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Ahmed Kuru’s ₦76 Billion Fraud Trial Postponed Amid Public Outcry for Justice
The Special Offences Court in Ikeja, Lagos State, has adjourned the trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, to June 4, 2025....KINDLY READ THE FULL STORY HERE▶
Kuru, named as the second defendant, appeared in court on January 20 alongside Roy Ilegbodu, Managing Director of Arik Air (third defendant); Kamilu Omokide, Receiver Manager of Arik Air (first defendant); Union Bank Plc (fourth defendant); and Super Bravo Limited (fifth defendant).
The defendants are being prosecuted for allegedly defrauding Arik Air, which is under receivership, of ₦76 billion and $31.5 million.
At the resumed hearing on Wednesday, May 28, a former Group Executive Director at Union Bank Plc, Austine Obigwe, testified that he had written off a $2.3 million debt owed by Arik Air to his private company, Staal.
Obigwe, a prosecution witness for the Economic and Financial Crimes Commission (EFCC), had earlier testified that Arik Air was financially sound when he left Union Bank in 2009. However, during cross-examination, he admitted that the airline was “irresponsible, poorly managed, and unethical,” and that the $2.3 million debt to his company, which originated in 2011—two years after his exit from the bank—was never repaid.
He explained that he forgave the debt due to the airline’s operational difficulties and his personal relationship with Arik Air’s promoter, Johnson Arumemi-Ikhide, whom he described as a fellow church member and acquaintance.
“I’m no longer interested in recovering the money. I wrote it off when I realized Arik Air was experiencing difficulties,” Obigwe told the court.
Speaking on the airline’s fleet, Obigwe said he participated in an inspection of 26 aircraft in 2009 and confirmed that Lufthansa had certified them as airworthy. He added that he had no reason to doubt that assessment.
When asked whether Arik was defaulting on its loan obligations, Obigwe maintained that during his time at Union Bank, there were no indications that the airline was failing to repay its loans—either to Union Bank or other financial institutions.
When shown a letter dated April 23, 2009, reportedly from AMCON and citing a ₦46.11 billion debt owed by Arik, Obigwe claimed he was unaware of such correspondence, despite being the Union Bank executive overseeing Arik’s transactions at the time.
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“They Didn’t Even Want To See Me” — Atiku Opens Up On PDP Coalition Snub.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
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Atiku Opens Up On ADC 2027 Game Plan, Says Consensus Candidate Comes First.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
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2027: I Stand A Better Chance To Win Presidency Than Anyone Else – Atiku.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
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