Lagos State Special Offences Court Judge, Justice Ramon Oshodi, has ordered the forfeiture of 6.3 billion Keystone Bank shares to the Federal Government following Sigma Golf Nigeria Limited’s guilty plea to a N20 billion fraud involving AMCON funds.
The firm, represented by its Chairman, Umaru Modibbo, admitted to fraudulently diverting funds through Heritage Bank to acquire Keystone Bank.
Meanwhile, former AMCON Managing Director, Ahmed Kuru, pleaded not guilty and was granted N50 million bail.
The EFCC, led by Chairman Olanipekun Olukoyede, accused Kuru and fugitive ex-Heritage Bank MD, Ifie Sekibo, of dishonestly converting AMCON funds and laundering another N20 billion to conceal its origins.
Under a plea bargain agreement, the court convicted Sigma Golf Nigeria Limited, ordered its winding up, and mandated the forfeiture of all Keystone Bank shares under its control.
The court also accepted a non-prosecution deal for Modibbo.
With Kuru’s passport seized and his trial set for March 7, the case underscores the EFCC’s crackdown on high-profile financial crimes.
