The Lagos High Court in Ikeja has granted former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, permission to travel abroad for urgent medical treatment.
Presiding Judge Justice Mojisola Dada approved an application for the release of Kuru’s international passport to enable him to travel to London, United Kingdom. While the specific nature of the illness was not disclosed, Kuru’s counsel, Oyinkan Badejo-Okusanya, SAN designate, told the court that the request was based on “extreme urgency.”
The Economic and Financial Crimes Commission (EFCC) did not oppose the application, but counsel to the anti-graft agency, Wahab Shittu (SAN), expressed concern over intelligence reports alleging plans by the first and third defendants to dispose of some aircraft linked to Arik Air—the core of the ongoing criminal trial. He questioned whether Kuru’s travel application was a cover for facilitating such transactions, particularly as some aircraft are reportedly located in France.
Kuru, listed as the second defendant, is on trial alongside Kamilu Omokide, former Receiver Manager of Arik Air (first defendant), Captain Roy Ilegbodu, CEO of Arik Air (third defendant), Union Bank of Nigeria PLC, and Super Bravo Limited.
Responding to the EFCC’s concerns, Badejo-Okusanya argued that the allegations did not pertain to her client and that Kuru’s travel destination was the UK, not France. Counsel to Union Bank, Olalekan Ojo (SAN), described the EFCC’s claims as speculative and lacking evidential backing, asserting that Union Bank was a reputable corporate body not involved in any unethical conduct.
Justice Dada acknowledged the concerns raised by the EFCC but declined to impose any restraining order regarding the assets, noting that no documents had been presented to support such a request.
In January 2025, the EFCC arraigned the five defendants on a six-count charge, accusing them of conspiracy and defrauding Arik Air of ₦76 billion and $31.5 million. While Union Bank faces one count of providing false statements to a public officer, the other four are charged with offences including theft and abuse of office.
All defendants pleaded not guilty, and the court granted bail in the sum of ₦20 million each, with one surety in like sum. As part of the bail conditions, the defendants were required to deposit their international passports with the court.
The EFCC alleged that in 2011, Union Bank made false claims to AMCON regarding Arik Air’s loan status, leading to a ₦71 billion transfer to AMCON. The agency also accused Kuru, Omokide, and Ilegbodu of converting ₦4.9 billion to NG Eagle Ltd in 2022 and alleged that Ilegbodu fraudulently diverted ₦22.5 million to Magashi Ali Mohammed.
Further accusations include the alleged arbitrary teardown and destruction of aircraft 5N-JEA, valued at $31.5 million, an act said to be detrimental to Nigeria’s economic stability and that of Arik Air.
The charges, according to the EFCC, violate Sections 73, 96, 278(1), and 278(6) of the Lagos State Criminal Law, 2015.
