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Former AMCON Boss, Others Face Court Over Alleged Multi-Billion Fraud Against Arik Air

The Economic and Financial Crimes Commission (EFCC) yesterday arraigned five individuals, including the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, for allegedly defrauding Arik Air of ₦76 billion and $31.5 million. The other defendants include the former Receiver Manager of Arik Air, Kamilu Omokide; the airline’s CEO, Captain Roy […]

Ibori Risks Losing $130 Million as UK Judge Orders Confiscation

On Friday, Judge David Tomlinson of Southwark Crown Court in London issued a significant ruling, ordering the confiscation of £101.5 million pounds ($130.34 million) from former Delta state governor, James Ibori. In naira terms, the confiscated amount stands at N101,1 billion, which is approximately one-ninth of the amount shared by the three tiers of the […]

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