Justice Mojisola Dada of the Ikeja Special Offences Court on Monday granted bail in the sum of N20 million to Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), and four other defendants facing trial for an alleged N76 billion and $31.5 million fraud involving Arik Air.
The other defendants in the case include Kamilu Omokide, the former Receiver Manager of Arik Air Ltd; Captain Roy Ilegbodu, the airline’s CEO; Union Bank; and Super Bravo Ltd.
Justice Dada granted each defendant bail of N20 million, with one surety required for each defendant, after hearing arguments from their respective lawyers.
Details later.
