The Lagos State Special Offences Court, Ikeja, presided over by Justice Mojisola Dada, yesterday, vacated a bench warrant issued for the arrest of Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), over his absence at an earlier arraignment in a ₦76 billion fraud case.

Justice Dada set aside the arrest warrant after considering submissions from Kuru’s counsel, Olasupo Shasore (SAN), who tendered an apology on behalf of his client.

Shasore (SAN) equally provided assurances that Kuru would be available for his arraignment on January 20, 2025.

In handing down her ruling, Justice Dada held that “In view of the attendance of the second defendant in court and the undertaking signed by the learned silk to ensure his attendance in court at any given time, and with no objection from the prosecution, the application of motion on notice is hereby granted, and the bench warrant is set aside.”

It would be recalled that the Economic and Financial Crimes Commission (EFCC), had instituted a six-count charge against Ahmed Kuru, alongside the Managing Director of Arik Air, Captain Roy Ilegbodu; Arik’s receiver manager, Kamilu Omokide; an old generation financial institution; and a company, Super Bravo Limited.

The charges include allegations of abuse of office, fraudulent conversion, and making false statements to a public officer.

The matter came from accusations of a ₦76 billion fraud, along with a related $31.5 million fraud involving the defendants.

The arraignment was initially stalled on December 3 when Kuru failed to appear in court, prompting the EFCC to request a bench warrant for his arrest.

The agency claimed Kuru had breached the terms of the administrative bail previously granted to him and could not be reached.

While the other defendants appeared in court, Kuru’s absence delayed proceedings.

The anti-graft agency accused Kuru and his co-defendants of engaging in financial misconduct involving billions of naira.