EFCC arraigns ex-AMCON boss Kuru over alleged N76bn, $31.5m fraud

The Economic and Financial Crimes Commission (EFCC), has arraigned Ahmed Kuru, a former managing director of Asset Management Corporation of Nigeria (AMCON), over allegations of fraud.

In a statement on Monday, the commission said Kuru was arraigned alongside Roy Ilegbodu, managing director of Arik Air; Kamilu Omokide, receiver manager of Arik Air; Union Bank Plc and Super Bravo Limited, before Mojisola Dada, judge of the special offences court in Ikeja, Lagos.

The defendants pleaded not guilty to the six-count charge bordering on theft of properties belonging to Arik Air and abuse of office.

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.

THE ALLEGATIONS

Based on the charge sheet, EFCC accused Union Bank of making false statements to AMCON regarding Arik Air’s loans and bank guarantees, resulting in the transfer of a sum of N71 billion to AMCON.

The anti-graft agency accused Kuru, Omokide, and Ilegbodu of stealing and “fraudulently converting N4.9 billion for the use of NG Eagle Limited in 2022”.

The EFCC also accused Kuru and Omokide of intentionally incorporating a company — NG Eagle Limited — for the purpose of obtaining undue advantage for themselves and cronies.

The anti-graft agency alleged that Kuru, Omokide, and Ilegbodu authorised the destruction of 5N-JEA aircraft valued at $31.5 million on February 12, 2022.

“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,” the charge sheet 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, 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.

“That you, CAPT. ROY ILEGBODU as MD/CEO of Arik Air Ltd in receivership, in May, 2024 or thereabout, in Lagos within the jurisdiction of this Honourable Court, did steal the sum of N22,500,000.00 (Twenty-Two Million, Five Hundred Thousand Naira) by fraudulently converting same to the use of Magashi All Mohammed property of Arik Air Ltd.

“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.”