The trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, over alleged fraud involving Arik Air was stalled yesterday due to the absence of his counsel, Mr. Olasupo Shasore (SAN).
Kuru and four others are facing charges in connection with an alleged N76 billion and $31.5 million fraud.
Other defendants in the case include Kamilu Omokide, former Receiver Manager of Arik Air; Capt. Roy Ilegbodu, the airline's Chief Executive Officer; Union Bank; and Super Bravo Ltd.
They are being prosecuted on a five-count charge bordering on theft, abuse of office, and dishonest conversion of property.
Union Bank faces an additional charge of making false statements to a public officer.
At Monday's proceedings, Dr. Wahab Shittu appeared for the prosecution.
Prof. Taiwo Osipitan represented the first and third defendants, Tochukwu Amaefule represented the second defendant, Oluwaferanmi Rotimi appeared for the fourth defendant, and Chukudi Nwandike represented the fifth defendant.
Shittu, counsel to the Economic and Financial Crimes Commission (EFCC), informed the court that a witness was present and the matter was scheduled for further cross-examination.
However, Mr. Tochukwu Amaefule, who held brief for Shasore, requested an adjournment, citing a letter dated May 13.
He informed the court that Shasore was out of the country receiving medical treatment.
Shittu confirmed that Shasore had personally called to explain his health situation.
He said: "While I appreciate his courtesy and wish him a speedy recovery, I must point out that his call is more a matter of courtesy than one of justice.
"The court will recall that the second defendant previously delayed arraignment until a bench warrant was issued. I am concerned as to why a junior lawyer from the learned Silk's chambers cannot proceed with the matter.
"This is a case of national and international importance concerning the aviation sector. While Mr. Shasore is entitled to seek medical care, this matter also deserves to proceed without delay."
In response, Prof. Osipitan, counsel to the first and third defendants, stated that his clients were ready for trial and eager to defend themselves against the allegations.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
He urged the court to fix multiple dates to ensure a speedy hearing.
Justice Mojisola Dada subsequently adjourned the matter to May 28, June 4, June 30, July 1, and July 2, 2025, for continuation of trial.
According to the EFCC, Union Bank allegedly made false statements to AMCON in 2011 regarding Arik Air's performing loans, which led to the unjustified sale of the loans and bank guarantees.
The bank is accused of subsequently transferring N71 billion to AMCON.
The EFCC further alleged that in 2022, Kuru, Omokide, and Ilegbodu were involved in the diversion of N4.9 billion to NG Eagle Ltd.
It also claimed that Ilegbodu converted N22.5 million for the benefit of one Magashi Ali Mohammed, funds purportedly belonging to Arik Air.
Additionally, the defendants are accused of unlawfully authorizing the teardown and destruction of aircraft 5N-JEA (Serial No. 15058), valued at $31.5 million, an act the EFCC claims was arbitrary and detrimental to both Nigeria's economic stability and that of Arik Air Ltd.
The alleged offences violate Sections 73, 96, 278(1), and 278(6) of the Criminal Law of Lagos State, 2015.
