The Economic and Financial Crimes Commission (EFCC) of Nigeria has reportedly arrested Ahmed Kuru, the Managing Director of Assets Management Company of Nigeria (AMCON).
According to Sahara Reporters, the EFCC invited the AMCON chairman to its Abuja headquarters amid allegations of asset diversion and the sale of confiscated assets to cronies at below-market rates.
Kuru was questioned after selling assets worth billions of Naira that belonged to Atlantic, according to the news platform.
Atlantic was accused of loan default with Skye Bank, according to an EFCC source, and properties in collateral were taken while the process was being pursued in court.
With the pendency of the court case, Kuru proceeded to sell the properties in dispute at a price far below the prevailing market value.
However, the source said the AMCON boss spent the night in the EFCC custody and he is still undergoing interrogation.
Ada Peter
