Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, has adjourned the arraignment of former Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and others to January 20, 2025.
Kuru, alongside Capt. Roy Ilegbodu, Managing Director of Arik Air; Kamilu Omokide, Receiver Manager of Arik Air; Union Bank Nigeria Plc; and Super Bravo Limited, is facing charges of alleged fraud involving N75 billion and $31.5 million.
The court had previously issued a bench warrant for Kuru’s arrest on December 3, 2024, after his failure to appear for arraignment. However, at Thursday’s sitting, his counsel, Olasupo Shasore, SAN, assured the court that Kuru would be present for the January 20 proceedings.
The prosecution, led by Wahab Shittu, SAN, did not object to setting aside the bench warrant, citing the undertaking signed by Kuru’s counsel to ensure his presence in court. Justice Dada subsequently vacated the warrant in her ruling.
The charges against the defendants include allegations of false statements, fraudulent conversion of funds, and abuse of office. Notably, one count accuses Union Bank of inflating Arik Air’s loans to N71 billion in 2011 to induce unwarranted sales to AMCON. Another count alleges that Kuru, Omokide, and Ilegbodu diverted N4.9 billion belonging to Arik Air to NG Eagle Limited in 2022.
A further charge involves the destruction of an aircraft valued at $31.5 million, allegedly authorized by the defendants, described as prejudicial to Nigeria’s economic stability.
The arraignment of all defendants will take place on January 20, 2025, with the court expected to address the serious allegations and determine the way forward.
