Leadnaija
The Economic and Financial Crimes Commission (EFCC) on Monday arraigned Ahmed Kuru, a former Managing Director of the Assets Management Corporation of Nigeria (AMCON), alongside four others, over allegations of defrauding Arik Air of N76 billion and $31.5 million.
The arraignment, confirmed in a statement by Dele Oyewale, EFCC’s Head of Media & Publicity, took place at the Special Offences Court in Ikeja, Lagos, before Justice Mojisola Dada.
The other defendants include Kamilu Omokide, a former Receiver Manager of Arik Air; Captain Roy Ilegbodu, CEO of the airline; Super Bravo Ltd; and Union Bank Plc.
They were charged with six counts bordering on theft, abuse of office, and dishonest misappropriation of funds.
One of the charges accused Union Bank Plc of falsifying Arik Air’s loan records in 2011 to induce the sale of its performing loans to AMCON for an inflated N71 billion.
In another charge, Ahmed Kuru, Omokide, and Ilegbodu were alleged to have fraudulently diverted N4.9 billion from Arik Air to NG Eagle Limited in 2022.
Additionally, the trio was accused of authorizing the destruction of a $31.5 million Arik Air aircraft, an act described as detrimental to Nigeria’s economic stability.
The defendants pleaded not guilty to all charges.
Counsel for the first and third defendants, Prof. Taiwo Osipitan, SAN, sought bail on liberal terms, citing their cooperation with the EFCC and lack of criminal records.
Similarly, Olasupo Shasore, SAN, representing the second defendant, requested bail on self-recognition, arguing that his client posed no flight risk.
However, EFCC Counsel, Wahab Shittu, SAN, opposed the bail applications, labeling the offenses as economic sabotage and warning of the high risk of the defendants absconding.
Shittu emphasized the need for stringent bail conditions, including the submission of international passports to the court.
Justice Mojisola Dada granted bail to all defendants in the sum of N20 million each with two sureties in like sum.
The sureties are required to be gainfully employed and provide proof of identification. The defendants were also directed to submit their international passports to the court registrar.
The trial is set to commence on March 17, 18, and 19, 2025.
This high-profile case underscores the EFCC’s commitment to tackling corruption and economic crimes in Nigeria.Tap Here To Read Full Details
