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.
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