From Sola Ojo, Abuja
The third prosecution witness, PW3, Abbas Jega, a former Executive Director of the Asset Management Corporation of Nigeria (AMCON), in the ongoing trial of Mallam Ahmed Kuru, a former Managing Director of AMCON, and four others over an alleged N76 billion and $31.5 million fraud, yesterday told Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, that he was not among the signatories to the loan purchase agreement between Union Bank of Nigeria and Arik Air.
Kuru, alongside Capt. Roy Ilegbodu, Managing Director of Arik Air; Kamilu Omokide, Receiver Manager of Arik Air; Union Bank of Nigeria Plc; and Super Bravo Limited, is standing trial on a six-count charge bordering on conspiracy, stealing, and abuse of office involving N75 billion and $31.5 million.
Under cross-examination by Olalekan Ojo, SAN, counsel to the fourth defendant, Jega questioned the authenticity of the signatures on the agreement.
He noted that the two individuals said to have signed the document were professionals of the highest standards.
“Therefore, I disagree that they signed the agreement the way it’s shown to me,” he said.
Jega also pointed out irregularities in the pagination, noting that the document began with page 8.
“I doubt if my colleagues could have signed this agreement,” he said.
However, Ojo cautioned the witness and urged him to confirm that each page of the agreement was duly certified by AMCON.
Jega further told the court that his extra-judicial statement dated June 19, 2023, was based on questions posed by operatives of the Economic and Financial Crimes Commission (EFCC) and his knowledge of the matter.
Regarding a meeting held in London on February 4, 2011, with foreign lenders, Jega explained that it was convened at the instance of Union Bank, and AMCON was merely invited.
When asked whether the purpose of the London meeting was to inform foreign lenders that AMCON had taken over the guarantee of Arik Air’s loan, Jega responded that Union Bank representatives did not disclose that information at the meeting.
Asked further if AMCON representatives disclosed at the meeting that they had taken over the loan, Jega replied, “We did not.”
When questioned on whether he ever returned to the EFCC to make an additional statement, he said: My Lord, there was no need to do that in respect of the Arik Air loan,” insisting that what was purchased by AMCON was the guarantee and the indemnity.
The judge adjourned the matter till October 15 and 17 for continuation of trial.
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