Court admits AMCON board resolutions in Arik receivership trial

Court Admits AMCON Board Resolutions in Arik Receivership Trial
The Special Offences Court sitting in Ikeja, Lagos, on Monday admitted Asset Management Corporation of Nigeria (AMCON) board resolutions as proof within the ongoing trial of former AMCON Managing Director, Ahmed Kuru, and others over the receivership of Arik Air.

Justice Mojisola Dada admitted the paperwork after rejecting the prosecution’s objection to their relevance and admissibility.

The ruling adopted arguments in the course of the cross-examination of the fourth prosecution witness, Bawa Usman Kaltungo, by counsel to the second defendant, Uyi Giwa-Osagie.

Kaltungo, who recognized himself as the pinnacle of the AMCON desk on the Economic and Financial Crimes Commission (EFCC) and chief of its investigating workforce, maintained that Kuru had unfettered powers as AMCON’s managing director and chief govt officer and unilaterally permitted Arik Air’s receivership.

To problem the testimony, Giwa-Osagie tendered AMCON board resolutions, arguing that the paperwork would set up that the receivership was a company choice reasonably than Kuru’s unilateral motion.

The prosecution, nevertheless, objected to their admission, describing the paperwork as “too remote” to the case.

In urging the courtroom to confess the paperwork, Giwa-Osagie argued that his consumer was not standing trial over the propriety of appointing a receiver however confronted different costs contained within the cost sheet.

He maintained that the paperwork had been related to the case and will assist set up Kuru’s innocence. He additionally argued that they had been public paperwork correctly tendered earlier than the courtroom.

In its bench ruling, the courtroom upheld their relevance, stating that the paperwork emanated from AMCON’s board as a company physique and had been duly licensed in accordance with Section 104 of the Evidence Act.

The EFCC instituted the case following a petition by Arik Air promoters and shareholders by way of their counsel, Femi Falana (SAN).

Other defendants embody former receiver supervisor Kamilu Omokide, Arik Air Chief Executive Officer Captain Roy Ilegbodu, Union Bank Limited and Super Bravo Limited.

The trial was adjourned to the sooner scheduled date, Tuesday, October 27, 2026.