By Our Correspondent
Ikeja, Jan. 20, ‘25 (TNZ) The Economic and Financial Crimes Commission (EFCC) has dragged former Managing Director of Asset Management Cooperation of Nigeria (AMCON), Ahmed Kuru, to court for allegedly defrauding Arik Air.
TheNewsZenith reports that Kuru and four defendants appeared before the Ikeja Special Offences Court on Monday.
They are facing charges for alleged N76 billion and $31.5 million fraud respectively.
Other defendants are the former Receiver Manager of Arik Airline Ltd., Kamilu Omokide, Chief Executive Officer of the airline, Capt. Roy Ilegbodu, Union Bank Ltd and Super Bravo Ltd.
They are standing trial on a five-count charge bordering on theft, abuse of office and dishonestly taking the property of another.
The bank is facing a count charge of making false statements to a public officer. All defendants, however, pleaded not guilty to the charge.
Counsel to the first and third defendants, Prof. Taiwo Osipitan ( SAN), informed the court of a motion for bail.
Osipitan argued that the alleged offences were bailable and not capital offences. He urged the court to grant bail to the defendants on liberal terms.
According to him, the first defendant had no criminal records. EFCC eventually granted the defendant an administrative bail.
Osipitan added that the defendants had the opportunity to jump bail but did not.
“EFCC granted them administrative bail 18 months ago and they did not jump bail. We pray the court to grant bail to the two defendants on the same liberal terms given to them by EFCC,” He said.
The EFCC Counsel, Dr Wahab Shittu (SAN), informed the court that he filed counter-affidavits against the first and third defendants.
Shittu prayed the court to dismiss their bail applications. According to him, the two defendants are facing serious offences of economic sabotage.
He, however, agreed with the second and third defence counsel that they were presumed innocent pending the determination of the case.
“My lord, this is a national emergency and we shall be opposing the bail application.
“But if my lord decides to be magnanimous to grant them bail, we shall be praying for stringent conditions. This is because we are particular about their attendance in court.
“We urge that they should submit their international passports with the court to ensure that they come for trial,” Shittu said.
The counsel to the second defendant, Mr Olasupo Shasore (SAN), in his motion for bail, urged the court to also grant bail to his client on self-recognition.
In his bail application, supported by 17 paragraphs of affidavits, Shasore argued that bail application was to secure the attendance of defendants in court.
“We assure the court that the production of the defendant will be guaranteed.
Read Related News:
“We pray that the second defendant be granted bail on self-recognition, and he also continues to enjoy the terms earlier given by the court,” he said.
In a counter affidavit dated Jan. 17, the prosecution opposed the bail application of the second defendant.
He said the second defendant’s application for bail was incompetent and should be struck out.
Shittu cited relevant laws to buttress his argument.
My lord, the record of this court is to the effect that the second defendant, at one point absconded. Your lordship had to issue a bench warrant against him.
“Learned silk for the second defendant is not the defendant on trial. It is unhealthy for a counsel to stand as a surety for a defendant. For a serious matter of high national importance, we must tread with caution.
“I urge my lord, in exercising his discretion, to take all this into consideration because our concern is the appearance of the second defendant so that he does not abscond,” Shittu said.
After listening to both parties’ arguments, Justice Mojisola Dada granted N20 million bail to each defendant with one surety each in like sum.
Dada held that the sureties be gainfully employed and should depose to means of identification.
She also directed the defendants to submit their international passports to the registrar of the court.
“The defendants shall remain in the respective custody of their counsel pending the perfection of their bail condition,” the judge said. She adjourned the case until March 17 for the commencement of trial.
Earlier, the EFCC alleged that the defendants abused their office and stole property belonging to Arik Air.
The anti-graft agency alleged that sometime in 2011, Union Bank Nigeria, caused and/or induced the unwarranted sale of Arik Air loans and bank guarantees, and made false statements to AMCON.
EFCC said the false statement was made regarding Arik Air Ltd’s performing loans and later transferred N71 billion to AMCON.
The commission also alleged that Kuru, Omokide and Ilegbodu sometime in 2022, fraudulently converted N4.9 billion to the use of NG Eagle Ltd.
It also alleged that Arik’s CEO fraudulently converted N22.5 million to the use of Magashi Ali Mohammed.
EFCC said the money belonged to Arik Air Ltd. It also alleged that the defendants intentionally authorised the destruction of 5N-JEA with Serial No. 15058, an arbitrary act. The value of the property is $31.5 million.
The agency said the act was prejudicial to the economic stability of the Federal Republic of Nigeria and Arik Air Ltd.
According to the prosecution, the alleged offences contravene Sections 73, 96, 278(1) and 278(6) of the Criminal Law of Lagos State, 2015. (TNZ)
Do you have a flair for Citizenship Journalism? Share stories of happenings in your area with TheNewsZenith on WhatsApp: +2348033668669. For more scintillating news, visit our website: www.thenewszenith.com or follow us on YouTube: www.youtube.com/@thenewszenithOnline, Facebook: www.facebook.com/@thenewszenithonline & Tiktok: www.tiktok.com/@thenewszenithonline
