The courtroom buzzed with anticipation as the former Managing Director of Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four others stood accused of defrauding Arik Airline to the tune of N76 billion and $31.5 million. The charges brought by the Economic and Financial Crimes Commission (EFCC) painted a picture of theft, abuse of office, and stealing on a grand scale.
The Accusations
Count one alleged that Union Bank Nigeria Plc made false statements to AMCON regarding Arik Air loans, leading to the transfer of a staggering N71 billion to AMCON. Meanwhile, count two accused key figures like Ahmed Lawal Kuru and Kamilu Alaba Omokide of fraudulently converting nearly N5 billion meant for Arik Air’s use.
Public Officers in Question
One particularly shocking accusation detailed an arbitrary act where public officers directed the destruction of an aircraft valued at $31.5 million, which was deemed prejudicial to both the economic stability of Nigeria and Arik Air Limited.
As emotions ran high in court, pleas of not guilty rang out from all defendants when confronted with the six-count charge sheet meticulously prepared by EFCC prosecutors.
Bail Application Drama
In a twist worthy of a legal drama series, counsels sparred over bail applications. Prof Taiwo Osipitan passionately argued for liberal terms for his clients, highlighting their clean records and cooperation with authorities during investigations.
However, EFCC counsel Wahab Shittu raised concerns about potential flight risks posed by the accused parties given the gravity of their alleged offenses. He pushed for stringent conditions if bail were to be granted—international passports seizure being top on his list.
Judicial Decision
After weighing arguments from both sides, Justice Mojisola Dada granted bail to each defendant at N20 million each. The condition included securing two sureties in equal sums who must be employed and able to provide valid identification documents. Additionally, international passport submission was mandated to ensure defendants’ attendance during trial proceedings.
With a trial start date set for March 17th looming ahead, tensions remained palpable both inside and outside the courtroom as this high-profile case continued its march through the Nigerian legal system.
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