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‘Grilled’ EFCC probes AMCON MD Ahmed Kuru on alleged asset diversion

Managing director of Assets Management Company of Nigeria (AMCON), Mr. Ahmed Kuru, was interrogated by the Economic and Financial Crimes Commission (EFCC) on Wednesday.

Kuru was questioned in relation to the alleged asset diversion.

On Wednesday, a senior official from the anti-corruption office confirmed the news.

According to reports, Kuru has been accused of asset diversion and selling seized assets to cronies at below-market prices by businessmen accused of bank loan failure.

Kuru was invited by the EFCC after the agency received confirmation of his selling assets worth billions of naira belonging to Atlantic.

According to the source, Atlantic was accused of loan default with Skye Bank, and properties in collateral were seized while the action was instituted in court.

While the court case was still pending, the AMCON MD allegedly proceeded to sell the properties in dispute at a price far below the prevailing market value.

The development comes months after Kuru began his second term in office as AMCON MD.

Meanwhile, in July 2021, while attending the retreat of the senate committee on banking, Kuru had said AMCON recovered N1.48 trillion out of N4.158 trillion from bank debtors.

He had also said the agency still has 7,902 outstanding obligors with a total outstanding loan of above N3.1 trillion.

Jude Nwauzor, head, Corporate Communications, AMCON, did not respond to our inquiries as of press time.

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About Rotn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is a professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.

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