The Economic and Financial Crimes Commission (EFCC) arraigned the Former Managing Director of Assets Management Cooperation of Nigeria (AMCON) Ahmed Kuru, four others for allegedly defrauding Arik Airline N76 billion and $31.5 million, respectively.

Other defendants are former Receiver Manager of Arik Airline Ltd, Kamilu Omokide, Chief Executive Officer of the airline, Captain Roy Ilegbodu, and Super Bravo Ltd. The defendants were arraigned on a six-count charge bordering on theft, abuse of office and stealing by dishonestly taking the property of another.

The defendants, however, pleaded not guilty following their arraignment. The defence counsel to the first and third defendants, Prof Taiwo Osipitan ( SAN), informed the court of a motion for bail application dated Nov.28 2024 and Nov.29 2024 for the two defendants. Osipitan argued that the defendants be granted bail on liberal terms which the prosecuting counsel, Wahab Shittu SAN prayed for the rejection.
After listening to the arguments from the parties, Justice Mojisola Dada granted bail to the defendants in the sum of N20 million each with one surety each in like sum and the judge adjourned until March 17 for commencement of trial.