lenders.
Others allegedly involved in the fraud alongside Kuru are Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc and Super Bravo Limited.
They are being prosecuted on a six-count charge bordering on conspiracy, stealing, and abuse of office.
According to the EFCC in a statement issued yesterday by its spokesman, Dele Oyewale, One of the counts reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71, 000,000,000.00 (Seventy-One Billion Naira) to AMCON.”
Another count reads: “That you, Ahmed Lawal, Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4, 900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited.”
In his further testimony, the witness stated that the EFCC’s lawyer obtained the Certified True Copy, CTC, of the petition and the legal opinion.
Kaltungo added that he received the petition in his capacity as the Head of the investigating team.
At this point, he identified the documents, the petition and the legal opinion signed on behalf of the AGF and Minister of Justice.
The witness also told the court that the legal opinion and petition were both certified and that the proper fees were paid.
The prosecution counsel, thereafter, sought to tender in evidence the petition, legal opinion as well as the attachments.
Justice Dada marked and admitted them as exhibits P46.
Justice Dada adjourned the case till February 26, 2026.
