The ongoing trial of former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, over an alleged N76 billion and $31.5 million fraud, was stalled again yesterday due to the absence of his lead counsel, Mr Olasupo Shasore (SAN).
Kuru, along with four other defendants, former Receiver Manager of Arik Air Ltd., Kamilu Omokide, the airline’s Chief Executive Officer, Capt. Roy Ilegbodu, an old generation bank, and Super Bravo Ltd. are standing trial on a five-count charge bordering on conspiracy, theft, abuse of office, and dishonest conversion of property belonging to Arik Air.
The Economic and Financial Crimes Commission (EFCC) also charged the old generation bank with making false statements to a public officer regarding Arik Air’s financial position.
At the resumed hearing at the Special Offences Court in Ikeja, Lagos, EFCC counsel, Dr Wahab Shittu (SAN), announced the presence of a witness, prepared for cross-examination.
However, the trial could not proceed as Shasore was said to be out of the country receiving medical attention.
Mr Tunji Ahmed, who held brief for Shasore, presented an application for adjournment dated May 13, which he said had been served on all parties.
He confirmed that Shasore was undergoing medical treatment abroad.
Shittu, while acknowledging the courtesy of Shasore’s direct communication regarding his absence, expressed concern over the repeated delays in the trial.
“While Mr Shasore is entitled to take care of his health, this matter, being one of national and international significance, must also proceed,” he argued.
He recalled that the second defendant had previously delayed proceedings, prompting the court to issue a bench warrant.
Shittu questioned why a junior lawyer from Shasore’s chambers could not handle the case in his absence.
“This case concerns the aviation sector of this country. The repeated delays are prejudicial to justice,” Shittu added.
Presiding judge, Justice Mojisola Dada, consequently adjourned the matter to May 28 for continuation of the trial.
The EFCC accused the old generation bank of deliberately making false statements to AMCON in 2011, misrepresenting Arik Air’s loan performance.
These false claims, the agency said, led to the transfer of N71 billion to AMCON under false pretences.
Further allegations include the fraudulent conversion of N4.9 billion in 2022 by Kuru, Omokide, and Ilegbodu for the benefit of NG Eagle Ltd., as well as the unlawful diversion of N22.5 million by Ilegbodu to a third party, Magashi Ali Mohammed, funds which allegedly belonged to Arik Air.
Additionally, the anti-graft agency accused the defendants of authorising the dismantling and destruction of aircraft 5N-JEA (Serial No. 15058), valued at $31.5 million.
The EFCC said this act was arbitrary and prejudicial to the economic stability of both Arik Air Ltd. and the Federal Republic of Nigeria.
The prosecution maintained that the alleged offences contravene Sections 73, 96, 278(1), and 278(6) of the Criminal Law of Lagos State, 2015.
