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By Lukman Olabiyi
The prosecution witness, Bawal Usman Kaltungo, in the ongoing trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Lawan Kuru and four others has revealed what led to intervention of the corporation in Arik Airline.
The Economic and Financial Crime Commission (EFCC) had arraigned Kuru who is also a former Receiver Manager of Arik Airline Ltd., Kamilu Omokide, the airline’s Chief Executive Officer, Captain Roy Ilegbodu, Union Bank Limited, and Super Bravo Ltd before the
Lagos State Special Offences Court, Ikeja, on a six-count charge of conspiracy, stealing, and abuse of office.
Testifying before court yesterday, Kaltungo, who was led in Evidence in Chief by the prosecutor, Wahab Shittu (SAN), informing the court that it was the Board of the Central Bank of Nigeria (CBN), the Ministries of Finance, Aviation, and the then Acting President of the Federal Republic of Nigeria Prof. Yemi Osibanjo SAN, that directed AMCON’s intervention in Arik Airline.
Kaltungo told Justice Mojisola Dada, that the AMCON’s intervention was contained in the minute of the meeting regarding to that effect.
The witness also read to the open court part of the minutes that relate to AMCON’s Arik Airline intervention.
He further stated that Kuru discussed with three major commercial banks that were creditors to the airline and that the consensus was that the Central Bank of Nigeria (CBN) should intervene.
However, the witness in his testimony also alleged that kuru diverted funds belonging to Arik Air to offset insurance liabilities owed by Umza Airline while serving as Receiver Manager of Arik Air.
According to the witness, Kuru alongside Kamilu Alaba Omokide had interest in the ownership and running of Umza Airlines.
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“In the course of investigation, we discovered that Arik Air’s money was used to pay the insurance with NEM Insurance of Umza Airline. We invited Umza Airline, which confirmed the development. We also found that Umza Aviation Services had commenced repayment, but had not concluded it as at the time of investigation,” he said.
Kaltungo who is an Assistant Director with EFCC
further told the court that investigators discovered that AMCON opened several accounts for Arik Air and assigned an account officer to manage the airline’s loan.
“We invited the account officer, who provided the statement of the loan account signed by him and one Justin Akune. The statement was submitted to the Commission with a covering letter. The aim was to determine whether the Receiver Manager was performing the role for which he was appointed, but we discovered he was not,” the witness stated.
He also informed the court that during the investigation, the first defendant, Omokide, petitioned the Attorney-General, alleging harassment and seeking a halt to the probe.
According to him, the petition, which contained 39 attachments, was accompanied by a legal opinion written by the Attorney-General and signed by the Solicitor-General.
“My head of the investigative team received copies of the petition. It was essentially requesting that the investigation be stopped,” he added.
Counsel to the defence indicated that they would reserve their objections until the address stage.
Justice Dada subsequently adjourned further hearing in the matter until February 26, 2026
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