The Economic and Financial Crimes Commission (EFCC), has arrested and detained Mr. Ahmed Kuru, the Managing Director of Assets Management Company of Nigeria (AMCON). ayokinews.com reports
Kuru was invited by the EFCC earlier on Wednesday, after being accused of asset diversion and selling confiscated assets to cronies at below-market rates by businesses accused of debt default with banks.
The AMCON MD was invited by the EFCC after confirmation of his selling assets worth billions of naira belonging to Atlantic, according to a reputable source at the agency.
According to the source, Atlantic was suspected of defaulting on a loan with Skye Bank, and collateral was confiscated while a legal case was pending.
During the course of the court proceedings, Kuru proceeded to sell the disputed properties for a fraction of their current market worth.
“Kuru will certainly spend the night with the commission as he is still undergoing interrogation,” the source added.