The Lagos State Special Offences Court in Ikeja has postponed the trial of former AMCON Managing Director, Ahmed Kuru, and four others to March 19, following the testimony of the first prosecution witness.
The defendants are facing charges of financial misappropriation involving N76 billion and $31.5 million linked to Arik Air.
Justice Mojisola Dada adjourned the trial after hearing testimony from the first prosecution witness, Peter Omokaro, a former assistant general manager of Union Bank Plc. The EFCC, which brought the charges, alleges that the defendants engaged in theft, abuse of office, and dishonest conversion of funds.
The other defendants in the case include Kamilu Omokide, a former receiver manager of Arik Air; Captain Roy Ilegbodu, the airline’s CEO; Union Bank Ltd; and Super Bravo Ltd. They all pleaded not guilty and were granted bail set at N20 million each, with a surety in like sum.
During Monday’s hearing, the prosecution, led by Dr. Wahab Shittu , called Omokaro to testify. Omokaro explained that Union Bank’s role in the matter was limited to guaranteeing financial facilities Arik Air secured from HSBC and the US EXIM Bank for aircraft purchases from Airbus and Boeing. He stressed that Union Bank did not disburse any cash to Arik Air.
He further disclosed that AMCON became involved in the transaction in 2009 after the Central Bank of Nigeria intervened in Union Bank’s operations. By early 2011, Union Bank sold its guarantee to AMCON, leading to a meeting between Union Bank, AMCON, HSBC, and US EXIM Bank in London—without Arik Air’s participation.
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Omokaro emphasised that Union Bank did not issue any loan to Arik Air but instead converted its guarantee into cash, which AMCON then paid. He maintained that at no point did the bank provide direct funds for the acquisition of the aircraft.
The prosecution sought to admit five documents relating to the transaction as evidence, which the court accepted. These documents are expected to play a significant role in establishing the case against the defendants.
During cross-examination, Professor Taiwo Osipitan, counsel for the first and third defendants, asked Omokaro whether his clients attended the London meeting. Omokaro confirmed they were not present. He also stated that while Union Bank had a marketing relationship with Arik Air, he had no direct knowledge of the airline’s internal operations.
Further questioning by Olasupo Shasore, Kuru’s lawyer, focused on the timing of the transaction. Omokaro acknowledged that the deal occurred in 2010, before Kuru assumed office as AMCON’s managing director. He also confirmed that the third defendant had not yet taken his position at the time.
The trial took another turn when Union Bank’s lawyer, Olalekan Ojo, questioned Omokaro about his past legal dispute with the bank. Omokaro admitted that he sued Union Bank in 2011 after his employment was terminated. Ojo then submitted a statement Omokaro made during the investigation as part of the court’s records.
With this testimony concluded, Justice Dada adjourned the case to March 19, for further proceedings. The trial is expected to continue with additional witness testimonies and document reviews as the court examines the allegations against Kuru and his co-defendants.
Crediblenewsng.com
