Former AMCON MD, Ahmed Kuru, On Trial For N125 Billion Fraud

By Ayinde Adeleke

The Economic and Financial Crimes Commission (EFCC) has filed six-count criminal charges against Ahmed Lawal Kuru, former Managing Director of the Assets Management Cooperation of Nigeria (AMCON), and others for their alleged involvement in the mismanagement of funds belonging to Arik Air Limited, totaling N125 billion.

The charges, which include criminal conspiracy, stealing, false information, and abuse of office, were filed at the Ikeja Judicial Division of the Lagos State High Court on October 29, 2024.

Kuru, along with Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited, are accused of various offenses, including making false statements to public officers and fraudulent conversion of property.

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According to the charges, Kuru and others inherited 19 aircraft from Arik Air but only three are left.

A source familiar with the trial stated, “Regarding the charges against Kuru on Arik Air, it involves the mismanagement of N125 billion. He and others inherited 19 aircraft from Arik Air but only 3 are left.”

The EFCC accused Kuru and others of abusing their offices and intentionally authorizing the destruction of a $31.5 million aircraft, among other offenses.

The case has been adjourned until January 20, 2025, for arraignment.