The Managing Director of Assets Management Company of Nigeria, Mr Ahmed Kuru, has been arrested and detained by the Economic and Financial Crimes Commission.

Kuru, who has been accused of assets diversion and selling of seized assets to cronies at below value prices by businessmen accused of loan default with banks, was invited by the EFCC earlier on Wednesday.

Ahmed Kuru

A reliable source at the EFCC, confirmed 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. 

With the pendency of the court case, Kuru proceeded to selling the properties in dispute at a price far below the prevailing market value. 

"Kuru will certainly spend the night with the commission as he is still undergoing interrogation," the source added.

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