The Economic and Financial Crimes Commission (EFCC) presented a series of financial documents to the Special Offences Court in Ikeja, Lagos, alleging that billions of naira and foreign‑currency loans belonging to Arik Air were diverted to fund the start‑up of NG Eagle Airlines.
Acting Zonal Director of the EFCC in Kaduna, testified under the guidance of lead counsel Dr. Wahab Shittu (SAN).
He said Arik Air’s accounts show transfers of N1.9 billion and N4.9 billion that were not used for the airline’s operational purposes but were instead allocated to NG Eagle, covering expenses such as staff salaries and quarterly financial obligations.
Documents tendered included correspondence, internal memos, restructuring records, notices of assignment and payment instructions.
