The Ikeja Special Offences Court in Lagos has set aside the arrest warrant issued against Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), in relation to a N76 billion and $31.5 million fraud case.
Kuru is scheduled to face trial on January 20, 2025.
Kuru is being charged alongside Kamilu Omokide, the Managing Director of Arik Air; the receiver manager of Arik Air; Union Bank Nigeria Plc; and Super Bravo Limited.
The charges stem from a petition filed by Femi Falana, a Senior Advocate of Nigeria (SAN), on behalf of Johnson Arumemi, the founder of Arik Air, and the airline’s shareholders.
Kuru’s failure to attend court on Thursday led Judge Mojisola Dada to issue an arrest order.
However, Kuru’s lawyer, Olasupo Shasore, submitted a motion assuring the court that Kuru would be present for his arraignment on the new trial date.
The prosecution counsel, Wahab Shittu, agreed to the motion, stating that, based on the assurance from Kuru’s counsel, they would not oppose the revocation of the arrest warrant.
Following the assurance, Judge Dada lifted the bench warrant and adjourned the case to January 20, 2025.
The Economic and Financial Crimes Commission (EFCC) has accused Union Bank of making false statements to AMCON regarding loans and bank guarantees related to Arik Air, which led to the transfer of N71 billion to AMCON.
Additionally, Kuru, Omokide, and Ilegbodu are accused of stealing and fraudulently diverting N4.9 billion for the benefit of NG Eagle Limited in 2022.
The EFCC also claims that Kuru and Omokide intentionally incorporated NG Eagle Limited to gain unfair advantage, and authorized the destruction of an aircraft valued at $31.5 million in February 2022.
