By Wellington Jopelo
Fresh developments emerged in the ongoing criminal case involving the Economic and Financial Crimes Commission (EFCC) and former officials connected to Arik Air, after the Court of Appeal affirmed that the decision by Asset Management Corporation of Nigeria (AMCON) to place the airline under receivership was lawful and properly executed.
The case resumed at the Special Offences Court sitting in Ikeja, Lagos, before Justice Mojisola Dada, where the fourth prosecution witness, Bawa Usman Kaltungo, continued his cross-examination by defence counsel representing the first and third defendants.
During proceedings, the defence tendered a Certified True Copy of a Court of Appeal judgment which overturned an earlier ruling previously relied upon by Arik Air founder Johnson Arumemi-Ikhide to argue that AMCON acted prematurely and unlawfully when it took over the airline.
The appellate court judgment, which was admitted as evidence, reaffirmed that AMCON had the legal authority to appoint a Receiver-Manager over Arik Air and also confirmed the legitimacy of actions carried out under that appointment.
The EFCC had earlier filed charges against former AMCON Managing Director Ahmed Kuru, alongside former Arik Air Receiver-Manager Kamilu Omokhide, airline chief executive Captain Roy Ilegbodu, Union Bank of Nigeria, and Super Bravo Limited, following a petition submitted by senior lawyer Femi Falana on behalf of Arumemi-Ikhide.
As the hearing progressed, another major development surfaced when court documents showed that a separate Federal High Court had previously ruled that the dismantling of one of Arik Air’s disputed aircraft by AMCON and its Receiver-Manager was lawful.
This directly challenged part of the EFCC’s allegations, as prosecutors had argued that the aircraft teardown was illegal because AMCON and its appointed management lacked the legal powers to authorize such action.
The issue had earlier led to the arrest of Captain Samuel Caulcrick and other officials connected to Cargo Airlines Limited, who were contracted by the aircraft owners to carry out the dismantling exercise.
However, a judgment delivered by Justice Owoeye of the Federal High Court later ruled that the EFCC acted wrongly in arresting and detaining Captain Caulcrick, ordering the anti-graft agency to pay ₦5 million damages over the unlawful detention.
The court also admitted AMCON board resolutions showing that the corporation officially approved the creation, transfer and allotment of shares linked to NG Eagle, including shares assigned to the third defendant in the case.
During cross-examination, prosecution witness Kaltungo further admitted before the court that both the first and third defendants did not personally receive any financial gain from the transactions currently being challenged in the trial.
Following the day’s proceedings, Justice Dada adjourned the matter until July 7, 2026 for hearing on an interlocutory application filed by the second defendant, while fixing October 26, 27, 28 and 29 for continuation of the main trial.