KEY POINTS
- An Ikeja Special Offences Court has admitted a petition with 39 annexures as evidence in the trial of former AMCON MD Ahmed Kuru and others over an alleged N76 billion and $31.5 million fraud.
- The EFCC claims Kuru, along with Arik Air receiver-manager Kamilu Omokide and other defendants, conspired to steal and fraudulently convert assets belonging to the defunct Arik Air Ltd.
- Testimonies revealed the CBN intervened in Arik Air under Godwin Emefiele’s chairmanship to prevent the airline’s collapse, which at the time carried 60% of national passenger traffic.
MAIN STORY
An Ikeja Special Offences Court has admitted a petition and 39 annexures into evidence during the ongoing trial of Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON). Kuru and his co-defendants, including Arik Air receiver-manager Kamilu Omokide and Managing Director Roy Ilegbodu, face charges related to an alleged N76 billion and $31.5 million fraud.
The Economic and Financial Crimes Commission (EFCC) alleges the group conspired to abuse their offices and steal assets from the defunct Arik Air Ltd.
The prosecution’s fourth witness, Bawa Kaltungo of the EFCC, testified that Omokide had previously petitioned the Attorney-General to halt the investigation, citing harassment. Kaltungo also detailed the 2017 takeover of Arik Air, referencing a Central Bank of Nigeria (CBN) meeting chaired by then-Governor Godwin Emefiele. The witness stated that the intervention was deemed urgent because the airline was on the verge of collapse within two weeks and had been effectively abandoned by its owners.
During the investigation, the EFCC discovered that funds from Arik Air were allegedly used to settle insurance payments for Umza Airline. While the prosecution attempted to tender a Certified True Copy (CTC) of the insurance certificate to prove abuse of office, the defense team led by several Senior Advocates of Nigeria objected.
They argued the document was unrelated to the specific counts in the current charge. Justice Mojisola Dada ultimately rejected the insurance certificate, noting its absence from the six-count charge, and adjourned the matter to February 26.
WHAT’S BEING SAID
- “The chairman disclosed that the state of Arik Airline Ltd. had deteriorated and urgent steps were needed to save it,” testified Bawa Kaltungo, quoting the CBN meeting minutes.
- Kaltungo noted that the first defendant’s petition to the Attorney-General was “essentially requesting that the investigation be stopped.”
- Regarding the rejected evidence, Justice Mojisola Dada ruled that the insurance certificate was “not included in the six-count charge before the court.”
WHAT’S NEXT
- Trial Continuation: The case resumes today, February 26, for further testimony and cross-examination of the prosecution’s witnesses.
- Amended Charges: The prosecution has indicated an intent to amend the current charges to include details regarding the alleged diversion of funds for insurance payments.
- Defense Response: Counsel for the five defendants will continue to challenge the admissibility of documents not explicitly referenced in the initial filings.
BOTTOM LINE
The Bottom Line is that the trial of former AMCON MD Ahmed Kuru has entered a critical evidentiary phase. While the court has admitted a significant bundle of documents regarding the Arik Air takeover, the rejection of the insurance certificate highlights the ongoing legal battle over the scope of the N76 billion fraud allegations.
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