The third prosecution witness, PW3, Abbas Jega, a former Executive Director of the Asset Management Corporation of Nigeria (AMCON), on Tuesday told the court that he was not among the signatories to the Loan Purchase Agreement between Union Bank of Nigeria and Arik Air.
He made this disclosure while testifying before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, 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.
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.
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 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 matter was adjourned till October 15 and 17 for continuation of trial.
