Alleged ₦76bn Fraud: Court vacates arrest warrant against ex-AMCON boss

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The Special Offences Court in Ikeja, Lagos, has revoked the bench warrant previously issued against Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), over his absence during arraignment on an alleged ₦76 billion fraud case.

Justice Mojisola Dada rescinded the warrant following the submissions and apology presented by Kuru’s counsel, Olasupo Shasore (SAN).

In a short ruling, the judge said, “Given the attendance of the second defendant in court and the undertaken signed by the learned silk to ensure his attendance in court at any given time and with no objection from the prosecution, the second defendant’s application of motion on notice is hereby granted and the bench warrant set aside.”

The court subsequently adjourned the case until January 20, 2025, for the arraignment of the defendants.

Before the ruling, Shasore, in his application dated Dec. 12, had made an undertaken and assured the court that he would produce his client for arraignment on Jan. 20, 2025. He also said he would make sure that Kuru attends his trial.

Counsel to the Economic and Financial Crimes Commission (EFCC), Wahab Shittu (SAN), said he had no objections to the application.

“My lord, if the learned silk is assuring the court that the second defendant will be available on January 20 for his arraignment, we will not be objecting to the application.

“We could not contact him the way others were contacted and now that his counsel has signed an undertaken that he will produce him, knowing the consequences of the undertaken, the prosecution will not be objecting to the court revoking the bench warrant against the second defendant,” Shittu said.

On December 3rd, the court issued a bench warrant for the arrest of former AMCON Managing Director Ahmed Kuru due to his absence during his scheduled arraignment.

Justice Mojisola Dada granted the warrant at the request of the Economic and Financial Crimes Commission (EFCC). EFCC counsel Wahab Shittu informed the court that Kuru had violated the administrative bail previously granted by the anti-graft agency and could not be located, prompting a request for his arrest.

Kuru was set to be arraigned alongside Arik Air Managing Director Captain Roy Ilegbodu, Arik’s receiver manager Kamilu Omokide, Union Bank Plc, and a company, Super Bravo Limited, over allegations of ₦76 billion and $31.5 million fraud.

The EFCC had filed a six-count charge against the defendants, including abuse of office, fraudulent conversion, and making false statements to a public officer. However, Kuru’s absence stalled the arraignment of the other defendants, who were present in court.