The Economic and Financial Crimes Commission (EFCC) has filed charges against Ahmed Kuru, former Managing Director of the Asset Management Corporation of Nigeria (AMCON), and several top executives of Arik Air, including Roy Ilegbodu and Kamilu Omokide, over their involvement in an alleged N76 billion loan fraud.
The accused individuals are facing trial for their roles in a scandal that has sent shockwaves through both the aviation and banking sectors. The charges stem from fraudulent financial activities, including misleading AMCON about Arik Air’s loan performance and the illegal conversion of company assets for personal use.
The case was brought before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, on Thursday, December 12, 2024. The court adjourned the proceedings to January 20, 2025, for the formal arraignment of Ahmed Kuru, former MD of AMCON, who had failed to appear for the initial arraignment.
The court had issued a bench warrant for Kuru’s arrest on December 3, 2024, after his failure to attend. The charges highlight several alleged fraudulent actions, including a false report to AMCON about Arik Air’s loan status, which led to the transfer of N71 billion to AMCON.
Other counts accuse Kuru, Ilegbodu, and Omokide of converting funds for their personal use and authorizing the destruction of an aircraft valued at $31.5 million. At Thursday’s court session, Kuru’s counsel, Olasupo Shasore, assured the court that his client would appear for the January arraignment.
In response, Wahab Shittu, prosecution counsel indicated no objection, noting the signed undertaking to ensure Kuru’s presence. Justice Dada subsequently revoked the bench warrant, allowing the case to proceed.
The court adjourned the matter to January 20, 2025, for the arraignment of all accused individuals.
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