A former executive director of Nigeria’s Union Bank has testified before a Lagos State Special Offences Court, revealing that he wrote off a USD2.3 million debt owed by Arik Air (W3, Lagos) to his private firm.

Austine Obigwe appeared on May 28 as a prosecution witness in the ongoing trial of former Asset Management Corporation of Nigeria (AMCON) managing director Ahmed Kuru and four others, who face charges of alleged financial misappropriation totalling NGN76 billion naira (USD47.8 million) and USD31.5 million. The charges…

Source: ch aviation
Read more: Nigerian ex-banker wrote off .3mn of Arik Air's debt