Local News

AMCON MD, Ahmed Kuru, under EFCC Searchlight over corruption allegations


The Economic and Financial Crimes Commission (EFCC) on Wednesday grilled the managing director of Assets Management Company of Nigeria, (AMCON), Mr. Ahmed Kuru.

Kuru was quizzed in connection to alleged diversion of assets.


A top official at the anti-graft agency confirmed the development on Wednesday.

Kuru has been accused of asset diversion and selling of seized assets to cronies at below value prices by businessmen accused of loan default with banks, according to a report by Sahara Reporters.

The newspaper quoted a source at the EFCC to have claimed that Kuru was invited by the commission after 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 an 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.


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

My vision is driven by the conviction that Governments primarily have responsibilities to perform and must be held to account on improved conditions that meet basic standards of living; employment generation and livelihoods sustainability; whilst balancing socio-cultural peculiarities of the various constituencies in the new world order.



Abiodun BORISADE is the last child of the 4 children of Late Justice Michael Ayorinde BORISADE and wife, Chief Mrs Oyeyemi BORISADE.
Abiodun holds a Bachelor of science degree in chemistry (1997 EKSU); A Masters degree in Environmental Management (Middlesex University, UK. 2002); A Post Graduate Certificate in Higher Education Lecturing (University of Bolton UK, 2006); A Post Graduate Diploma in Journalism (International Institute of Journalism, University of Maiduguri 2019).

Abiodun lectured in chemistry and general sciences at various renowned UK institutions including Hopwood Hall College, Middleton Greater Manchester; City & Islington College, London.

Abiodun BORISADE is Founder and Chief Executive Office of Elise Integrated Consult Nigeria Limited. A popular media brand www.abiodunborisade.com is also under his direct control.

Abiodun served as Technical Assistant to Ekiti government 2011, and is currently serving as special assistant on new media to ekiti state governor.

He is member to numerous reputable professional bodies within and outside Nigeria.

Copyright © 2021 Abiodun Borisade.

To Top
error: Content is protected !!