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| AHMED KURU, FORMER MANAGING DIRECTOR OF AMCON |
•As Court Orders Arrest of Ex-AMCON MD Ahmed Kuru Over ₦76 Billion Fraud Allegations
An Ikeja Special Offences Court on Tuesday issued a bench warrant for the arrest of Ahmed Lawal Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON).
Justice Mojisola Dada issued the ruling after Kuru and his lead counsel, Olasupo Shasore (SAN), failed to appear for his scheduled arraignment in a high-profile ₦76 billion fraud case.
Charges and Accusations
The Economic and Financial Crimes Commission (EFCC) had filed six charges against Kuru and his co-defendants: Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited.
The charges include making false statements, abuse of office, theft, fraudulent conversion, and dishonest conversion of property.
The EFCC alleged that in 2011, Union Bank misled AMCON by providing false information about Arik Air Limited’s performing loans, resulting in the fraudulent transfer of ₦71 billion to AMCON.
Kuru and Omokide, acting as receivers and managers of Arik Air Limited, are accused of stealing ₦4.9 billion from NG Eagle Limited in 2022.
Additionally, Ilegbodu, as CEO of Arik Air under receivership, is alleged to have diverted ₦22.5 million in May 2024 to Magashi Ali Mohammed, reportedly a property of Arik Air.
Alleged Abuse of Office and Property Conversion
The EFCC further claimed that Kuru and Omokide abused their positions by incorporating NG Eagle Limited in 2019 to serve as a front for illicit activities.
The company was allegedly used to gain undue advantages for themselves and their associates.
In a particularly alarming accusation, the defendants reportedly authorized the destruction of a Boeing 737 aircraft valued at $31.5 million on February 12, 2022.
The EFCC described this act as arbitrary and damaging to Nigeria’s economic stability, impairing the operations of Arik Air.
Furthermore, Kuru, Omokide, and Super Bravo Limited are accused of dishonestly converting three Boeing aircraft—identified as 5N-MJG, 5N-MJN, and 5N-MJE—belonging to Arik Air.
These actions allegedly benefited Super Bravo Limited and occurred as recently as November 29, 2023.
Court Proceedings and Arrest Order
During Tuesday's court session, EFCC prosecutor, Dr Wahab Shittu (SAN) led the case, while several Senior Advocates of Nigeria represented the defendants.
Mr I.B. Amefula, counsel for Kuru, informed the court that Shasore was on his way to court with Kuru, prompting Justice Dada to temporarily stand down the case.
However, when Kuru failed to appear, the judge issued a bench warrant for his immediate arrest.
The court adjourned proceedings to January 20, 2025, to allow for Kuru’s arrest and eventual arraignment.
Broader Implications
The EFCC described the case as a landmark in Nigeria’s fight against corruption and a critical test of the nation’s commitment to transparency and accountability.
The agency highlighted the alleged offences as violations of multiple sections of Lagos State’s Criminal Law, including Sections 96, 278(1)(a), 278(6), and 73.
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