An Ikeja special offences court in Lagos has issued an arrest warrant for Ahmed Kuru, the former managing director of the Asset Management Corporation of Nigeria (AMCON), after he failed to appear for his trial.
Kuru was scheduled to face arraignment on a six-count charge of theft and abuse of office.
On Tuesday, December 3, Kuru and his legal team were absent from the court, prompting trial judge Mojisola Dada to order his arrest. The Economic and Financial Crimes Commission (EFCC) had filed the charges against Kuru, Roy Ilegbodu, the managing director of Arik Air; Kamilu Omokide, the receiver manager of Arik Air; Union Bank; and Super Bravo Limited, a company.
The case stems from a petition filed by Femi Falana, a senior advocate of Nigeria, on behalf of Johnson Arumemi, the founder of Arik Air, and the airline’s shareholders.
According to the charge sheet, the EFCC accused Union Bank of making false statements to AMCON regarding Arik Air’s loans and bank guarantees, leading to the transfer of N71 billion to AMCON. The anti-graft agency also accused Kuru, Omokide, and Ilegbodu of stealing and fraudulently converting N4.9 billion for the use of NG Eagle Limited in 2022.
Further, the EFCC alleged that Kuru and Omokide intentionally incorporated a company called NG Eagle Limited to obtain undue advantages for themselves and their associates. The agency also accused the three men of authorizing the destruction of an aircraft, 5N-JEA, valued at $31.5 million, on February 12, 2022.
The charge sheet detailed the accusations: “That you, UNION BANK NIGERIA PLC, sometimes in 2011 or thereabout, 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 N71,000,000,000.00 (Seventy-One Billion Naira) to AMCON.”
It continued: “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, sometimes 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 N4,900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited.”
The charges also stated that Kuru and Omokide abused their authority by incorporating NG Eagle Limited for their personal benefit: “That you, AHMED LAWAL KURU as Managing Director of Asset Management Corporation of Nigeria (AMCON) and KAMILU ALABA OMOKIDE as Receiver/Manager of Arik Air Ltd. being public officers, on 11th July, 2019 or thereabout in Lagos, within the jurisdiction of this Honourable Court, directed to be done in abuse of the authority of your offices an arbitrary act, to wit: intentionally and in violation of the discharge of your functions incorporated a Company called NG Eagle Limited, RC Number 1600277 for the purpose of obtaining undue advantage for yourself and or cronies.”
