An Ikeja Special Offences Court has lifted the bench warrant previously issued against Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), who is facing serious fraud charges.
On Thursday, Justice Mojisola Dada ruled in favor of Kuru, setting aside the bench warrant after his legal counsel, Mr. Olasupo Shasore (SAN), assured the court that Kuru would be present for his upcoming arraignment.
The former AMCON boss is charged with fraud related to Arik Airlines, including the alleged embezzlement of over N76 billion and $31.5 million. Kuru is also accused of abuse of office, theft, and making false statements to public officers.
The Bench Warrant and the Court’s Ruling
The court had initially issued a bench warrant on December 3, 2024, after Kuru failed to attend the scheduled arraignment. This failure prompted concerns over his commitment to attending the trial.
However, in Thursday’s hearing, Kuru’s defense team filed a motion on notice, presenting a signed undertaking by Shasore. This written promise assured the court that Kuru would attend his trial and appear for his next scheduled arraignment on January 20, 2025.
Justice Dada, after considering the motion and the assurances given, decided to set aside the bench warrant.
“In view of the attendance of the second defendant in court today and the undertaken signed by the learned silk to ensure his attendance in future proceedings, the bench warrant is hereby revoked,” she stated.
The Fraud Charges
Kuru, alongside other defendants, faces several allegations of fraud and criminal misconduct related to Arik Air Ltd. The Economic and Financial Crimes Commission (EFCC) claims that Kuru and his co-defendants misappropriated funds belonging to Arik Airline.
The EFCC accuses Kuru of facilitating fraudulent transactions in 2011, which allegedly led to the unwarranted sale of Arik Air’s loans and bank guarantees. The agency claims that these actions caused a transfer of N71 billion to AMCON.
Further allegations involve Kuru, Arik’s former Receiver Manager Kamilu Omokide, and CEO Captain Roy Ilegbodu. The EFCC claims that in 2022, the group fraudulently converted N4.9 billion for their benefit, using the funds for their own company, NG Eagle Ltd.
In addition to these claims, Kuru and his associates are accused of stealing N22.5 million, property of Arik Air, and misusing it for the benefit of an individual named Magashi Ali Mohammed. They are also charged with authorizing the destruction of an Arik aircraft, the 5N-JEA, valued at $31.5 million, in what prosecutors argue was an arbitrary act that harmed the airline’s financial health.
The alleged crimes are said to violate several provisions of the Lagos State Criminal Law, including sections related to abuse of office, theft, and fraudulent property conversion.
The Legal Process and the Role of Defense
The court’s ruling followed a calm exchange between the prosecution and defense. EFCC counsel, Dr. Wahab Shittu (SAN), did not object to the motion filed by Kuru’s lawyer. Shittu indicated that as long as Kuru’s legal team had provided assurances and signed the necessary undertakings, the prosecution would not oppose the revocation of the bench warrant.
“We are satisfied with the learned silk’s assurance that the second defendant will be present for his arraignment,” Shittu said in court. “We do not object to the application to revoke the bench warrant at this time.”
Despite the resolution of the bench warrant issue, the fraud case is far from over. The court has scheduled the next hearing for January 20, 2025, when Kuru and his co-defendants will be formally arraigned before the judge.
The Broader Implications of the Case
The case has attracted significant attention due to the high-profile nature of the individuals involved. Ahmed Kuru, as the former head of AMCON, held a significant role in overseeing the management of distressed assets, including Arik Air, which was taken over by AMCON due to financial difficulties.
The charges against Kuru highlight ongoing concerns about corruption and mismanagement within state-owned enterprises in Nigeria. AMCON itself has been a focal point in the government’s efforts to manage non-performing loans and to stabilize struggling businesses.
The case against Kuru is seen as an important test for the country’s anti-corruption fight, particularly in relation to the aviation sector. Arik Air, once one of the leading airlines in Nigeria, has been plagued by financial difficulties, and the alleged fraud outlined in the EFCC charges could further complicate the airline’s recovery.
The Road Ahead
As Kuru’s trial moves forward, the Nigerian public will be watching closely to see if justice is served. The lifting of the bench warrant does not absolve the former AMCON MD of the serious allegations against him.
With the arraignment scheduled for January 2025, both the prosecution and defense teams will have an opportunity to present their cases. Kuru’s defense lawyer has pledged to ensure that his client will appear at the next session, and the outcome of this high-stakes trial could have far-reaching consequences for the individuals involved as well as for Nigeria’s broader fight against corruption.
