Ex-AMCON MD Kuru, Others Face EFCC Charges Over Alleged ₦76bn Fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four others for allegedly defrauding Arik Air of ₦76 billion and $31.5 million.
Other defendants include Kamilu Omokide, the former Receiver Manager of Arik Air; Captain Roy Ilegbodu, the airline’s Chief Executive Officer; and Super Bravo Limited.
The defendants are facing six counts of theft, abuse of office, and dishonest appropriation of another’s property. However, they pleaded not guilty to the charges.
Defense counsel, Professor Taiwo Osipitan, SAN, and Mr. Olasupo Shasore, SAN, requested bail for the defendants, with the second defendant seeking bail on self-recognition.
Opposing the bail applications, EFCC Counsel, Mr. Wahab Shittu, SAN, argued against the possibility of the defendants fleeing the country.
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Justice Mojisola Dada granted bail to each defendant in the sum of ₦20 million with one surety in like sum. The court stipulated that the sureties must be gainfully employed and provide valid identification. Additionally, the defendants were ordered to surrender their international passports to the court registrar.
The court ruled that the defendants remain in the custody of their respective counsel until they fulfill the bail conditions.
The trial is scheduled to begin on March 17, 2025.
The EFCC alleged that in 2022, Kuru, Omokide, and Ilegbodu fraudulently converted ₦4.9 billion for personal use through NG Eagle Ltd. Furthermore, it claimed that Captain Ilegbodu diverted ₦22.5 million to benefit Magashi Ali Mohammed, a property of Arik Air Ltd.
