An Ikeja Special Offences Court has granted N20 million bail to Ahmed Kuru, former Managing Director of Assets Management Corporation of Nigeria (AMCON) for alleged Arik Airline N76 billion and $31.5 million fraud.
Gatekeepers News reports that Kuru was granted bail alongside four other defendants standing trial including Kamilu Omokide, former Receiver Manager of Arik Airline Ltd; Roy Ilegbodu, Chief Executive Officer of the airline; Union Bank and Super Bravo Ltd.
After hearing arguments for the defendants’ bail by their respective counsel, Justice Mojisola Dada, the presiding judge granted the’ bail in the sum of N20 million with one surety each.
The Economic and Financial Crimes Commission (EFCC) had in December 2024, filed charges against Kuru and many top executives of Arik Air, including Roy Ilegbodu and Kamilu Omokide, over their involvement in an alleged N76 billion loan fraud.
The case was brought before the Special Offences Court in Ikeja, Lagos, on Thursday, December 12, 2024, and was adjourned to January 20, 2025, for the formal arraignment of Kuru who didn’t show up for the initial arraignment.
