Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), and four others have been arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding Arik Airline of N76 billion and $31.5 million.
The other defendants include Kamilu Omokide, Captain Roy Ilegbodu, and Super Bravo Ltd.
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.
Justice Mojisola Dada granted bail to each defendant in the sum of N20 million, requiring one surety each in an equal amount.
The EFCC alleged that Kuru, Omokide, and Ilegbodu fraudulently converted N4.9 billion to their use through NG Eagle Ltd in 2022.
Additionally, the commission claimed that Ilegbodu stole N22.5 million by fraudulently converting it to the benefit of Magashi Ali Mohammed, a property of Arik Airline Ltd.
The trial is set to commence on March 17.
The defendants were ordered to submit their international passports to the court registrar and remain in the custody of their respective counsel pending the fulfilment of their bail conditions.
