The Economic and Financial Crimes Commission (EFCC) has alerted a Lagos court about alleged plans to secretly sell off assets tied to the ongoing N75 billion and \$31.5 million fraud case involving former AMCON Managing Director, Ahmed Kuru.
During proceedings on Wednesday, July 30, at the Special Offences Court in Ikeja, EFCC counsel Wahab Shittu (SAN) raised concerns that Kamilu Omokide, the Receiver Manager of Arik Air, and the airline’s CEO, Capt. Roy Ilegbodu, were planning to dispose of aircraft involved in the case.
Omokide and Ilegbodu are on trial alongside Kuru, Union Bank of Nigeria Plc, and Super Bravo Limited on charges of conspiracy, stealing, and abuse of office.
Shittu’s warning followed an application by Ilegbodu requesting court permission to travel abroad for urgent medical care. While Shittu did not oppose the request, he cited intelligence reports indicating a move to sell off critical assets, potentially affecting the trial’s outcome.
“This case is at a critical stage. We do not want anything that will undermine the court proceedings or tamper with the subject matter of this case,” Shittu told the court.
Lawyers for the accused parties denied any wrongdoing. Ilegbodu’s lawyer said his client had no power to sell any aircraft, while Union Bank’s counsel, Olalekan Ojo (SAN), described the EFCC’s claims as “mere speculation.”
Justice Mojisola Dada granted Ilegbodu’s travel application and also approved earlier travel requests made by other defendants on July 17, 2025.
The case involves allegations of financial misconduct related to Arik Air, one of Nigeria’s major airlines previously taken over by the Asset Management Corporation of Nigeria (AMCON). The EFCC is prosecuting the case to recover funds and prevent the illegal sale of disputed assets while trial proceedings are ongoing.