The Economic and Financial Crimes Commission (EFCC) has arraigned the former Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, for allegedly defrauding Arik Air.
Kuru and four others on Monday appeared before Ikeja Special Offences Court for alleged N76 billion and $31.5 million fraud, respectively.
The other defendants are 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 for theft, abuse of office and dishonestly taking the property of another.
The bank was charged with making false statements to a public officer.
The defendants, however, pleaded not guilty to the charge.
Counsel to first and third defendants, Prof Taiwo Osipitan (SAN), informed the court of a motion for bail and argued that the alleged offences were bailable and not capital ones.
He who urged the court to grant bail to the defendants on liberal terms, said the first defendant had no criminal records and was granted an administrative bail by the EFCC.
He said the defendants had the opportunity to jump bail but did not
“EFCC granted them administrative bail 18 months ago in which they did not not jump bail.
“We pray the court to grant bail to the two defendants on the same liberal terms given to them by EFCC,” Osipitan said.
The EFCC Counsel, Dr. Wahab Shittu (SAN), informed the court that he filed counter-affidavits against 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.
Shittu added that the temptation of the defendants leaving the country was very high.
He, thereafter, suggested that accelerated hearing be granted, and the defendants’ international passports be seized by the court.
“My lord, this is a national emergency and we shall be opposing to the bail application.
“But if my lord decides to be magnanimous to grant them bail, we shall be praying for stringent conditions because we are particular about their attendance in court.
“We urge that they should submit their international passports with the court in order 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.
Shasore, in his bail application, supported by 17 paragraphs affidavits, argued that bail application was to secure attendance of defendants in court.
“We assure the court that the production of the defendant will be guaranteed.
“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.
The prosecution in his counter affidavits dated Jan. 17, opposed the bail application of the second defendant.
He said the second defendant’s application for bail was incompetent and and should be struck out.
Shittu cited relevant laws to buttress his argument.
He said: “My lord the record of this court is to the effect that the second defendant, at one point absconded in which your lordship had to issue a bench warrant.
“Learned silk for the second defendant is not the defendant on trial, and it is very unhealthy for a counsel to stand as a surety for a defendant.
“For a serious matter of high national importance, we must thread 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.”
After listening to the arguments from the parties, Justice Mojisola Dada, granted bail to the defendants in the sum of N20 million each 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.
The case was adjourned until March 17 for 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, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees, made false statements to AMCON.
EFCC said the false statement was made regarding Arik Air Ltd’s performing loans and later transferred the sum of N71 billion to AMCON.
The commission also alleged that Kuru, Omokide and Ilegbodu sometime in 2022, fraudulently converted to the use of NG Eagle Ltd, the total sum of N4.9 billion.
The anti-graft agency also alleged that the CEO of Arik stole the sum of N22.5 million by fraudulently converting same to the use of Magashi Ali Mohammed.
EFCC said the money belonged to Arik Air Ltd.
The EFCC also alleged that the defendants obtained undue advantage for themselves and intentionally authorised the tear down and destruction of 5N-JEA with Serial No. 15058 valued at $31.5 million, an arbitrary act.
EFCC 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.
