The Special Offences Court sitting in Ikeja, Lagos, has adjourned the trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, in a case involving allegations of large-scale financial misconduct amounting to ₦76 billion and $31.5 million.
The Economic and Financial Crimes Commission (EFCC) arraigned Mr. Kuru alongside four co-defendants: Kamilu Omokide, a former Receiver Manager of Arik Air; Captain Roy Ilegbodu, a former CEO of Arik Air; Union Bank of Nigeria Plc; and Super Bravo Ltd. They are facing a six-count charge bordering on conspiracy, stealing, and abuse of office in connection with the misappropriation of funds allegedly siphoned during the administration of Arik Air under AMCON receivership.
During the proceedings, the prosecution called its first witness, Mr. Peter Omokaro, a former Assistant General Manager with Union Bank, who provided testimony regarding the complex financial arrangements and guarantees surrounding the acquisition of aircraft for Arik Air. Mr. Omokaro stated that Union Bank did not disburse funds.