Arik Receivership: Court admits AMCON board resolutions

By Henry Ojelu The Lagos State Special Offences Court, Ikeja, on Monday admitted certified board resolutions of the Asset Management Corporation of Nigeria (AMCON) as evidence in the ongoing criminal trial of its former Managing Director, Ahmed Kuru, and others over the receivership of Arik Air Limited. Justice Mojisola Dada admitted the documents in a bench ruling, holding that they were relevant to the proceedings and duly certified in line with Section 104 of the Evidence Act, 2011.

The documents were tendered by counsel to the second defendant, Mr Uyi Giwa-Osagie, to counter the claim by the fourth prosecution witness, Bawa Usman Kaltungo, that Kuru had unilaterally authorised the receivership. Kaltungo, head of the AMCON desk at the Economic and Financial Crimes Commission, EFCC, and leader of its investigating team, had maintained during cross-examination that Kuru, as AMCON’s managing director and chief executive officer, had unfettered powers and personally sanctioned the receivership.

However, Giwa-Osagie tendered the certified board resolutions to establish that the decision was approved by AMCON’s board as a corporate body. The prosecution counsel, Dr Wahab Shittu, SAN, objected to the admissibility of the documents, arguing that they were too remote and irrelevant to the charges. But Giwa-Osagie argued that his client was not standing trial over the propriety of appointing a receiver but over other allegations contained in the charge sheet.

He maintained that the documents went to the root of the case and were capable of establishing his client’s innocence. He also argued that they were public documents duly certified and tendered from the Bar. In her ruling, Justice Dada upheld their admissibility, noting that the resolutions emanated from AMCON’s board as a corporate body and had been certified in accordance with the law.

The EFCC had arraigned Kuru; Kamilu Omokide, former receiver-manager of Arik Air; Captain Roy Ilegbodu, the airline’s chief executive officer; Union Bank Limited; and Super Bravo Limited over allegations arising from the airline’s receivership. The prosecution followed a petition by Mr Femi Falana, SAN, on behalf of Arik Air’s promoters and shareholders.

The court adjourned the case until October 27, 2026, for continuation of trial.