Witness Testifies on Arik Air's Debt Before AMCON Takeover
A prosecution witness in the ongoing trial involving the Economic and Financial Crimes Commission (EFCC) and former AMCON Managing Director, Mr Ahmed Kuru, has admitted that Arik Air Limited had a non-performing loan of over N71 billion prior to its acquisition by the Asset Management Corporation of Nigeria (AMCON).
In other news, Transcorp Power Plc, a leading power generation company, has announced its unaudited financial results for the third quarter ended 30 September 2025, showcasing a strong performance marked by significant revenue growth and profitability.
- The company reported a 38% year-on-year increase in revenue, reaching ₦308.5 billion in Q3 2025.
- This growth was attributed to a rise in average power generation, reflecting Transcorp Power’s sustained investment in generation capacity and operational efficiency.
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Author's summary: EFCC witness admits Arik Air's huge debt before takeover.