AMCON EX-DIRECTOR DENIES SIGNING ARIK AIR LOAN AGREEMENT, ALLEGES IRREGULARITIES IN DOCUMENT

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By Aishat Momoh. O.

A former Executive Director of the Asset Management Corporation of Nigeria (AMCON), Abbas Jega, on Tuesday told a Lagos court that he did not sign the Loan Purchase Agreement between Union Bank of Nigeria and Arik Air, raising concerns over the authenticity of the document.

Jega, testifying as the third prosecution witness (PW3) before Justice Mojisola Dada of the Special Offences Court in Ikeja, made the revelation during cross-examination in the ongoing trial of former AMCON Managing Director, Ahmed Kuru, and four others over alleged N76 billion and $31.5 million fraud.

The defendants Kuru; Capt. Roy Ilegbodu, Managing Director of Arik Air; Kamilu Omokide, Receiver Manager of Arik Air; Union Bank of Nigeria Plc; and Super Bravo Limited are facing a six-count charge bordering on conspiracy, stealing, and abuse of office.

While being cross-examined by Olalekan Ojo (SAN), counsel to the fourth defendant, Jega expressed doubts about the legitimacy of the signatures on the agreement.

“I disagree that they signed the agreement the way it’s shown to me,” he stated, referencing two highly regarded professionals whose signatures appeared on the document.

Jega also flagged inconsistencies in the document’s pagination, noting that it curiously began on page 8. “I doubt if my colleagues could have signed this agreement,” he reiterated.

Ojo (SAN), however, urged the witness to confirm that all pages of the agreement bore AMCON’s certification.

Jega explained that his extra-judicial statement to the Economic and Financial Crimes Commission (EFCC), dated June 19, 2023, was based on his knowledge of the transaction and questions from investigators.

On a related matter, he recounted a February 4, 2011 meeting in London involving foreign lenders, stating that AMCON attended only at the invitation of Union Bank. He denied that AMCON or Union Bank informed lenders during the meeting that AMCON had assumed responsibility for Arik’s loan.

He insisted that AMCON’s acquisition only covered the loan’s guarantee and indemnity, not the full loan itself.

The court adjourned the matter to October 15 and 17 for continuation of trial.