Alleged N76bn, $31.5m fraud: Court Adjourns Ex-AMCON MD, Kuru, Others’ Trial Till June 4

Kuru

By JUMOKE SANNI

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Wednesday, May 28, 2025, adjourned till June 4, 2025 further hearing in the trial of Mallam Ahmed Kuru, a former Managing Director of Assets Management Corporation of Nigeria, AMCON, and four others, over alleged N76bn and $31.5m fraud.

Kuru , alongside Capt. Roy Ilegbodu, Managing Director of Arik Air, Kamilu Omokide, Receiver Manager of Arik Air, Union Bank Nigeria Plc and Super Bravo Limited is facing trial on a six-count charge bordering on conspiracy, stealing, and abuse of office to the tune of N75bn and $31.5m fraud.

At the resumed sitting on Wednesday , the second prosecution witness , PW2, Austine Obigwe, a former Group Executive Director of Union Bank Plc, stated that in 2011, two years after he exited Union Bank, Arik Air was indebted to his company, Staal, to the tune of $2.3m.

He, however, said: “I am not interested in collecting it. I wrote it off when I discovered that Arik Air started having challenges.”

During cross-examination by the defence counsel, including Olasupo Shasore, SAN (for the second defendant); Olalekan Ojo, SAN (for the fourth defendant); and Tayo Oyedepo, SAN (for the fifth defendant), the PW2 also confirmed that following his exit from Union Bank, he began consultancy engagements with Arik Air and other companies.

When asked whether the founder of Arik Air, Johnson Arumemi-Ikhide, was a personal acquaintance, he responded in the affirmative.