Thursday , March 23 2023


Secret Reporters

Just when it was thought that the worst has been seen of the atrocious financial escapades of Ahmed Kuru and his evil genius Mr Francis Atuche following the fraudulent takeover of the defunct Bank PHB, fresh information obtained by SecretReporters has revealed that  not only is he as dirty as sin but also his involvement in the granting of outrageous facilities running into Billions of Naira to cronies and proxies in a bid to expand his scamming tentacles eventually led to the liquidation of the bank.

It was gathered that Ahmed Kuru who appears to be the kingpin of this heist alongside other Executive Management allegedly granted a N17,000,000,000 (Seventeen Billion Naira) facility to the Vice Chairman of Investment and Allied Assurance Company (IAA) Mr Funmi Ademosun using their approving authorities and funneled same through the accounts of Home Trust Savings and Loans Limited another company also chaired by Mr Funmi Ademosun.

This facility granted to Mr Ademosun sources revealed, was done by the evil genius and his cohorts in the guise of merging accounts targeted at share purchase for mopping of IAA shares in the stock market howbeit it is alleged that this move was to enable Ademosun who is a close ally to Mr Atuche invest in other stocks in order to diversify their tentacles.

It was also gathered that this plan was perfected and executed without any suspicion by the relevant agencies saddled with the responsibility of ensuring transparency of financial dealings when they wittingly failed in providing the accurate financial status of the bank to the creditors of the Central Bank of Nigeria.

An investigative report on the matter obtained by SecretReporters also revealed that the creditors of Central Bank of Nigeria (CBN) may have been a party to the shady deal initiated by Ahmed and Atuche as despite series of protests and petitions written and sent to them for an in-depth probe into the process that led to the merger of Platinum Bank Plc and Habib Bank Nigeria Plc, no significant action has been carried out by the apex bank.

More findings reveal that Funmi Ademosun, who is also the Chief Executive of H.T Real Estate Limited, Home Trust Savings & Loans Limited, H.T Asset Management Limited, Coral BDC Limited, Greenwich Trust Limited among others, is allegedly even more corrupt than Ahmed Kuru and Mr Francis Atuche combined who having being licensed to carry out banking and foreign exchange business uses same to dupe unsuspecting Nigerians of hard currencies running into Millions of Dollars.

Ademosun who has been dragged severally to appear before the Economic and Financial Crimes Commission (EFCC) under the leadership of Farida Waziri have always returned untouched, calling bluff the actions of his petitioners as insider sources allege that he has bought over the “Ogas that whistle to the eagle” at the Lagos and Abuja offices leading to the burning of all his case files. 

Another source who pleaded anonymity also squealed that the erstwhile chairman of the EFCC Farida Waziri also gave a standing order to all offices of the commission stating that on no account should he (Ademosun) be touched or investigated while discarding all cases and petitions written against the latter when she was sacked by President Goodluck Jonathan in 2011.

It is believed that the financial hooliganism of the trio and many other fraudulent financial experts has in no small way affected the economy as it has hampered the readiness of investors to do business in Nigeria especially as it concerns financial investments. 

Calls and text messages sent to both Ahmed Kuru and Francis Atuche by our correspondent to get their reaction to the story were not returned or replied as at press time.

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