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Alleged N20b Fraud: Court Convicts Ahmed Kuru’s Co-defendant

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2 months ago

February 12, 2025

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Sigma Golf Nigeria Limited, a co-defendant in the trial of Ahmed Kuru, former Managing Director, Asset Management Corporation of Nigeria, (AMCON) was on Tuesday, February 11, 2025 convicted and sentenced for fraud by Justice R.A. Oshodi of Special Offences Court, sitting in Ikeja, Lagos.

Kuru, the first defendant is facing prosecution by the Economic and Financial Crimes Commission, EFCC, alongside
Sigma Golf Nigeria Limited on amended six-count charge, bordering on conspiracy, stealing, dishonesty and criminal conversion to the tune of N20 billion.
At today’s proceeding, prosecution counsel, Rotimi Oyedepo SAN informed the court that the reason for the amendment of the charge had to do with Sigma Golf Nigeria Limited,
represented by Umaru Hamidu Modibbo.

Count one reads: “Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large) and Sigma Golf Nigeria Limited sometime in 2016 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to commit felony, to with: stealing by dishonestly converting the total sum of Twenty Billion Naira (N20,000,000,000) property of Asset Management Corporation of Nigeria through Heritage Bank Limited to the use of Sigma Golf Nigeria Limited for the acquisition of Keystone Bank Limited.”

Count three reads: “Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large) and Sigma Golf Nigeria Limited on the 17th of November, 2016 in Lagos, within the jurisdiction of this Honourable Court transferred the aggregate sum of Ten Billion Naira (N10,000,000,000) derived directly from an illegal act to wit: stealing with the aim of concealing the illegal origin of the said sum and to evade the legal consequences of your action.”

Kuru, pleaded “not guilty” when the charges were read to him, while Sigma Golf Nigeria Limited pleaded “guilty.”

Following Sigma Golf Nigeria Limited’s plea, Justice Oshodi declared the company “guilty” as charged and ordered that its liquidation and for all its rights, title and interest in the N6,250,000,000 (Six Billion, Two Hundred and Fifty Million units of the Keystone Bank Limited’s ordinary shares of N1.00 each be forfeited to federal government.

Applying the same sentence on Modibbo, being its alter-ego, the court ordered that “all the rights, title and interest in unit of the Keystone Bank Limited’s ordinary shares allotted to Alhaji Umaru Hamidu Modibbo who represented the company shall be forfeited to the federal government of Nigeria.”

Thereafter, Kuru’s counsel, Olasupo Shasore, SAN, moved a motion for his bail and prayed the court to grant him bail on self-recognition and on liberal terms. While the prosecution did not oppose the bail application, it prayed for tough bail conditions that could make the defendant take court attendance seriously.
“We shall be praying for stringent conditions because we are particular about the attendance in court,” Oyedepo said.

Justice Oshodi granted bail to Kuru in the sum of N50 million with two sureties in like sum who must be gainfully employed and depose to means of identification.
He adjourned till March 7, and April 16, 17, 2025 for commencement of trial.

Visit www.efcc.gov.ng for more stories

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Nnamdi Kanu detained, prosecuted for making same remark as DSS DG, Ajayi – Ejimakor

Published

13 hours ago

April 2, 2025

Ekwutos Blog

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Aloy Ejimakor, the Special Counsel to Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, has reacted to the comment by the Director General of the Department of State Services, DSS, Oluwatosin Ajayi, that Nigerians should defend themselves.

Ejimakor said Kanu was detained and is being prosecuted for making the same comment Ajayi made.

He disclosed that the same remark from Kanu led to the proscription of IPOB and hounding of Igbos as terrorists.

On Tuesday, the DSS DG said Nigerians must take responsibility for their own security, as the military, police, and intelligence agencies do not have the capacity to protect every community from terrorist attacks in Nigeria.

Speaking at a public engagement, the DSS DG made reference to past incidents in Bauchi State, where local communities successfully fought off Boko Haram insurgents without waiting for security forces.

Ajayi urged Nigerians to rethink their approach to self-defence, emphasising that communities must serve as the “first line of defence” against terrorists and other criminals

Reacting, Ejimakor posted on X: “Defend yourselves” is the same thing MAZI NNAMDI KANU said that was twisted to justify his extraordinary rendition & charging him for ‘incitement of violence.’

“It’s also the same thing that led to the proscription of IPOB & the hounding of young Igbos as terrorists. #Injustice.”

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Don’t ever have s$x with a drunk person no matter how much pressure they put on you to do so. They might turn it to r@pe- legal practitioner, Deji Adeyanju, advises

Published

19 hours ago

April 2, 2025

Ekwutos Blog

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Deji Adeyanju, a legal practitioner, has issued a crucial warning regarding sexual activity and consent, emphasizing the importance of refraining from engaging in sexual activity with someone who is intoxicated

Adeyanju took to his X page to stress that individuals under the influence of substances cannot provide informed consent, and engaging in sexual activity with them can have severe consequences, including potential claims of sexual assault or rape.

Never engage in sexual activity with someone intoxicated: Prioritize the well-being and safety of all individuals involved.

Ensure enthusiastic and informed consent*: Obtain clear and willing consent from all parties before engaging in sexual activity.

Prioritize well-being, safety , and autonomy:Respect the autonomy and boundaries of all individuals involved in any social interaction.

Adeyanju’s advice serves as a reminder of the significance of consent and respect in all interactions, promoting a culture of safety, respect, and enthusiastic consent.

Columns

FULL LIST: 11 new NNPC Limited board members

Published

21 hours ago

April 2, 2025

Ekwutos Blog

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President Bola Ahmed Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Malam Mele Kyari.

A statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, indicated that the President removed all other board members appointed with Akinyelure and Kyari in November 2023.

The new 11-man board has Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.

1. Ahmadu Musa Kida – Non-Executive Chairman

2. Bashir Bayo Ojulari – Group Chief Executive Officer (GCEO)

3. Adedapo Segun – Chief Financial Officer (CFO)

4. Bello Rabiu – Non-Executive Director (North West)

5. Yusuf Usman – Non-Executive Director (North East)

6. Babs Omotowa – Non-Executive Director (North Central)

7. Austin Avuru – Non-Executive Director (South-South)

8. David Ige – Non-Executive Director (South West)

9. Henry Obih – Non-Executive Director (South East)

10. Mrs. Lydia Shehu Jafiya – Representative of the Federal Ministry of Finance

11. Aminu Said Ahmed – Representative of the Ministry of Petroleum Resources