By ADENIKE AYODELE

The trial of the ex-Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, charged with defrauding Arik Air was stalled due to his counsel, Mr Olasupo Shasore?s absence.

Kuru and four others are facing charges 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, Roy Ilegbodu, Union Bank and Super Bravo Ltd.

They are standing trial on a five-count charge bordering on theft, abuse of office, and dishonest acquisition of another?s property.

Union Bank faces a single count of making false statements to a public officer.

When the case was called on Monday, the Economic and Financial Crimes Commission (EFCC?s) counsel, Dr Wahab Shittu, informed the court of the presence of his witness, noting that the case was for further cross-examination.

However, Mr Tunji Ahmed, who held brief for Shasore, informed the court of an application for an adjournment, noting that other parties had been served.

Ahmed informed the court that Shasore was out of the country for a medical attention.

The prosecution counsel confirmed that the learned silk called him on his trip abroad for health reasons.

?I am particularly concerned why a junior lawyer from the chamber of the learned silk cannot 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, while Shasore is entitled to take good care of his health, this matter is entitled to proceed,? he said.

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 that 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 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. (NAN)

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