A high-profile corruption trial involving the former managing director of the Assets Management Corporation of Nigeria (AMCON), Ahmed Kuru, in the Lagos High Court (special offences division) has been adjourned until May 29 due to the absence of Kuru's lead counsel for medical reasons.
Kuru is facing trial alongside four others - Arik Air's former receiver manager Kamilu Omokide; Arik's current CEO Roy Ilegbodu; Union Bank Plc; and a company called Super Bravo Ltd - who are accused of defrauding the airline of NGN76 billion naira (USD47.8 million) and USD31.5 million.
Nigeria's Punch newspaper and Naija News reported that the trial was due to resume on May 19 for witness cross-examination. Despite the prosecution's objections citing concerns over delays in a case with national aviation implications, Judge Mojisola Dada granted the adjournment because Kuru's lead counsel Olasupo Shasore was out of the country for medical treatment.
The accused, who have all pleaded not guilty, have been charged by Nigeria's Economic and Financial Crimes Commission (EFCC) with six counts of theft, abuse of office, dishonest conversion, and false statements to a public officer.
According to the EFCC, Union Bank falsely reported Arik Air’s loan status in 2011, leading to the alleged improper sale of its loans to AMCON and questionable fund transfers of NGN71 billion (USD44.7 million). The defendants allegedly diverted NGN4.9 billion (USD3.1 million) from Arik Air to NG Eagle (2N, Lagos) and misappropriated additional funds.
They are also accused of unlawfully tearing down a CRJ900ER, 5N-JEA (msn 15058), worth USD31.5 million.
