Further cross-examination of a former Executive Director, Asset Management Corporation of Nigeria, AMCON, Mr. Abbas Muhammed Jega continued on Tuesday when the Prosecution Witness, PW3, told the court that he was not one of the signatories to the Loan Purchase Agreement between Union Bank of Nigeria and Arik Air.
The witness stated this before Justice Mojisola Dada of the Special Offences Court, Ikeja during the ongoing case of the former AMCON Managing Director/CEO, Ahmed Kuru.
Kuru is being prosecuted by EFCC alongside Mr Kamilu Omokide, a former receiver manager of Arik Air Limited; Captain Roy Ilegbodu, Arik Air Chief Executive Officer; Union Bank Limited; and Super Bravo Limited.
The Economic and Financial Crimes Commission, EFCC, charged the defendants to court for allegedly defrauding Arik Air of N76 billion and $31.5 million.
The defendants are charged to court on a six-count charge bordering on conspiracy, stealing, and abuse of office.
According to Jega, “I doubt if my colleagues could have signed this agreement,” when the fourth Defence Counsel, Olalekan Ojo (SAN) questioned the authenticity of the signatures on the agreement.
Jega hinted that the two individuals said to have signed the document were professionals of the highest standard.
“Therefore, I disagree that they signed the agreement the way it’s shown to me,” he said.
Jega highlighted some irregularities in the pagination stating that the document began with page 8.
The counsel cautioned Jega and urged him to confirm that each page of the agreement was duly certified by AMCON.
The prosecution witness also told the court that his extra-judicial statement dated June 19, 2023, was based on questions posed by operatives of the EFCC and his knowledge of the matter.
Union Bank convenes London meeting
Jega explained that a meeting was held in London on February 4, 2011, with foreign lenders at the instance of Union Bank and stated that AMCON was invited though.
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 replied, “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 EFCC Prosecution Counsel, Dr. Wahab Shittu at the continuation of trial complained about media report of previous proceeding.
Justice Dada advised the counsel to concentrate on prosecution of the ongoing case and not be distracted by media publication.
Justice Dada adjourned till October 15 and 17, 2025 for continuation of trial.
