A former Chief Executive Officer (CEO) of now defunct Heritage Bank, Ifie Sekibo has been indicted in a ₦20bn fraud.
Sekibo’s name was mentioned in the criminal trail of a former Managing Director of Asset Management Corporation of Nigeria, (AMCON), Ahmed Kuru and the Chairman of Sigma Golf Nigeria Ltd and ex-chairman of Keystone Bank, Umaru Hamidu Moddibo.
PHOTOS NEWS: GOV. SANWO-OLU MEETS MANAGING DIRECTOR OF INTERNATIONAL FINANCE CORPORATION (IFC), MR. MAKHTAR DIOP AT LAGOS HOUSE, MARINA, ON WEDNESDAY, 5TH JUNE, 2024
In a fresh six-count charge filed by the Economic and Financial Crimes Commission (EFCC), the commission alleged that AMCON funds were converted through Heritage Bank to the use of a company, Sigma Golf Nigeria Ltd for the acquisition of Keystone Bank.
Sekibo’s tenure as CEO of Heritage Bank came to an end in 2022 when he retired. As at that time, Kuru was also the MD of AMCON. Kuru was first appointed to the position by President Muhammadu Buhari in 2015 for a five year tenure before his reappointment in 2020.
At the arrangement of the duo before Justice Rahman Oshodi of the Lagos High Court sitting in Ikeja on February 11, 2025, EFCC disclosed that Sekibo who is also involved in the case was at large.
The anti-graft agency, under the direction of Olanipekun Olukoyede, also accused the defendants, along with Sekibo, earlier said to be at large of dishonestly converting a total of N20 billion of AMCON’s property through Heritage Bank for Sigma Golf Nigeria Limited.
Additionally, they were accused of transferring another N20 billion, derived from theft, with the intent to conceal its source, in violation of Section 332(1) of the Criminal Law of Lagos 2011, which is punishable under Section 332(3) of the same law.
The six counts charge filed against the defendants are,
In count 1, of the fresh 6-count charge, Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large), and Sigma Golf Nigeria Ltd are alleged to have some time in 2016 in Lagos, conspired to commit a felony, to wit: stealing by dishonestly converting the total sum of Twenty Billion Naira (N20,000,000,000), Property of Asset Management Corporation of Nigeria through Heritage bank Limited to the use of SIGMA GOLF NIGERIA LIMITED for the acquisition of Keystone Bank Limited.
The offence of Conspiracy to Steal is said to be contrary to Section 411 and punishable under Section 280 of the Criminal Law of Lagos State 2015.
In count 2, Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large), and Sigma Golf Nigeria Limited sometime in 2016 in Lagos, allegedly dishonestly converted the total sum Twenty Billion Naira (₦20,000,000,000) Property of Asset Management Corporation of Nigeria through Heritage Bank Limited to the use of Sigma Golf Nigeria Limited for the acquisition of Keystone Bank Limited.
The offence of stealing is contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State 2011.
In Count 3, Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large) and Sigma Golf Nigeria Limited on the 17 of November 2016 in Lagos, allegedly transferred the aggregate sum of Ten Billion Naira (N10,000,000,000) derived directly from an illegal act to wit: stealing to conceal the illegal origin of the said sum and to evade the legal consequences of their action.
The offence of transfer of property derived from an illegal act to conceal the illegal origin and evade the legal consequences is contrary to Section 332(1) of the Criminal Law of Lagos 2011 and punishable under Section 332(3) of the same act.
In Count 4, Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large), and Sigma Golf Nigeria Limited on the 23rd of November, 2016 in Lagos, allegedly transferred the aggregate sum of Ten Billion Naira (N10,000,000,000) derived directly from an illegal act to wit: stealing to conceal the illegal origin of the said sum and to evade the legal consequences of their action.
In count 5, Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large) and Sigma Golf Nigeria Limited on 17th November 2016 in Lagos, allegedly dishonestly converted to the use of Sigma Golf Nigeria Limited the total sum of Ten Billion Naira (N10,000, 000,000) Property of Asset Management Corporation of Nigeria through Heritage bank Limited to the use of Sigma Golf Nigeria Limited for the acquisition of Keystone Bank Limited.
In count 6, Ahmed Kuru, Umaru Hamidu Modibbo, Ifie Sekibo (at large), and Sigma Golf Nigeria Limited on 23rd November 2016 in Lagos, allegedly dishonestly converted to the use of Sigma Golf Nigeria Limited the total sumof Ten Billion Naira (N10,000,000,000 ) Property of Asset Management Corporation of Nigeria through Heritage bank Limited to the use of Sigma Golf Nigeria Limited for the acquisition of Keystone Bank Limited.
The charge dated Oct. 24th was signed by Rotimi Oyedepo (SAN) leading Abba Mohammad (SAN), Bilkisu Buhari-Bala, and 6 others.
Post Views: 14
