In a significant development in the ongoing case concerning the alleged ₦76 billion fraud involving Arik Airline, the Ikeja Special Offences Court has granted bail of ₦20 million to Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), along with four other defendants. This ruling was issued by Justice Mojisola Dada during a court session held today.
The defendants, which include Kuru, Captain Roy Ilegbodu (CEO of Arik Air), Kamilu Omokide (former Receiver Manager of Arik Airline), and representatives from Union Bank and Super Bravo Limited, are facing serious charges related to fraudulent activities that have raised concerns within both the aviation and banking sectors. The allegations include making false statements regarding Arik Air's loan status, misappropriation of funds, and the unauthorized destruction of an aircraft valued at $31.5 million.
During today's proceedings, Kuru's counsel assured the court of his client's commitment to appear for future hearings, leading to the revocation of a bench warrant that had been issued due to Kuru's previous absence. The prosecution, represented by Dr. Wahab Shittu, did not object to the bail application, noting that Kuru had provided an undertaking to ensure his presence in court.
The Economic and Financial Crimes Commission (EFCC) has laid out a series of charges against the accused, including theft, abuse of office, and making false statements to public officers. These charges stem from actions taken as far back as 2011, when misleading information allegedly led to a transfer of ₦71 billion to AMCON under false pretenses.