EFCC witness: How ex AMCON boss used Arik funds for Umza insurance
An Ikeja Special Offences Court has heard fresh details of how former Asset Management Corporation of Nigeria managing director Ahmed Lawan Kuru allegedly diverted funds belonging to Arik Air while serving as the airline’s receiver manager. Testifying for the Economic and Financial Crimes Commission, Assistant Director Bawal Usman Kaltungo said investigators discovered that Arik Air’s money was used to pay insurance liabilities for Umza Aviation Services Limited, also known as Umza Airline. He told Justice Mojisola Dada that Umza later began repaying the funds, but the repayment was not completed by the time the probe was conducted. Kuru is standing trial alongside another receiver manager of Arik Air, Kamilu Alaba Omokide, the airline’s managing director Captain Roy Ilegbodu, Union Bank Plc and Super Bravo Limited over alleged fraud involving 76 billion naira and 31.5 million dollars. The defendants face charges […]
