19th May, 2025
Azeez Folorunso
The trial of the former the ex-Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, charged with defrauding Arik Air today was stalled due to the absence of his counsel, Mr Olasupo Shasore (SAN).
Kuru and four others are alleged of N76 billion and $31.5 million fraud, respectively.
The other defendants are former Receiver Manager of Arik Air Ltd., Kamilu Omokide, Chief Executive Officer of the airline, Capt. Roy Ilegbodu, Union Bank and Super Bravo Ltd.
They are standing trial on a five-count charge bordering on theft, abuse of office and dishonestly taking the property of another.
Union Bank was charged with a count of making false statements to a public officer.
When the case was called on Monday, Economic and Financial Crimes Commission (EFCC) Counsel, Dr Wahab Shittu, informed the court of the witness presence and that the case was for further cross-examination of the witness.
However, Mr Tunji Ahmed, who held held brief for Shasore, informed the court of an application for adjournment dated May 13 in which he said other parties had been served.
Ahmed informed the court that Shasore was out of the country for a medical attention.
Shittu, also confirmed to the court that the learned silk called him on his trip abroad for health reasons.
He said: “In as much as I appreciate his predicament based on health and I wish him speedy recovery, we appreciate his courtesy calling us.
“The learned silk call to us is in the realm of courtesy but rarely in the rare of justice because the court can recall that the second defendant had sometimes stall his arraignment until a bench warrant was issued against him.
“I am particularly concerned why a junior lawyer from the chamber of the learned silk can not take up the matter in his absence.
“This is a case of national and international matters which has to do with aviation of this country and while Mr Shasore is entitled to take good care of his health, this matter is entitled to proceed.”
Justice Mojisola Dada adjourned the case until May 28 for continuation of trial.
The anti graft agency alleged that sometime in 2011, Union Bank, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees, made false statements to AMCON.
EFCC alleged the false statement was made regarding Arik Air’s performing loans and later transferred the sum of N71 billion to AMCON.
The commission also alleged that Kuru, Omokide and Ilegbodu, sometime in 2022, fraudulently converted to the use of NG Eagle Ltd., the total sum of N4.9 billion.
The anti-graft agency also alleged that the CEO of Arik stole the sum of N22.5 million by fraudulently converting same to the use of Magashi Ali Mohammed.
EFCC said the money belonged to Arik Air Ltd.
The commission also alleged that the defendants obtained undue advantage for themselves and intentionally authorised the tear down and destruction of 5N-JEA with Serial No. 15058 valued at $31.5 million, an arbitrary act.
EFCC said the act was prejudicial to the economic stability of the Federal Republic of Nigeria and Arik Air Ltd.
According to the prosecution, the alleged offences contravene Sections 73, 96, 278(1) and 278(6) of the Criminal Law of Lagos State, 2015
