An Ikeja Special Offences Court in Lagos has scheduled the arraignment of Ahmed Kuru, the former managing director of the Asset Management Corporation of Nigeria (AMCON), for January 20, 2025, over an alleged fraud totaling N76 billion and $31.5 million. Kuru, alongside Roy Ilegbodu, the managing director of Arik Air, Kamilu Omokide, the receiver manager of Arik Air, Union Bank Nigeria Plc, and Super Bravo Limited, will face charges related to the fraudulent activities.
The case follows a petition filed by senior advocate Femi Falana on behalf of Johnson Arumemi, the founder of Arik Air, and the airline’s shareholders. According to the Economic and Financial Crimes Commission (EFCC), Union Bank allegedly provided false statements to AMCON about Arik Air’s loans and bank guarantees, leading to a transfer of N71 billion to AMCON.
EFCC has accused Kuru, Omokide, and Ilegbodu of embezzling and fraudulently converting N4.9 billion for the use of NG Eagle Limited in 2022. Additionally, Kuru and Omokide are accused of incorporating NG Eagle Limited for personal gain. The EFCC also claims that Kuru, Omokide, and Ilegbodu authorized the destruction of a 5N-JEA aircraft valued at $31.5 million in February 2022.
On December 3, Kuru and his legal team were absent from court, prompting Judge Mojisola Dada to issue a bench warrant for his arrest. However, during the court session on Thursday, Kuru’s lawyer, Olasupo Shasore, provided an undertaking assuring the court that Kuru would appear for his arraignment on January 20, 2025. Prosecution counsel, Wahab Shittu, did not object to this assurance, and the bench warrant against Kuru was revoked. The case was adjourned to the scheduled date.
