EFCC Witness Claims N4.9bn from Arik Air Diverted

During a trial at the Special Offences Court in Ikeja, Lagos, Bawa Usman Kaltungo, an EFCC witness, asserted that approximately N4.9 billion from the sale of Arik Air's assets was diverted to establish NG Eagle instead of settling the airline's outstanding debts. Kaltungo, who is testifying against former AMCON Managing Director Ahm Kuru and others, stated that financial records indicated the funds were not utilized to address Arik Air's liabilities.

He confirmed that the EFCC's investigation did not trace any money from the dismantling of aircraft to Kuru or Capt. Roi Ilegbodu, the former CEO of Arik Air.

The trial involves allegations of conspiracy, fraud, and abuse of office against Kuru, Omokid, and Ilegbodu, with claims that they misrepresented Arik Air's loan obligations to Union Bank, resulting in fictitious debt figures. The court proceedings continue as the defense challenges the authenticity of documents presented.