EFCC Docks Ex-AMCON MD, 4 Others Over N76bn, $31.5m Fraud

• EFCC has arraigned a former Managing Director of Assets Management Corporation of Nigeria (AMCON) had four others.

• The defendants were arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja.

• The defendants pleaded not guilty to all the six-count charges.

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned a former Managing Director of Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four others for allegedly defrauding Arik Airline N76 billion and $31.5 million.

According to the EFCC Head, Media & Publicity, Dele Oyewale, the defendants were arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on a six-count charge bordering on theft, abuse of office, and stealing by dishonestly taking the property of another.

The defendants, who pleaded not guilty to all the six-count charges, include former Receiver Manager of Arik Airline Ltd, Kamilu Omokide; Chief Executive Officer of the airline, Captain Roy Ilegbodu; and Super Bravo Ltd and Union Bank plc.

Oyewale stated that count one reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71 billion to AMCON.”

Count two reads: “That you, Ahmed Lawal Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4.9 billion, property of Arik Air Limited.”

The Counsel to the first and third defendants, Prof Taiwo Osipitan (SAN), informed the court of a motion for bail application dated November 28, 2024, and November 29, 2024, for the two defendants. Osipitan prayed the court that the defendants be granted bail on liberal terms.

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EFCC Counsel, Wahab Shittu SAN, filed counter-affidavits dated December 2, 2024, against the first defendant and also another counter affidavit dated December 22, 2024, against the third defendant. Shittu prayed the court to dismiss their bail applications.

Justice Dada granted bail to the defendants in the sum of N20 million naira each with two sureties in like sum. She also directed that the defendants must submit their international passports with the registrar of the court.

The matter was adjourned until March 17, 18, and 19, 2025, for commencement of trial.

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