Alleged N2.9bn Fraud: Amadi Opens Defence, Denies Allegation

A businessman, Kenneth Amadi, has told Justice Ambrose Allagoa of the Federal High Court, Lagos that he did not steal N2.9 billion from Eunisell Ltd as alleged by the Federal Government.

Amadi clarified when he opened his defence in an alleged N2.9 billion fraud charges filed against him by the office of the Attorney-General of the Federation, AGF.

Amadi said he joined the company sometime in 2000 based on an oral agreement and that he helped grow Eunisell’s business from a paltry sum of N8 million to billions of naira when he was about to exit the company in 2016.

He said there was no problem between him and Mr Chika Ikenga, Chairman and owner of Eunisell Nigeria Limited throughout his 16 and a half years he was with him until 2016 when he decided to leave the company and concentrate on his own company.

The defendant, a chemical engineer by profession, said in his testimony that when he decided to leave the company to concentrate on his business, he went to meet Ikenga to inform him about the development.

According to Amadi, immediately after he informed him (Ikenga) about the position, Ikenga got angry and started threatening him, saying he cannot start a business that will compete with his own.

Amadi testified that apart from promoting the company’s image, he used his influence to bear on the company to the extent that many big companies, like A-Z International, Ammasco Ltd, and the Nigerian Air Force, Navy among others started to buy the company’s lubricant oil.

“The Navy and the likes were buying Ammasco’s products through my efforts and expertise,” he said.

He said “not long after the October meeting with Ikenga and his friend, Ikenga started writing to his business partners, including foreign partners telling them initially that I stole his money. Ikenga’s action/motive is just to tarnish my image.”

The defendant denied ever stealing the company’s money in any sum and that all the money paid through him was delivered to the company and acknowledged by the company finance manager who was directly responsible to the chairman.

He said he was not in any way connected to the books of the company or the company’s finances except the money paid to him by some of the clients he introduced to the company who paid money through him to ensure that their money is save and that all the money were paid to the company without any issue or problem.

He said: “I did not steal Eunisell’s N2.9 billion or any of their money as the account of the company was not part of his duties neither am I a signatory to the company’s account or in charge of loading their product. He got all the monies

“My schedule is to look for business opportunities for the company, which I did to the best of my ability and for the good of the company. I did not breach any trust.

“He enjoyed the mutual agreement he had with me because he was getting the money from the contacts I brought into Eunisell and he knew where the money was coming from and confirmed receipt for all monies paid into Eunisell’s account.”

The judge adjourned the case till October 20 for the adoption of written addresses by parties.