Proceedings in the alleged Arik Air intervention case continued at the Special Offences Court in Ikeja, where the EFCC presented documentary evidence linking the Federal Government to AMCON’s takeover of the airline.
An EFCC investigator, Bawa Usman Kaltungo, testified before Justice Mojisola Dada that the decision for AMCON to step into Arik Air’s affairs followed directives from top government authorities.
Under examination by prosecution counsel, Dr. Wahab Shittu (SAN), the witness read portions of the Minutes and Board Extract of the Central Bank of Nigeria’s Committee of Governors.
The documents, tendered in court, indicated that the Board resolved that the CBN should execute the Federal Government’s directive to intervene in Arik Air.
The Minutes further showed that N1.5 billion was approved as working capital for the airline, with AMCON required to render periodic financial updates to the Committee of Governors.
Kaltungo told the court that the then Managing Director of AMCON, Ahmed Lawan Kuru, informed the Board that Arik Air controlled a significant share of Nigeria’s domestic passenger traffic and faced imminent collapse without urgent intervention.
According to the witness, Kuru explained that the airline had disbursed substantial funds to its technical partner, Messrs Lufthansa, which later withdrew operations from Nigeria.
He said the Board was also told that discussions were held with three major commercial banks that were creditors to the airline, and there was agreement that regulatory intervention was necessary.
The witness read that concerns were raised by the Federal Ministry of Finance over threats by Standard Chartered Bank to repossess two aircraft due to outstanding lease payments.
He added that the airline’s insurance cover was nearing expiration, a development that could have grounded its operations if not promptly renewed.
The Minutes, as read in court, showed that the Ministers of Finance and Aviation considered the airline strategically important and agreed it should not be allowed to fail.
Kaltungo further stated that the issue was later discussed at the Presidency, where immediate government action to stabilise the airline was endorsed.
According to him, the then Acting President, Prof. Yemi Osinbajo (SAN), was briefed and directed that necessary steps be taken without delay.
The EFCC brought the charges against Kuru and other defendants following a petition filed by Femi Falana on behalf of the airline’s promoter.
The court also heard that one of the co-defendants, Kamilu Alaba Omokide, petitioned the Attorney-General during the investigation.
According to the witness, the petition alleged harassment and sought to stop the probe. It reportedly included 39 attachments and was accompanied by a legal opinion signed by the Solicitor-General.
He told the court that copies of the petition were received by the head of the investigative team.
Other defendants in the case include Captain Roy Ilegbodu, Union Bank Plc and Super Bravo Limited.
Defence counsel said they would address their objections during the final address stage of the trial.
Justice Dada adjourned the matter until February 26, 2026, for further proceedings.