EFCC witness tells Lagos court Arik Air did not owe Union Bank in receivership trial
Published · Updated
What happened
An EFCC witness told the Special Offences Court in Lagos on October 26 that Arik Air was not indebted to Union Bank and that the receivership process rested on false claims, according to courtroom reporting by Premium Times.
Why it matters
The testimony introduces a direct evidentiary challenge inside an active court case to the basis for a major receivership involving AMCON and a commercial bank. That can affect litigation strategy, creditor recovery expectations, and confidence in the legal treatment of distressed assets involving state-backed entities.
At a Special Offences Court hearing in Lagos on October 26, an EFCC witness testified that Arik Air's receivership was based on a false premise and that the airline was not indebted to Union Bank. The testimony came in a case linked to former AMCON leadership and directly challenges the factual basis for a state-backed intervention in a high-profile company. The development puts renewed attention on how AMCON, creditor banks and the courts handled the takeover and whether further legal or political pressure will follow.
Watch for
Special Offences Court filing or oral ruling on admissibility or weight of the EFCC witness testimony by 2026-10-30 EFCC confirmation of additional witnesses or documentary exhibits on Arik Air or Union Bank claims by 2026-10-30 AMCON court filing, affidavit, or public legal rebuttal addressing the debt basis for the receivership by 2026-10-30 Union Bank legal filing or statement contesting the witness account of Arik Air's indebtedness by 2026-10-30
Sources
- EFCC witness disputes Union Bank debt claim in Arik Air receivership trial · premiumtimesng.com