Court Clears Kuru, Ex-AMCON Boss Facing N76 Billion Fraud Trial for Foreign Medical Trip

Lagos High Court has granted former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, permission to travel abroad for medical treatment despite his ongoing trial over an alleged ₦76 billion and $31.5 million fraud.

The decision, delivered by Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, followed an application by Kuru’s legal team citing health concerns. The EFCC, which is prosecuting the case, did not oppose the request, provided conditions are met and the trial resumes without delay. Kuru is standing trial alongside Kamilu Omokide, Roy Ilegbodu, Union Bank Plc, and Super Bravo Limited. The EFCC accused the defendants of misappropriating ₦71 billion during AMCON’s acquisition of Arik Air’s debts, fraudulently diverting ₦4.9 billion to fund a new airline (NG Eagle), and illegally deconstructing a $31.5 million aircraft. All defendants pleaded not guilty during their January 2025 arraignment and were granted bail of ₦20 million each, with their passports withheld by court order. The trial has faced multiple adjournments due to the medical-related absences of Kuru’s lead counsel and now the defendant himself. However, proceedings have continued, with former AMCON Executive Director Muhammad Abbas Jega testifying that he did not sign key loan documents and raised concerns about document irregularities. Justice Dada stressed that the court expects Kuru’s timely return, with trial set to resume upon his recovery, as the case continues to draw public attention over its scale and implications for financial accountability in Nigeria.