WATCH THE VIDEO HERE The Economic and Financial Crimes Commission (EFCC) on Monday arraigned five individuals, including the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, and the chief executive of Arik Air, Mr Roy Ilegbodu, for allegedly defrauding the airline of N76 billion and $31.5 million. The other defendants included former Receiver Manager of Arik Air, Mr Kamilu Omokide; and Super Bravo Ltd. The defendants faced six counts of theft, abuse of office, and stealing by dishonestly taking property. They all pleaded not guilty to the charges. It must however be noted that Mr Kuru voluntarily went to court to answer the charges filed against him by the EFCC. During the proceedings, the defense counsel for Mr Kuru and Mr Ilegbodu, Mr Taiwo Osipitan, who is a Senior Advocate of Nigeria (SAN), submitted bail applications dated November 28 and 29, 2024. He argued that the defendants had no prior criminal records and had complied with prior administrative bail terms. The SAN requested that they be granted bail under similar liberal terms, noting they had not attempted to flee. However, EFCC Counsel, Mr Wahab Shittu (SAN), filed counter-affidavits on December 2 and 22, 2024, opposing the bail applications. He argued that the charges against the defendants were serious, involving economic sabotage, and expressed concern about the risk of flight. Mr Shittu proposed the seizure of their international passports and called for accelerated hearings. The defense counsel for Mr Omokide, Mr Olasupo Shasore (SAN), filed a motion on December 6, 2024, requesting bail on self-recognition. He pointed out that Mr Omokide had previously been granted administrative bail. In response, Shittu opposed the application, citing Mr Omokide’s past failure to attend court, which led to the issuance of a bench warrant. After considering the arguments, Justice Mojisola Dada granted bail to the defendants in the sum of N20 million each, with one surety per defendant in like sum. The sureties must be gainfully employed, and proof of identification must be provided. The defendants were ordered to surrender their international passports. The case was adjourned until March 17, 2025, for the commencement of trial. The anti-graft agency had accused the trio— Mr Kuru, Mr Omokide, and Mr Ilegbodu— of fraudulently converting N4.9 billion to the use of NG Eagle Ltd in 2022. Additionally, Mr Ilegbodu was charged with stealing N22.5 million, fraudulently converting it to the use of Magashi Ali Mohammed, a property of Arik Air Ltd. Furthermore, the defendants were accused of authorising the destruction of an aircraft valued at $31.5 million, prejudicing Nigeria’s economic stability and Arik Air’s interests. The prosecution claimed the offences violated Sections 73, 96, 278(1), and 278(6) of the Criminal Law of Lagos State, 2015.
EFCC Arraigns Ex-AMCON MD, Arik CEO, Others Over Alleged N76bn, $31.5m Fraud
