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EFCC arraigns Ex AMCON MD, Ahmed Kuru, four others in Lagos over alleged N76bn, $31.5m fraud

The Eyewitness Reporter 

The Economic and Financial Crimes Commission (EFCC) on Monday, 20 January, 2025 arraigned a former Managing Director of Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru and four others for allegedly defrauding Arik Airline N76 billion and $31.5 million, respectively.

Other defendants are former Receiver Manager of Arik Airline Ltd, Kamilu Omokide, Chief Executive Officer of the airline, Captain Roy Ilegbodu, and Super Bravo Ltd and Union Bank PLC.

The defendants were arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on a six-count charge bordering on theft, abuse of office and stealing by dishonestly taking the property of another.

The defendants, however, pleaded not guilty to all the six-count charges when they were read to them.

Count one reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71,000,000,000.00 (Seventy-One Billion Naira) to AMCON.”

Count two reads: “That you, Ahmed Lawal Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4,900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited”.

Count five reads: “That you, Kamilu Alaba Omokide, Ahmed Lawal Kuru and Capt. Roy Ilegbodu, on the 12th day of February, 2022 or thereabout, in Lagos, within the jurisdiction of this Honourable Court, being public officers, directed to be done in abuse of the authority of your office and with intention of obtaining undue advantage for yourself and cronies an arbitrary act, to wit: intentionally authorizing the tear down and destruction of 5N-JEA with Serial No. 15058 valued at $31.5million (Thirty One Million, Five Hundred Thousand Dollars), an arbitrary act, which act is prejudicial to the economic stability of the Federal Republic of Nigeria and Arik Air Limited”.

The counsel to the first and third defendants, Prof Taiwo Osipitan, SAN, informed the court of a motion for bail application dated November 28, 2024 and November 29, 2024 for the two defendants.

Osipitan prayed the court that the defendants be granted bail on liberal terms.

  According to him, the first defendant had no criminal records and that the EFCC granted him administration bail  which he didn’t jump.

“We pray the court grants bail to the two defendants on the same liberal terms given to them by EFCC,” he said.

EFCC Counsel, Wahab Shittu SAN, filed counter-affidavits dated December 2, 2024 against the first defendant and also another counter affidavits dated December 22, 2024 against the third defendant.

Shittu prayed the court to dismiss their bail applications.

According to him, the two defendants are facing serious offences of economic sabotage.

However, he agreed with the second and third defence counsel that they are presumed innocent pending the determination of the court.

Shittu , however, added that the temptation of the defendants leaving the country was very high.

He thereafter prayed that accelerated hearing be granted and the defendants’ international passports be seized by the court.

“But if my lord decides to be magnanimous to grant them bail, we shall be praying for stringent conditions because we are particular about their attendance in court.

“We urge that they should submit their international passports with the court in order to ensure that they come for trial,” he said.

The counsel to the second defendant, Olasupo Shasore, SAN in his motion for bail dated December 6, 2024 and filed on the same day, urged the court to also grant bail to his client on self recognition.

The prosecuting counsel in his counter affidavits dated January 17, 2025, opposed the bail application of the second defendant.

He said the application for bail was incompetent and should be struck out.

 Shittu cited relevance laws to buttress his argument.

 “My lord, the record of this court is to the effect that the second defendant, at one point, absconded in which your lordship had to issue a bench warrant.

 “The learned silk for the second defendant is not the defendant on trial and it is very unhealthy for a counsel to stand as a surety for a defendant.

“I urge my lord, in exercising his discretion, to take all this into consideration because our concern is the appearance of the second defendant in court so that he does not abscond.”

After listening to the arguments from all the parties, Justice Dada granted bail to the defendants in the sum of N20 million Naira each with two sureties in like sum.

The sureties must be gainfully employed and deposed to means of identification.

She also directed that the defendants must submit their international passports with the registrar of the court.

Justice Dada adjourned the matter till March 17, 18, and 19, 2025 for commencement of trial.

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NPA records strong Q2 performance as cargo, container traffic rise

Gloria Odion, Maritime Reporter

The Federal Government’s ongoing reforms in the maritime sector are beginning to yield measurable results, with the Nigerian Ports Authority (NPA) recording significant growth in cargo throughput, vessel traffic, container movements and vehicle traffic in the second quarter (Q2) of 2026.

The development is contained in the NPA’s Operational Performance Report for Q2 2026, which showed an overall improvement in activities across the nation’s seaports.

Analysis of the report indicated that most key performance indicators recorded positive growth during the quarter, reflecting increased vessel calls, cargo volumes, container traffic and port utilisation.

Commenting on the performance, the Managing Director of the NPA, Dr Abubakar Dantsoho, said the increase in cargo volumes and ship calls underscored the resilience of Nigerian ports and their growing capacity to facilitate trade and enhance competitiveness.

Cargo throughput rose by 12.3 per cent, from 31,825,592 metric tonnes recorded in Q2 2025 to 35,740,362 metric tonnes in Q2 2026.

By trade type, inward cargo accounted for 56.8 per cent of total cargo handled, while outward cargo represented 41.9 per cent.

Transshipment cargo contributed 488,364 metric tonnes, representing approximately 1.4 per cent of total throughput.

The report showed that inward cargo increased by 7.7 per cent, while outward cargo grew by 22 per cent, indicating a significant improvement in export activity during the period under review. There was also a substantial increase in ocean-going vessel traffic.

The number of ocean-going vessels completed rose from 1,050 in Q2 2025 to 1,201 in Q2 2026, representing a 14.4 per cent increase.
Similarly, the Gross Registered Tonnage (GRT) of ocean-going vessels increased by 22.2 per cent, from 40.87 million tonnes to 49.95 million tonnes.

Service boat operations also recorded strong growth during the quarter. The number of service boats completed increased by 22.3 per cent, from 3,554 to 4,347, while the associated GRT climbed by 62.4 per cent, from 1.06 million tonnes to 1.73 million tonnes.

Container traffic also maintained its upward trajectory, increasing by 11.3 per cent from 541,229 TEUs in Q2 2025 to 602,392 TEUs in Q2 2026.

According to the report, inward laden containers increased by 6.3 per cent and accounted for approximately 51.5 per cent of total container traffic.

Outward laden containers, however, declined marginally by 3.9 per cent, while empty container traffic increased by 13.9 per cent compared with the corresponding period of 2025.

Of particular significance was the emergence of transshipment container traffic, which stood at 29,038 TEUs during the quarter, compared with no recorded movement in Q2 2025.

The NPA said the development reflected the growing importance of transshipment operations within the Nigerian port system.

Vehicle traffic also recorded significant growth, with 44,147 units handled in Q2 2026 compared with 37,306 units in Q2 2025, representing an 18.3 per cent increase.

The report attributed the increase largely to improved automobile import activities and greater stability in the foreign exchange market.

The NPA identified the continued expansion of transshipment traffic as one of the major developments during the quarter, noting that its growth could strengthen Nigeria’s position as a regional maritime hub.

“The emergence and continued growth of transshipment traffic continues to position Nigerian ports as an emerging regional transshipment hub,” the report stated.

It added that the completion of ongoing port modernisation projects, sustained investment in infrastructure and deeper commercial engagement with shipping lines would further enhance Nigeria’s prospects in the transshipment market.

Overall, the authority described the second quarter performance as encouraging, with positive growth recorded across most major operational indicators, particularly cargo throughput, ship traffic, container movements, vehicle traffic and berth utilisation.

“The Second Quarter of 2026 recorded encouraging operational performance across the Nigerian ports, with sustained growth in ship traffic, cargo throughput, container movements, vehicle traffic, and berth utilisation,” the report stated.

Dantsoho said the NPA’s core priority for 2026 was a massive infrastructure overhaul, complemented by digital reforms and improvements in operational efficiency.

According to him, stakeholders should expect visible progress on the ground, beginning with the groundbreaking of major port modernisation projects.

He identified the modernisation of the Apapa and Tin Can Island ports as the centrepiece of the authority’s infrastructure programme, noting that both facilities had become outdated, with Apapa approaching a century in operation and Tin Can Island more than 50 years old.

He added that the NPA was supporting the development of the Lekki and Badagry deep-sea ports to accommodate larger vessels, while efforts were also being intensified to revitalise the Eastern Ports and reduce the pressure on Lagos.

On digital transformation, Dantsoho said the authority was prioritising the full implementation of the Port Community System (PCS) to streamline port operations and eliminate manual bottlenecks.

The PCS, he said, would complement the National Single Window (NSW), which became operational in the first quarter of 2026, creating a more integrated digital trade ecosystem.

He further said the NPA was deploying technology-driven security measures to support 24-hour port operations while strengthening collaboration with customs agents and other stakeholders to tackle congestion and improve cargo evacuation.

With these measures, the NPA is positioning Nigeria to become a major trade and logistics hub in West Africa.

The expected outcomes, Dantsoho said, include faster port operations, lower logistics costs, increased trade volumes and improved competitiveness for Nigerian exports.

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The Lekki model: Re-engineering Nigeria’s port ecosystem via digital automation

Monday Discourse with Nasiru Ibrahim 

Nigeria’s maritime sector has reached a critical turning point where manual clearing systems can no longer support our economic growth.

For decades, our ports have been choked by slow paper trails, physical examinations, and long human queues.

These bottlenecks do not just delay cargoes; they cost businesses billions of Naira in daily demurrage and drive inflation across the country.

As we enter a new economic era, the launch of the National Single Window initiative represents our best chance to modernise.

To truly understand how this transformation works, we must look at the blueprint already operating successfully at the Lekki Deep Sea Port.

The success of the Lekki model relies entirely on one core engine: digital automation.

Unlike older ports that were built around manual handovers, Lekki was designed from the ground up to be a paperless ecosystem.

By automating the entire cargo journey from vessel berthing to gate clearance, it has shown that technology can eliminate human error and bureaucratic corruption.

The integration of high-speed container scanners, automated gate systems, and digital manifest processing has slashed vessel turnaround times from several days to just a few hours.

This is the practical standard that the National Single Window aims to scale across all Nigerian Ports.

The most visible impact of this digital shift is the removal of human contact in the clearing chain.

When clearing agents, customs officials, and terminal operators interact face-to-face over physical paperwork, delays and extortion become inevitable.

Lekki’s digital automation bypasses this vulnerability completely. It allows shipping lines and clearing agents to upload documents, track clearances, and make payments online from any location.

This transparent system ensures that every cargo movement is logged in real time. It removes the arbitrary delays that have frustrated Nigerian importers for generations.

Furthermore, digital automation has transformed port logistics beyond the waterfront.

In traditional ports, thousands of trucks queue along access roads for weeks, causing severe gridlock because they lack real-time scheduling information.

Lekki fixes this by using an automated truck call-up system that is linked directly to terminal operations.

Trucks are only allowed to approach the port when their containers are cleared and ready for pickup.

This smooth coordination keeps the access corridors free of traffic, cuts down transport costs, and proves that port efficiency requires a digital bridge between the sea and the land.

However, the real power of the Lekki model will only be unlocked when it is fully integrated into the National Single Window network.

While Lekki operates as an efficient digital island, the National Single Window will connect it directly with the central systems of the Nigeria Customs Service, the Nigerian Ports Authority, and key regulatory agencies like NAFDAC and SON.

This total alignment means a single digital entry will clear goods across all agencies at the same time.

It will turn Nigeria from a high-cost maritime destination into West Africa’s leading shipping hub.

We can no longer afford to run a twenty-first-century economy with twentieth-century Port procedures.

The Lekki model proves that digital automation is not a futuristic luxury; it is an urgent economic necessity.

By adopting this automated framework for the National Single Window, Nigeria can finally eliminate port delays, protect government revenue, and give our businesses the fast, transparent, and world-class trade environment they deserve.

Chief Ibrahim Nasiru,a public affairs analyst, writes from Abuja

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Oyetola chides NIMASA over slow pace of CVFF disbursement process

— as only one of 20 applications forwarded to PLIs awaits final approval

Funso OLOJO, Editor

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has expressed displeasure over the slow pace of processing applications for the disbursement of the long-awaited Cabotage Vessel Financing Fund (CVFF).

Oyetola consequently directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to urgently accelerate the process and ensure that indigenous shipowners, who have waited for more than two decades to access the fund, are not subjected to another round of bureaucratic delays.

The Minister’s concern was heightened by the revelation that, since the CVFF application portal was launched in January 2026, only 20 of the 92 applications received by NIMASA had been processed and forwarded to the Primary Lending Institutions (PLIs) for further assessment.

More troubling, according to the Minister, is that only one of the 20 applications forwarded to the PLIs has so far been returned to NIMASA for final approval.

Oyetola, apparently dissatisfied with the snail-paced progress, chided NIMASA and directed the agency to work more closely with the 12 PLIs to fast-track the process and ensure that indigenous shipowners get access to the much-needed financing to strengthen and expand their operations.

The Minister said the directive underscored the Federal Government’s determination to end the more than two decades of delays surrounding the CVFF and unlock a new era of investment, growth and employment in Nigeria’s maritime sector.

The push for the operationalisation of the CVFF marks a major step in the Federal Government’s efforts to deepen indigenous participation in Nigeria’s maritime industry and build the capacity of local shipowners to compete more effectively in the coastal and offshore shipping markets.

In April 2025, Oyetola directed NIMASA to commence the process for the long-awaited disbursement of the fund, signalling what was expected to be a decisive break from years of administrative stagnation and a new effort to reposition Nigeria’s indigenous shipping capacity.

The process gained further momentum with the launch of the CVFF Application Portal in Lagos on January 22, 2026.

The portal was designed to provide a more transparent and structured mechanism through which eligible Nigerian shipowners could apply for financing, while helping to institutionalise access to maritime finance.

As part of efforts to speed up the disbursement process, Oyetola also expanded the number of PLIs from five to 12.

The CVFF, which has accumulated for more than two decades without being accessed by Nigerian shipowners, is expected to provide low-interest, long-term financing for the acquisition of modern vessels and the expansion and renewal of indigenous fleets.

The initiative is also expected to enhance the capacity of Nigerian shipowners to compete for lucrative coastal and offshore contracts, reduce the country’s dependence on foreign vessel operators and retain a greater share of maritime earnings within the Nigerian economy.

Oyetola said the fund has the potential to generate more than 30,000 direct and indirect jobs across shipyards, marine engineering firms, maritime logistics companies and other segments of the maritime value chain.

He said the initiative would also strengthen Nigeria’s domestic ship-owning and shipbuilding ecosystem by improving access to long-term capital for indigenous operators.

According to the Minister, the Federal Government’s decision to commence the disbursement of the CVFF followed President Bola Ahmed Tinubu’s authorisation to address the long-standing financing challenges confronting domestic maritime operators and unlock the economic potential of the blue economy.

Seafarers development

Beyond vessel financing, Oyetola said the Federal Government was also investing heavily in the development of Nigerian seafarers through expanded training, certification and welfare initiatives being implemented by the Ministry and NIMASA.

He disclosed that 222 seafarers had been trained free of charge in basic and advanced professional courses, while 333 cadets had completed their academic training and obtained degrees.

Under the Nigerian Seafarers Development Programme (NSDP), he said 135 cadets had successfully completed the programme and obtained their Certificates of Competency (CoC).

The Minister further disclosed that 7,059 Nigerian seafarers had been placed onboard vessels to acquire the mandatory sea-time experience required for professional advancement.

He said the interventions formed part of the Federal Government’s broader strategy to build a competitive maritime workforce, strengthen indigenous capacity and ensure that Nigerians benefit directly from the opportunities being created by the country’s emerging blue economy.

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