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January 20, 2025

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Alleged N76bn fraud: Court grants ex-AMCON MD, others N20m bail

20th January 2025

Managing Director, Asset Management Corporation of Nigeria, Mr. Ahmed Kuru

Justice Mojisola Dada of an Ikeja Special Offences Court on Monday granted N20m, bail to former Managing Director of Assets Management Corporation of Nigeria, Ahmed Kuru, and four other defendants standing trial for alleged Arik Airline N76 bn and $31.5m fraud.

Other defendants in the trial are the former Receiver Manager of Arik Airline Ltd, Kamilu Omokide, Chief Executive Officer of the airline, Captain Roy Ilegbodu, Union Bank and Super Bravo Ltd.

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Justice Dada granted the defendants bail in the sum of N20m, with one surety each after taking arguments for bail by their respective lawyers.

Detail later…

Onozure Dania

Onozure is a correspondent of The PUNCH on the judiciary beat. She has over a decade experience covering criminal and civil matters from the magistrate to the appellate courts. She’s a graduate of Political Science

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Contact: [email protected]

January 20, 2025

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