Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, has approved applications by former Managing Director of the Asset Management Corporation of Nigeria, Ahmed Kuru, and two co-defendants for the temporary release of their international passports to enable them to travel abroad for medical treatment.
According to The Punch, Kuru is being prosecuted alongside Kamilu Omokide, Capt. Roy Ilegbodu, Union Bank of Nigeria Plc and Super Bravo Limited on a six-count charge brought by the Economic and Financial Crimes Commission.
The charges border on conspiracy, stealing and abuse of office in connection with an alleged fraud involving N76 billion and $31.5 million.
According to the EFCC, Union Bank allegedly misrepresented the status of Arik Air Limited’s performing loans to AMCON in 2011, leading to the transfer of what it described as an inflated loan portfolio valued at N71 billion.
The commission further alleged that Kuru, Omokide, who served as Receiver-Manager of Arik Air, and Ilegbodu, the airline’s Chief Executive Officer during the receivership, diverted N4.9 billion belonging to Arik Air to NG Eagle Limited in 2022.
At Tuesday’s proceedings, counsel for the first and third defendants, Prof. Taiwo Osipitan (SAN), informed the court that applications had been filed seeking the temporary release of their clients’ passports to facilitate medical trips abroad. Counsel representing the second defendant also made a similar request on behalf of his client.
Responding, EFCC prosecuting counsel, Wahab Shittu (SAN), said the commission did not oppose the applications.
He, however, urged the court to ensure an accelerated hearing of the substantive criminal case.
In her ruling, Justice Dada granted the requests and directed that the affected defendants’ international passports be temporarily released to enable them to travel for medical treatment.
The judge subsequently adjourned the matter until October 26, 2026, for the continuation of the trial.
At the previous sitting on June 25, 2026, the court admitted a Certified True Copy of a Court of Appeal judgment affirming the legality of AMCON’s appointment of a Receiver-Manager over Arik Air Limited.
The document was admitted while the EFCC’s fourth prosecution witness, Bawa Kaltungo, Director of the EFCC’s Lagos Zonal Directorate 2, continued his testimony.
The judgment was tendered during Kaltungo’s cross-examination by Prof. Osipitan, counsel for the first and third defendants.
During the proceedings, the defence relied on the appellate court decision, which overturned an earlier judgment cited by Arik Air promoter and complainant, Sir Johnson Arumemi-Ikhide, in challenging the receivership.
The Court of Appeal decision reaffirmed the powers of AMCON’s Receiver-Manager to administer the airline’s affairs.
After portions of the judgment were read in court, Justice Dada admitted the document into evidence.
Despite the ruling, Kaltungo insisted that the appellate court’s decision neither altered the outcome of the EFCC’s investigation nor changed Arik Air’s ownership structure, maintaining that the airline remained owned by its shareholders despite being under receivership.
The witness stated that “the appointment of a receiver-manager does not transfer ownership of the company to the Federal Government.”
The hearing also focused on the prosecution’s allegation that Omokhide and Ilegbodu unlawfully authorised the teardown of an aircraft identified as 5N-JEA, Serial Number 15058, valued at about $31.5 million.
Under cross-examination, Kaltungo admitted that the EFCC’s investigation did not establish that proceeds from the aircraft teardown were traced to the personal accounts of either defendant.
“I have said it before that no money was traced to their personal accounts,” the witness told the court.
However, he maintained that dismantling the aircraft was unlawful and remained a key aspect of the prosecution’s case.
The defence, in response, presented documents it said showed that JEM Leasing Limited, the alleged owner of the aircraft, had authorised the teardown. Kaltungo challenged the authenticity of those documents, arguing that the purported authorisation letter was not written on the company’s official letterhead.
Justice Dada also admitted a Certified True Copy of a Federal High Court judgment delivered by Justice Alexander Owoeye in Suit No. FHC/L/CS/1141/2024.
The defence argued that the judgment recognised that Captain Samuel Caulcrick, Capt. Isiaka Oyeshina Akinfenwa and other personnel involved in the teardown acted under authority granted by the aircraft’s owners.
Also admitted in evidence was an AMCON board resolution authorising and ratifying the establishment, transfer and allotment of shares in NG Eagle Limited, including shares allocated to Capt. Ilegbodu.
The court further heard evidence relating to allegations that about N4.9 billion realised from Arik Air’s assets was diverted to establish NG Eagle instead of being used to reduce the airline’s outstanding debts.
Kaltungo maintained that financial records obtained during the investigation showed that the funds were not applied towards servicing Arik Air’s liabilities.
