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

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.”

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

 - NigerianEye
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