Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, has ordered the arrest of the former Managing Director of the Asset Management Corporation of Nigeria, Ahmed Lawal Kuru, over an alleged fraud involving N76 billion and $31.5 million.
The court issued the bench warrant for Kuru’s failure to show up in court for his arraignment.
Kuru alongside Captain Roy Ilegbodu, the Managing Director of Arik Air; Kamilu Omokide, the receiver-manager of Arik Air; Union Bank PLC; and Super Bravo Limited had been expected for arraignment before the court on Tuesday by the Economic and Financial Crimes Commission.
The suspects are slammed with six charges, including making false statements, fraudulent conversion, abuse of office, stealing, and dishonest conversion of property.
According to the anti-graft body, in 2011, Union Bank Nigeria Plc caused the unwarranted sale of Arik Air’s loans and bank guarantees by making false statements to AMCON regarding Arik Air’s performing loans, later transferring N71 billion to AMCON.
The Commission accused Kuru, Omokide, and Ilegbodu of stealing and fraudulently converting N4.9 billion for their own use through NG Eagle Limited in 2022.
The EFCC also alleged Ilegbodu, in his role as MD/CEO of Arik Air Ltd in receivership, of stealing N22.5 million in May 2024, which he fraudulently converted for the use of Magashi Ali Mohammed’s property of Arik Air Ltd.
On July 11, 2019, EFCC argued that Kuru and Omokide, in their roles as public officers, incorporated NG Eagle Limited (RC Number 1600277) to secure undue advantage for themselves and their associates.
The accused parties are also alleged to have authorised the destruction of a Boeing aircraft, valued at $31.5 million, on February 12, 2022, in an arbitrary act harmful to the economic stability of Nigeria and Arik Air.
The Commission added that on November 29, 2023, the defendants allegedly converted three Boeing aircraft, registered 5N-MJG, 5N-MJN, and 5N-MJE, belonging to Arik Air, for use by Super Bravo Limited.
These offenses, the Commission said contravene various sections of the criminal law of Lagos State, including Sections 96, 278(1)(a), 278(1)(b), and 278(6) of the Criminal Law of Lagos State (2011 and 2015).
However, the parties’ scheduled arraignment on Tuesday was disrupted by Kuru’s absence, as well as the absence of his lead counsel, Olasupo Shasore SAN.
During the court session, the prosecution, led by Wahab Shittu SAN, announced his appearance, while Taiwo Osipitan SAN represented Omokide and Ilegbodu.
Olalekan Ojo SAN announced his appearance for the fourth defendant (Union Bank of Nigeria Plc), while Tayo Oyetibo SAN appeared for the fifth defendant (Super Bravo Limited), and I.B. Amefula appeared for the second defendant holding a brief of Olasupo Sashore (SAN).
But Ahmed Kuru, the second accused person was absent from court and was not represented.
Kuru’s absence prompted the court to issue a bench warrant for his arrest.
Shittu argued that Kuru had repeatedly skipped administrative bail granted by the EFCC, was uncooperative, and had blocked all communication with the commission, making him unavailable at his residence.
Justice Dada granted the prosecution’s request and issued the bench warrant for Kuru’s arrest and adjourned the matter till January 20, 2025, for the arraignment of the defendants.
