By Henry Ojelu

LAGOS — The Economic and Financial Crimes Commission, EFCC, on Thursday admitted before a Lagos Special Offences Court that its investigation into the alleged unlawful teardown of an Arik Air aircraft did not uncover any evidence that former Managing Director of the Asset Management Corporation of Nigeria, AMCON, Ahmed Kuru, and former Arik Air Chief Executive Officer, Capt. Roy Ilegbodu, personally benefited from the transaction.

The disclosure came during the continuation of the trial of Kuru, former Arik Air Receiver-Manager Kamilu Omokhide, Ilegbodu, Union Bank Plc and Super Bravo Limited before Justice Mojisola Dada in Ikeja.

The defendants are facing a six-count charge bordering on alleged conspiracy, stealing, abuse of office and fraudulent handling of Arik Air assets.

Under cross-examination by Prof. Taiwo Osipitan, SAN, counsel to Kuru and Ilegbodu, EFCC’s fourth prosecution witness, Mr. Bawa Usman Kaltungo, Director of the Commission’s Lagos Zonal Directorate 2, acknowledged that no proceeds from the teardown of aircraft 5N-JEA, valued at about $31.5 million, were traced to the personal accounts of either Kuru or Ilegbodu.

“I have said it before that no money was traced to their personal accounts,” the witness told the court.

The aircraft teardown forms a major crux of the prosecution’s case, with the EFCC alleging that the exercise was carried out unlawfully and was detrimental to the interests of Arik Air.

However, during proceedings, the defence tendered documents it said showed that the owner of the aircraft had authorised the teardown.

Kaltungo disputed the documents, arguing that the purported authorisation letter was not written on the company’s official letterhead.

The defence also tendered a Certified True Copy of a Court of Appeal judgment that reaffirmed the legality of AMCON’s appointment of a Receiver-Manager for Arik Air.

The appellate court judgment set aside an earlier decision that had been relied upon by Arik Air founder, Sir Johnson Arumemi-Ikhide, to challenge the receivership arrangement.

According to the defence, the judgment validated both the appointment of the Receiver-Manager and the powers exercised in that capacity.

Further documents admitted in evidence included a Federal High Court judgment involving Captain Samuel Caulcrick and Cargo Airlines Limited, who were reportedly engaged by the owners of the aircraft to carry out the teardown.

The defence argued that the judgment undermined the prosecution’s contention that the dismantling of the aircraft was unlawful.

Proceedings also touched on allegations surrounding the establishment of NG Eagle.

The court admitted documents relating to AMCON Board resolutions authorising and ratifying the establishment, transfer and allotment of shares in the airline.

Under cross-examination, Kaltungo also admitted that the first and third defendants did not derive any pecuniary benefit from transactions connected to NG Eagle.

Justice Dada subsequently adjourned the matter till July 7, 2026, for hearing of an interlocutory application filed by the second defendant and fixed October 26, 27, 28 and 29, 2026, for continuation of trial.

Source: Vanguard News