Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has granted an application for the release of the international passport of Ahmed Kuru, the embattled former Managing Director of the Asset Management Corporation of Nigeria (AMCON), to enable him to travel to the United Kingdom for medical treatment.
Kuru, the second defendant in an ongoing ₦76 billion and $31.5 million fraud trial involving the defunct Arik Air, was permitted to travel after his counsel, Oyinkan Badejo-Okusanya (SAN designate), argued that the application was filed under “extreme urgency” due to undisclosed health concerns.
While the Economic and Financial Crimes Commission (EFCC) did not oppose the request, its counsel, Wahab Shittu (SAN), raised a red flag, citing an intelligence report alleging that the first and third defendants—Kamilu Omokide, former Receiver Manager of Arik Air, and Captain Roy Ilegbodu, the airline’s CEO—were attempting to dispose of some of Arik’s aircraft currently located in France.
Shittu questioned whether the travel application was a pretext to facilitate the sale of those aircraft, which form part of the subject of the criminal proceedings. He urged the court to maintain the status quo ante bellum pending further inquiries.
However, Justice Dada declined to impose any restraining orders regarding the assets, stating that no documentary evidence was provided to support the EFCC’s claims. She ruled that the concerns, while serious, lacked substantiation at this stage.
Counsel to Kuru maintained that the EFCC’s concerns had no bearing on his client, who is seeking treatment in London, not France. Meanwhile, Olalekan Ojo (SAN), representing Union Bank, one of the co-defendants, dismissed the EFCC’s intelligence claim as mere speculation and defended the bank as a responsible corporate entity.
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The EFCC had, in January 2025, arraigned Kuru, Omokide, Ilegbodu, Union Bank of Nigeria Plc, and Super Bravo Limited on a six-count charge bordering on conspiracy, theft, and fraudulent conversion of assets belonging to Arik Air. They were accused of siphoning ₦76 billion and $31.5 million through various schemes dating back to 2011.
Union Bank was charged with making false statements to public officers, while the other defendants face allegations of theft, abuse of office, and obtaining undue advantage. All defendants have pleaded not guilty and are currently on ₦20 million bail each, with sureties in like sum, and had previously been ordered to surrender their passports to the court.
The EFCC further alleged that in 2022, the defendants fraudulently transferred ₦4.9 billion to NG Eagle Ltd and authorised the destruction of aircraft 5N-JEA, valued at $31.5 million—an act said to undermine the economic stability of both Arik Air and the nation.
The case, which underscores growing concerns about corporate governance, asset recovery, and regulatory oversight in Nigeria’s aviation sector, continues before Justice Dada.