The Lagos State High Court in Ikeja has granted permission to the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, to travel abroad for urgent medical treatment, despite his ongoing trial over alleged financial misconduct involving ₦76 billion.
Justice Mojisola Dada approved Kuru’s application for the release of his international passport to enable him to travel to London, United Kingdom. While the nature of his illness was not disclosed, his counsel, Oyinkan Badejo-Okusanya (SAN-designate), cited “extreme urgency” as the basis for the request.
The Economic and Financial Crimes Commission (EFCC) did not oppose the travel request. However, EFCC’s counsel, Wahab Shittu (SAN), voiced concerns about intelligence suggesting that Kuru and other defendants might be involved in efforts to sell off aircraft linked to Arik Air — assets central to the ongoing trial. He questioned whether the travel request might be used to facilitate such transactions, particularly as some aircraft are reportedly in France.
Kuru, the second defendant in the case, is standing 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.
In response to the EFCC’s concerns, Kuru’s lawyer emphasized that the travel was strictly for medical treatment in the UK, not France. Olalekan Ojo (SAN), representing Union Bank, dismissed the EFCC’s claims as speculative and unsupported, stating that the bank maintains a record of corporate integrity.
While acknowledging the EFCC’s concerns, Justice Dada ruled there was insufficient evidence to justify any restriction on assets and declined to issue a restraining order.
The EFCC had arraigned the five defendants in January 2025 on a six-count charge that includes conspiracy, theft, and abuse of office. The prosecution alleges that they defrauded Arik Air of ₦76 billion and $31.5 million.
Union Bank faces one count for allegedly providing false information to a public officer. The remaining defendants are accused of various offences, including the diversion of ₦4.9 billion to NG Eagle Ltd and the fraudulent transfer of ₦22.5 million to an individual identified as Magashi Ali Mohammed.
The EFCC also alleges that the defendants were involved in the arbitrary dismantling of aircraft 5N-JEA, valued at $31.5 million — an act it described as damaging to the country’s economy and Arik Air’s operations.
All defendants have pleaded not guilty. The court previously granted them bail in the sum of ₦20 million each, with one surety in like sum. As part of the bail conditions, all defendants had surrendered their international passports to the court.
The charges were brought under Sections 73, 96, 278(1), and 278(6) of the Lagos State Criminal Law, 2015.
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