- Court grants N20 million bail to ex-AMCON MD Ahmed Kuru and four others.
- Defendants are accused of a N76bn and $31.5 million fraud linked to Arik Airlines.
- Each defendant must provide one surety as part of their bail conditions.
An Ikeja Special Offences Court on Monday granted N20 million bail to Ahmed Kuru, the former Managing Director of the Assets Management Corporation of Nigeria (AMCON), and four other defendants involved in the alleged N76 billion and $31.5 million fraud case linked to Arik Airlines.
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The other defendants in the trial include Kamilu Omokide, the former Receiver Manager of Arik Airline Ltd; Captain Roy Ilegbodu, the airline’s Chief Executive Officer; as well as Union Bank and Super Bravo Ltd.
Justice Mojisola Dada, after hearing arguments from the defendants’ lawyers, granted each defendant bail in the sum of N20 million with one surety required for each.
The defendants are facing charges related to the fraudulent acquisition of funds through Arik Airlines.
The court’s decision to grant bail came after the defense teams presented their cases.
The defendants have pleaded not guilty to the charges, which involve alleged fraudulent activities that led to the financial troubles of the airline.
The case, which has drawn significant attention due to its financial scale, is set to continue with the defendants’ bail conditions in place.
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