An Ikeja Special Offences Court on Monday granted bail of N20 million to Ahmed Kuru, former Managing Director of the Assets Management Corporation of Nigeria (AMCON), and four other defendants on trial for the alleged N76 billion and $31.5 million fraud involving Arik Airline.
The other defendants include Kamilu Omokide, former Receiver Manager of Arik Airline Ltd.; Captain Roy Ilegbodu, the airline’s Chief Executive Officer; Union Bank; and Super Bravo Ltd.
Justice Mojisola Dada granted each defendant bail in the sum of N20 million with one surety apiece after considering arguments presented by their respective lawyers.
In December, Kuru appeared before the Ikeja Judicial Division of the Lagos State High Court for trial.
The EFCC filed six count criminal charges against several individuals and organisations, including Kuru, and the Union Bank of Nigeria Plc.
The charges alleged their involvement in the mismanagement of funds belonging to Arik Air Limited totalling a staggering N130 billion.
The charges were filed at the Ikeja Judicial Division of the Lagos State High Court on October 29, 2024. The case is between the Federal Republic of Nigeria as Complainant and Kamilu Alaba Omokide, Ahmed Lawal Kuru, Captain Roy Ilegbodu, Union Bank of Nigeria Plc and Super Bravo Limited as the 1st to 5th Defendants.
Meanwhile, Ahmed Kuru physically appeared in court on Thursday, December 12, 2024, as his lawyer, Olasupo Shashore, SAN, openly apologized for his client’s earlier failure to appear in court.
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