February 11, (THEWILL) – An Ikeja Special Offences Court, on Tuesday, ordered forfeiture of Sigma Golf Nig. Ltd. rights, title and interest in 6,250,000,000 units of the Keystone Bank Ltd. ordinary shares of N1.00 each, to the Federal Government.
The court additionally issued an order for the company’s dissolution.
Justice Rahman Oshodi gave the order following a guilty plea by the Chairman of the company, Umaru Hamidu-Modigbo, who represented the company.
The chairman pleaded guilty to an amended six-count charge brought against Sigma Golf by the Economic and Financial Crimes Commission (EFCC).
The forfeiture order was part of a plea bargain agreement between the company and the EFCC.
The charge bordered on conspiracy to steal, stealing, and transfer of property derived from an illegal act to conceal the origin and evade the legal consequences.
Sigma Golf was arraigned alongside a former Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru. While Sigma Golf pleaded guilty to the six-count charge, Kuru pleaded not guilty.
Kuru was, however, admitted to a bail in the sum of N50m with two sureties.
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