The Economic and Financial Crimes Commission (EFCC), on Monday, arraigned former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, and four others for allegedly defrauding Arik Air of N76 billion and $31.5 million.
The other defendants include Kamilu Omokide, the former Receiver Manager of Arik Airline Limited, Captain Roy Ilegbodu, the Chief Executive Officer of the airline and Super Bravo Limited.
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.
The defence counsel for the first and third defendants, Professor Taiwo Osipitan, SAN, informed the court of a motion for a bail application, requesting that the defendants be granted bail on liberal terms.
Counsel for the second defendant, Mr Olasupo Shasore, SAN, also urged the court to grant bail to his client on self-recognition.
In response, the prosecution opposed the bail applications through counter-affidavits. EFCC Counsel, Mr 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 with one surety in like sum.
The judge said 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 further 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.
EFCC had, in the charge, alleged that Kuru, Omokide, and Ilegbodu fraudulently converted N4.9 billion to their use through NG Eagle Ltd in 2022.
The anti-graft agency also claimed that the CEO of Arik, Ilegbodu, allegedly stole N22.5 million by fraudulently converting it to the benefit of Magashi Ali Mohammed, a property of Arik Airline Ltd.
