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KANU NWANKWO LOSES N1.4 BILLION

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Nigeria’s football star, Nwankwo
Kanu has lost N1.4 billion in his hotel business and the Managing Director of
the hotel, Mr. Ayoola Gam Ikon, 49, has been arrested and charged to court for the alleged fraud.

Operatives of the Inspector General of Police Monitoring
Unit arrested Ikon, the managing director of Hardley Suites Limited situated at
Waziri Ibrahim Crescent, off Elsie Femi Pearse Street, Victoria Island, Lagos
southwest Nigeria, for allegedly stealing the N1.4 billion belonging to the
hotel and suites owned by Kanu.

Also arrested along with him over the alleged fraud
is a hotel staff, Oke Samuel. They were arraigned before an Igbosere
Magistrate’s court on a 19-count charge of felony to wit, obtaining money under
false pretence.


The police alleged in charge suit No. K/8/2013 that
Ikon was arrested following a complaint by the management of Hardley Suites
Limited, Nwankwo Kanu and Ogbonna Kanu, that Ikon between 2005 and 2012
allegedly defrauded them of the sum of about N1.4 billion on the pretence of
using the money to expand the existing facilities of the hotel by constructing
and furnishing of additional blocks of 30 suites and conference facilities, but
he allegedly failed to use the money for the purpose and allegedly converted
the money to his personal use.

He was also alleged to have forged a special
resolution purportedly made by the board of directors of Hardley Suites Limited
to obtain loans of N187 million, N50 million and N493 million from Skye Bank
Plc without authorization. The offences, the accused allegedly committed,
according to the prosecutor A.M. Animashaun, contravenes sections 8 (a) 1 (a)
of the advanced fee fraud and other fraud related offences Act 2006 as
applicable in Lagos State.

The accused pleaded not guilty to all the charges.
The prosecutor presented before the court an application for the remand of the
accused persons in prison custody pending advice from the office of the
directorate of public prosecution, DPP, because the lower court lacks the
jurisdiction to try the matter.

But the Chief Magistrate, Mrs. O.O. Oshin overruled
him with legal facts after quoting copiously from several sections of the
criminal justice administration laws of Lagos State to buttress her claim that the court has the
jurisdiction to hear and admit the accused to bail. She admitted the first
defendant to bail in the sum of N1 million with two sureties in like sum.

One of the sureties must be the defendant himself,
the other should be a civil servant on level 16. She also admitted the second
defendant to bail in the sum of N500,000, with two sureties in like sum. One of
the sureties must be a level 16 civil servant while the other must be working
with a reputable company. She adjourned the matter till 4 April, 2013 for mention. The defendants were, however, moved to
Ikoyi Prison, Lagos pending when they would fulfil the bail conditions.

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