Alleged Arik N76bn Fraud: Court Grants Ex-AMCON MD, Others N20m Bail
An Ikeja Special Offences Court on Monday granted N20 million bail to former Managing Director of Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four other defendants standing trial for alleged Arik Airline N76 billion and $31.5 million fraud.
The other defendants in the trial are former Receiver Manager of Arik Airline Ltd, Kamilu Omokide, Chief Executive Officer of the airline, Captain Roy Ilegbodu, Union Bank and Super Bravo Ltd.
READ ALSO
- AMCON Mulls Liquidation Of Arik Air Amid Ongoing Debt Recovery Efforts
- Nigeria’s FX Drops By $435m In One Week
Justice Mojisola Dada granted the defendants bail in the sum of N20 million with one surety each after hearing arguments for bail by their respective lawyers.
Hafsoh Isiaq is a graduate of Linguistics. An avid writer committed to creative, high-quality research and news reportage. She has considerable experience in writing and reporting across a variety of platforms including print and online.
