EFCC charges former AMCON MD Ahmed Kuru, four others with N76 billion, $31.5 m

EFCC  charges former AMCON MD Ahmed Kuru,  four others  with N76 billion, $31.5 million fraud.

The Economic and Financial Crimes Commission (EFCC) has  charged Ahmed Kuru, former Managing Director of the Asset Management Corporation of Nigeria (AMCON),  and four  others over  fraud allegations  against Arik  Airline.
The development was disclosed in a statement by the  anti-corruption agency, shared on X (formerly Twitter), on  Monday.
The four  co-accused include Kamilu Omokide, former  Managing Director of Arik Airline Ltd; Captain Roy Ilegbodu,  Managing Director of the airline; Union Bank Ltd; and a company, Super Bravo  Ltd.

The EFCC has charged Union Bank with making false statements to public  officials. The other defendants  are charged with five counts, including theft, abuse of  office and  dishonest appropriation of  property. At their  trial, all five defendants pleaded not guilty to the  charges.

Travel through Quang Binh to  breathtaking film locations
The news continues after this  announcement.
Arguments for  conditional release
The lawyer for the first and third defendants, Taiwo Osipitan (SAN),  applied for  bail, insisting that his clients  have no criminal  record and had cooperated with  the EFCC investigations, including adhering to  the conditions of their administrative  bail.
Similarly, Olasupo Shasore (SAN), representing Kuru,  applied for bail on  recognizance, citing his client's  continued compliance with  the EFCC administrative bail and the need to  ensure his  presence in court.
The news continues after this  announcement.
In response, EFCC  counsel, Wahab Shittu  (SAN), opposed the bail applications, arguing that the defendants were  charged with serious economic sabotage and posed a flight  risk. Shittu suggested that the court impose strict conditions, including the seizure of their passports, to ensure their presence during the trial.

[attachment deleted by admin]