Court grants bail to ex-AMCON boss Ahmed Kuru, others in Arik Airline fraud

The Ikeja Special Offences Court on Monday granted bail to the former Managing Director of the Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four other defendants in connection with an alleged ₦76 billion and $31.5 million fraud involving Arik Airline.

The other defendants include the former Receiver Manager of Arik Airline, Kamilu Omokide, the airline’s Chief Executive Officer, Captain Roy Ilegbodu, Union Bank, and Super Bravo Ltd.

Justice Mojisola Dada granted the defendants bail in the sum of ₦20 million each, with the condition of providing one surety apiece. The decision followed arguments by their legal representatives advocating for bail.

More details to follow…