Nigeria’s Economic and Financial Crimes Commission (EFCC) has accused former Asset Management Corporation of Nigeria (AMCON) managing director Ahmed Kuru and associates of diverting NGN4.9 billion (USD3.4 million) from Arik Air to fund the start-up of NG Eagle, a Lagos-based airline. The EFCC alleges that Arik Air's funds and resources were used to establish NG Eagle while Kuru managed AMCON, with documentary evidence suggesting that substantial funds were withdrawn from Arik Air’s accounts.
Charges have been brought against Kuru, Omokide, Arik Air, and other entities, including allegations of conspiracy, theft, and abuse of office related to fraud involving NGN76 billion (USD52 million). The court has also granted temporary travel document releases for some defendants to facilitate medical care abroad, with a scheduled return by January 2, 2026. The trial continues amid these legal developments.
This case underscores ongoing financial investigations into Arik Air and its associated entities, highlighting issues of financial misappropriation and regulatory oversight within Nigeria’s civil aviation sector.
