By SAM POPOOLA, Lagos
The Lagos State High Court (Special Offences) sitting in Ikeja has admitted documents showing that the establishment of NG Eagle airline was approved by the board of the Asset Management Corporation of Nigeria (AMCON), as the trial of its former Managing Director, Ahmed Kuru, and four others continued.
The documents were tendered during the cross-examination of the Economic and Financial Crimes Commission's (EFCC) fourth prosecution witness, Bawa Usman Kaltungo, by Olasupo Shasore, SAN, counsel to Kuru, the second defendant.
The proceedings, which marked the third day of the trial within one week, also featured questions about the indebtedness of Arik Air Limited, the airline's intervention by AMCON, and allegations that Kuru transferred N4.9 billion towards the establishment of NG Eagle.
The trial is before Justice Mojisola Dada.
During cross-examination, Shasore asked the witness whether he had questioned or obtained relevant information from Sir Johnson Arumemi-Ikhide, the chairman and promoter of Arik Air, during the EFCC investigation.
Kaltungo responded that he had discretion over the persons invited and interrogated in the course of his investigation.
The defence counsel subsequently asked whether the witness was aware that Arumemi-Ikhide had engaged with AMCON management and the airline's receiver-manager over the company's indebtedness.
Shasore also drew the witness's attention to a letter dated January 25, 2016, written by Arumemi-Ikhide to AMCON's managing director and titled, “Proposal for Resolution of Arik Air Limited's Facilities Acquired by AMCON.”
In response, Kaltungo was quoted as saying: “If Sir Johnson Arumemi-Ikhide said he had taken a loan, that is their business.”
N4.9bn NG Eagle Claim Challenged
The cross-examination took another turn when Shasore questioned the witness over his allegation that Kuru transferred N4.9 billion towards the establishment of NG Eagle.
Asked whether he had documentary evidence to support the claim, Kaltungo said the chief financial officer of Arik Air, Jonathan Sani, had provided the information and a breakdown of the alleged expenditure.
However, when Shasore asked him to identify the relevant evidence in Exhibit P23, which contained documents submitted by the prosecution, the witness reportedly searched through the materials without locating the document.
The defence counsel then confronted Kaltungo with a certified true copy of the extract of AMCON's 78th board meeting, which contained approval for the establishment of NG Eagle and the budgeted expenditure for the project.
The document, according to the defence, showed that the decision to establish the airline was a board-approved initiative rather than the unilateral decision of Kuru.
Kaltungo, however, urged the court to disregard the document as proof of the defence's position.
EFCC Witness Questions AMCON's Intervention
During further questioning, Kaltungo maintained that Union Bank had misled AMCON into acquiring Arik Air's loan facilities, insisting that his investigation had not established that the airline was indebted to the bank.
He also claimed that the loan was performing and argued that AMCON lacked the authority to take over the debt.
The witness consequently described AMCON's intervention in Arik Air as “illegal and fraudulent,” expressing his personal position on the circumstances surrounding the acquisition of the airline's loan facilities.
His assertions formed part of the disputed issues explored during the defence's cross-examination.
Throughout the proceedings, Shasore continued to challenge the witness's claims and demanded documentary support for the allegations against his client.
The court subsequently adjourned the case until December 3 and 10, 2026, for the continuation of the trial.
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