Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, has issued an arrest warrant for the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, over his alleged involvement in property theft and abuse of office.
Kuru was expected to appear in court on Monday to face a six-count charge brought against him by the Economic and Financial Crimes Commission (EFCC).
The charges include stealing property worth N4.9 billion belonging to Arik Air and alleged fraudulent activities during his tenure.
Other defendants in the case include the current Managing Director of Arik Air, Captain Roy Ilegbodu; the airline’s Receiver Manager, Kamilu Omokide; Union Bank Plc; and a company, Super Bravo Limited.
The complainants, led by Arik Air founder Johnson Arumemi and other shareholders, allege gross misconduct and financial misappropriation in the management of the airline’s assets.
In one of the charges, Union Bank is accused of making false statements about Arik Air’s financial health, facilitating the airline’s takeover by AMCON. This act allegedly contravenes Section 96 of the Criminal Law of Lagos State, 2015.
Another charge accuses Kuru, Omokide, and others of fraudulently converting N4.9 billion worth of assets belonging to Arik Air for the benefit of NG Eagle Limited.
This alleged act of theft and fraudulent conversion violates Section 278(1)(a) of the Criminal Law of Lagos State, 2011.
Representing the complainants, a Senior Advocate of Nigeria, Femi Falana, outlined the accusations, emphasizing the detrimental impact of the defendants’ actions on the airline and its shareholders.
Justice Dada, expressing dismay over Kuru’s absence, issued a bench warrant for his arrest to ensure his presence at the next hearing.
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