A prosecution witness, Bawa Kaltungo, on Tuesday told an Ikeja Special Offences Court that investigations did not trace any direct financial benefit to Ahmed Kuru, a former managing director of the Asset Management Corporation of Nigeria (AMCON).
Mr Kaltungo, an assistant director with the Economic and Financial Crimes Commission (EFCC), said this while being cross-examined by the first defence counsel, Prof. Taiwo Osipitan.
Mr Kuru and four others are standing trial over alleged conspiracy, theft, abuse of office, and making false statements involving Arik Air assets valued at N76 billion and $ 31.5 million.
Others standing trial are the airline’s receiver-manager, Kamilu Omokide; Arik Air Chief Executive Officer, Roy Ilegbodu; Super Bravo Ltd; and Mohammed Jega.
During proceedings, Mr Kaltungo initially stated that Mr Kuru benefited through shares allegedly linked to transactions under investigation.
However, when asked whether he personally traced financial proceeds or direct benefit to Kuru, the witness replied: “I did not trace it.”
Asked whether he had evidence showing Kuru personally received money from the transactions, Kaltungo said: “What I know is that he benefited through shares.”
When pressed to identify the specific benefit traced to Mr Kuru, the witness admitted he had no direct evidence linking the defendant to personal financial gain.
The defence also challenged the credibility of the EFCC investigation and evidence relating to the alleged fraud involving Arik Air’s receivership.
Under cross-examination, Mr Kaltungo admitted that investigators did not have direct authority to seize or ground certain aircraft linked to Arik Air.
He also conceded that some documents relied upon by the EFCC were supplied by third parties and not independently verified by investigators.
The witness further admitted that some persons linked to the documents either denied knowledge of them or were not confronted with the documents during the investigation.
On allegations that N49 billion realised from Arik Air asset sales was used to establish NG Eagle, Mr Kaltungo said the information came from Arik Air’s chief financial officer.
He added that the information was corroborated by EFCC findings.
In response to questions about alleged illegal benefits conferred by Mr Ilegbodu, the witness admitted that one beneficiary, identified as Mogaji, was never questioned because he was outside the country.
Mr Kaltungo said Mogaji later sent an email to the EFCC confirming receipt of the benefit.
He added that the information formed part of the commission’s report.
However, when asked to identify the relevant section of the report, the witness was unable to do so.
The defence later presented two internal memos showing that Arik Air approved travel expenses for Mogaji, a member of the airline’s advisory committee.
Justice Mojisola Dada adjourned the case until June 25 for continuation of cross-examination.
(NAN)