Special Offences Court, sitting in Ikeja, Lagos, has been told how the former Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, allegedly diverted N4.9 billion from the defunct Arik Airline Limited to establish NG Eagle Airlines.

An investigative officer of the Economic and Financial Crimes Commission (EFCC), Bawa Usman Kaltungo, told Justice Mojisola Dada that the commission’s findings were that there was no record of the account.

Kaltungo was led in evidence by the lead prosecution counsel, Dr Wahab Shittu (SAN), on the additional proof of evidence filed and served on the defendant’s counsel yesterday. The witness spoke on the document titled ‘the crew agreement’, saying the payment was made by Ibom Air and there was no record.

He said when the team asked the receiver manager in respect of the spare part on loan,” they (the defendants) could not provide us record of that money.”

Recall that Kuru is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited over allegations of fraud.

Kaltungo said the statement of the former Chief Financial Officer of Arik, Mr Jonathan Sani, exposed how the defendants took the sum of N4.5 billion from Arik airline to fund NG Eagle, which belongs to the defendants, alleging that Omokide and Ilegbodu conspired with Kuru to move N4.9 billion from Arik to establish their own airline named NG Eagle.

The witness said that aside from taking cash from the Arik airline assets, the defendants transferred staffers of Arik to NG Eagle.

He told the court that NG Eagle was established by Mr Kuru when he was serving as the MD of AMCON and Mr Omokide was the Receiver Manager of AMCON.

He further said payment of workers’ salaries and other expenses of the newly formed NG. Eagle was the responsibility of Arik Air Limited, stressing: “The statement of the Chief Financial Officer of Arik Air Limited, Mr Jonathan Sani, shows how Arik money was used to fund and establish NG Eagle.”

The court therefore admitted a certified ex parte order marked as P17 tendered by the prosecution.

Other exhibits tendered and admitted as exhibits and were marked P18, P25, P26, P44 and P45; one of which included photographs and a flash drive containing video of vandalised aircraft were played in court.

“The video evidence was played in the open court, wherein they show the rotten part of the aircraft.’

Meanwhile, the second defendant’s counsel applied for relief for the second and third defendants to have their passports released to them for renewal and for medical purposes.

The judge granted the release and ordered that their passports be returned to the court’s registry latest on January 2, 2026.

Justice Dada subsequently adjourned the trial to January 2 and 3, 2026, for continuation of the trial.