By Wellington Jopelo
Fresh twists emerged in the ongoing Arik Air-related criminal trial at the Special Offences Court in Ikeja, Lagos, after an Economic and Financial Crimes Commission (EFCC) witness admitted under cross-examination that investigators did not trace any money to former AMCON Managing Director, Ahmed Kuru, or the other defendants standing trial in the case.
The revelation came during proceedings before Justice Mojisola Dada on May 19, 2026, as the fourth prosecution witness, Mr Bawa Usman Kaltungo, continued his testimony in the high-profile case involving Kuru, former Arik Air Receiver-Manager Kamilu Omokide, Arik Air Managing Director Capt. Roy Ilegbodu, Union Bank Plc and Super Bravo Limited.
The defendants are being prosecuted following a petition reportedly filed by senior lawyer Femi Falana (SAN) on behalf of Arik Air founder, Sir Johnson Arumemi-Ikide, over the management and financial dealings surrounding the airline and the creation of NG Eagle.
During cross-examination led by defence counsel, Prof. Taiwo Osipitan (SAN), the EFCC witness acknowledged that no financial benefit was traced to any of the accused persons throughout the investigation, despite the criminal allegations before the court.
Kaltungo also admitted that several actions taken by Omokide and Ilegbodu in the management of Arik Air were carried out with the approval of the board of the Asset Management Corporation of Nigeria (AMCON), contradicting aspects of his earlier testimony before the court.
The courtroom atmosphere reportedly shifted when defence counsel presented a letter from AMCON addressed to the EFCC chairman, which allegedly showed that key decisions made by the defendants regarding Arik Air had official backing from the corporation.
Although Kaltungo claimed he was unaware of the letter because it was addressed directly to the EFCC chairman, he admitted that the defendants acted as agents or representatives of AMCON in handling the affairs of the airline during the receivership period.
The witness further told the court that Omokide, who held a single share in NG Eagle as a nominee, did not personally profit from the airline’s sale process. According to him, proceeds from the NG Eagle transaction were paid directly to AMCON and not to any of the defendants named in the suit.
Prof. Osipitan questioned why AMCON itself was not charged in the matter if the decisions under scrutiny were officially approved by the corporation, arguing that the accused persons merely acted on behalf of the Federal Government agency.
The defence also challenged the basis of the criminal charges, stressing that the EFCC’s own investigation failed to establish personal financial gain by the defendants, a point repeatedly acknowledged by the witness during proceedings.
The court also revisited the circumstances surrounding AMCON’s intervention in Arik Air years earlier, with references made to the Federal Government’s decision to prevent the collapse of what was then Nigeria’s largest domestic airline operator.
At the time of the intervention, Arik Air was reportedly battling severe financial difficulties, including debts exceeding ₦300 billion, frequent flight cancellations, poor operational performance, unpaid salaries, insurance obligations and threats from service providers.
Justice Dada subsequently adjourned the matter to June 25 and July 7, 2026, for continuation of the witness’