Court Issues Arrest Warrant for Ex-AMCON MD Over Alleged N76bn Fraud

• Justice Mojisola Dada issues an arrest warrant for Ahmed Kuru due to his absence in court regarding fraud charges against Arik Airline
• The EFCC has charged Kuru and four others with misappropriating N76 billion and $31.5 million, theft, and abuse of office

Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, has issued an arrest warrant for Ahmed Kuru, the former Managing Director of the Assets Management Corporation of Nigeria (AMCON). The warrant was issued on Tuesday due to Kuru’s absence during court proceedings.

The Economic and Financial Crimes Commission (EFCC) has charged Kuru and four others with alleged fraud involving Arik Airline.

The allegations include the misappropriation of N76 billion and $31.5 million, theft, abuse of office, and submission of false statements.

The other defendants include Kamilu Omokide, Arik Airline’s former Receiver Manager, the airline’s CEO Capt. Roy Ilegbodu, Union Bank Limited, and Super Bravo Limited.

The EFCC claims the defendants unlawfully took property belonging to others and misused their positions for personal gain.

During Tuesday’s hearing, the prosecution, led by Dr. Wahab Shittu (SAN), requested the court to issue a bench warrant for Kuru’s arrest.

Shittu argued that Kuru’s absence had delayed the arraignment and revealed that Kuru had repeatedly violated administrative bail conditions and cut off communication.

Shittu stated, “The second defendant has jumped bail multiple times and blocked all contact. Someone of his stature should not act this way. We urge the court to issue a bench warrant.”

Prof. Taiwo Osipitan (SAN), representing Omokide and Ilegbodu, urged the court to allow his clients to maintain their administrative bail.

Other legal representatives included Mr. Olalekan Ojo (SAN) for Union Bank, Mr. Tayo Oyetibo (SAN) for Super Bravo Limited, and Mr. I.B. Amefula, who appeared on Kuru’s behalf.

In her ruling, Justice Dada issued the bench warrant against Kuru, emphasizing that the warrant could be revoked if Kuru appears in court at the next hearing. The case has been adjourned to January 20, 2025, for arraignment.