Alleged N76bn, $31.5m Fraud: Former AMCON MD Ahmed Kuru Diverted N4.9bn from Defunct Arik Air - Witness

A prosecution witness on Monday, December 8, 2025, told Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, how former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and others allegedly diverted N4.9 billion belonging to the now-defunct Arik Air Limited to establish a new airline, NG Eagle Airlines. The testimony was given by Bawa Usman Kaltungo, an Investigative Officer with the Economic and Financial Crimes Commission (EFCC), while being led in evidence by the prosecution counsel, Dr. Wahab Shittu, SAN. Kuru is standing trial a…

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Source	EFCC
Collection	Anti-corruption and elections
Kind	Document
Publisher	Economic and Financial Crimes Commission (EFCC)
Date	2025-12-09
Type	press-release
Found at	https://www.efcc.gov.ng/news/alleged-n76bn-315m-fraud-former-amcon-md-ahmed-kuru-diverted-n49bn-from-defunct-arik-air-witness
Archived copy	Look it up in the Wayback Machine
Record ID	`efcc:news:13726`

Cite this record

Alleged N76bn, $31.5m Fraud: Former AMCON MD Ahmed Kuru Diverted N4.9bn from Defunct Arik Air - Witness. EFCC, 2025. Vero Archive, record efcc:news:13726.