The Economic and Financial Crimes Commission (EFCC) has presented its first prosecution witness, Peter Omokaro, in the trial of former AMCON Managing Director Ahmed Kuru and four others over an alleged ₦76 billion and $31.5 million fraud linked to Arik Air.
ENigeria News reports at the hearing on Monday, March 17, 2025, before Justice Mojisola Dada of the Special Offences Court, Lagos, Omokaro, a former Union Bank AGM, testified that the bank only guaranteed Arik Air’s aircraft purchase from foreign lenders and did not disburse cash. He claimed Union Bank mistakenly transferred a $71 billion loan to AMCON and later attempted to rectify the error in a 2011 London meeting.
The defendants, including former Arik Receiver Manager Kamilu Omokide, CEO Roy Ilegbodu, Super Bravo Ltd., and Union Bank Plc, pleaded not guilty to the six-count charges of theft and abuse of office.
Omokaro confirmed under cross-examination that some defendants were not involved in the initial transaction. Justice Dada adjourned the trial to March 19, 2025.
