Nigeria, April 28 -- A prosecution witness in the trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has told the Special Offences Court in Lagos that Arik Air had repaid 38 per cent of its foreign loan obligations before the airline was taken over by the agency.

The witness, Bawa Kaltungo, a zonal director of the Economic and Financial Crimes Commission (EFCC) in Lagos, gave testimony before a trial judge Mojisola Dada on Tuesday.

The director was led in evidence by prosecution lawyer Wahab Shittu, a Senior Advocate of Nigeria (SAN).

Mr Kuru is standing trial alongside Kamilu Omokide, Roy Ilegbodu, Union Bank of Nigeria and Super Bravo Limited over an alleged fraud involving N76 billi...