The Special Offences Court sitting in Ikeja, Lagos, on Tuesday admitted a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, to bail in the sum of N50m with two sureties.
The court also convicted and wound up a company, Sigma Golf Nigeria Limited and ordered the forfeiture to the Federal Government, all rights, title and interest of the company in Six Billion, Two Hundred and Fifty Million (6,250,000,000) units of Keystone Bank Limited’s ordinary shares of 1.00 each.
Justice Rahman Oshodi handed down this judgment which formed part of the terms of a plea bargain agreement between the company and the Economic and Financial Crimes Commission (EFCC) following the guilty plea of the company through its Chairman, Umaru Modibbo, after his arraignment in court on Tuesday.
