The Economic and Financial Crimes Commission (EFCC) has arraigned Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), along with four others, for allegedly defrauding Arik Airline of N76 billion and $31.5 million.
The other defendants include Kamilu Omokide, the former Receiver Manager of Arik Airline Ltd, Captain Roy Ilegbodu, the Chief Executive Officer of the airline, and Super Bravo Ltd.
The defendants face six counts of theft, abuse of office, and stealing by dishonestly taking the property of another. However, they pleaded not guilty to the charges.
Professor Taiwo Osipitan (SAN), the defence counsel for the first and third defendants, informed the court of a motion for a bail application, requesting that the defendants be granted bail on liberal terms.
Mr Olasupo Shasore (SAN), the counsel for the second defendant, also urged the court to grant bail to his client on self-recognition.
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In response, the prosecution opposed the bail applications through counter-affidavits. EFCC Counsel Dr. Wahab Shittu (SAN) expressed concerns that the defendants might be tempted to leave the country.
After hearing arguments from both parties, Justice Mojisola Dada granted bail to each defendant in the sum of N20 million, requiring one surety each in an equal amount.
The judge stipulated that the sureties must be gainfully employed and provide proof of identification. Additionally, the defendants were ordered to submit their international passports to the court registrar.
The court directed that the defendants remain in the custody of their respective counsel pending the fulfilment of their bail conditions. The trial is set to commence on March 17.
The commission also alleged that Kuru, Omokide, and Ilegbodu fraudulently converted N4.9 billion to their use through NG Eagle Ltd in 2022.
Furthermore, the EFCC claimed that the CEO of Arik, Ilegbodu, stole N22.5 million by fraudulently converting it to the benefit of Magashi Ali Mohammed, a property of Arik Airline Ltd.
