How Ex-CEO, Kenneth Amadi, Defrauded Me of N2.9bn -Founder

The founder and chairman of Eunisell Limited, Mr. Chika Ikenga, has told a Lagos Federal High Court how a businessman, Kenneth Ndubuisi Amadi, allegedly defrauded the company of the sum of N2. 9 billion, while working with the company as Sale Representative and Chief Executive Officer (CEO).
Mr. Ikenga also told the court how the Kenneth Ndubuisi Amadi fraudulently altered the company’s invoices without approval, forged the company’s documents and used same to give false information.
Mr. Ikenga also told the court how the businessman, used his company’s funds to establish his firm, named IDID Nigeria Limited.
Mr. ikenga made the above narrations, while testifying before the court presided over by Justice Lewis Allagoa, on Friday, in a criminal charge filed against Kenneth Ndubuisi Amadi, by the Office of Attorney-General of the Federation (AGF).
AGF had dragged Kenneth and his company, IDID Nigeria Limited before the court on a five-count charge of charges bordering on conspiracy and fraud of N2.9 billion.
AGF in the charge said the businessman sometimes in 2019, allegedly received by false pretense and with an intent to defraud, obtained the sum of N2. 9 billion, belonging to Eunisell Limited, from A-Z Petroleum Limited and Ammasco International Limited; omitting making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Limited; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited.
The offences according to the prosecution are contrary to section 1(1)(a) of the Advance Fee Fraud and other fraud-related offences Act, Cap. A6, laws of the Federation of Nigeria, 2004; Section 1(2)(c) of the miscellaneous Offences Act, Cap M17, laws of the Federation of Nigeria, 2004; Section 14(1) of Cyber crimes (Prohibition, Prevention, Etc.) Act 2015 and Section 434 of the criminal code Act, Cap. C38 Laws of the Federation of Nigeria 2004, and punishable under section 1(3) of the same Act.
He had pleaded not guilty to the charges.
At the resumed trial on Friday, Mr. Ikenga when asked by the prosecutor, Mrs. Aderonke Imana, how he know the defendant (Kenneth Ndubuisi Amadi) said: “he joined my company as Sales Representative and left as Chief Executive Officer (CEO).
“When a company, Oronite appointed us a distributor in Nigeria, and I asked him why he didn’t back to them, he didn’t give me any good reason.
On search of CAC record, it was revealed that our own CEO is the alta ego , when I confronted him, he said it was devil.
“After he left, we did audit of our accounts and it was revealed that payments that supposed to be coming to our accounts from those that we supplied our products to, were coming from the first and second defendants’ account.
“Our bank also revealed that the second defendant is a company owned by the first defendant.
“We also wrote to the police and Investigation revealed that he was receiving monies from the companies we supplied to”.
When probed if his office empower the defendant to receive on the company’s behalf, Mr. Ikenga replied and said: ” He has no mandate or authorization to receive money on behalf of the company”.
The witness also told the court that when the company started receiving monies without any narration, they wrote the bank to know the sources of the money and it was revealed that the defendant have been receiving the monies from two companies, A-Z Petroleum Limited and Ammasco International Limited which they supplied goods to.
When asked if the defendant was still working with the firm audited his account, he said; “He has left the company when the audit was done.
When asked to describe the defendant’s actions, he said; “what transpired was that he (the defendant) breach our trust in him. He is using his position, privilege and our company’s information to the benefits of our competitors. He used our funds to fund his company. He altered our invoices without approval. He forged our documents and used same to give false information. He failed to show purpose of the payment he paid into our accounts”.
When asked when the audit was done, the witness told the court that the audit was done between January 1, 2016 and October 28, 2016. And Police Investigation was done between January 2012 and December 31, 2015.
When asked of total amount diverted by the defendant, he said; ” all amount diverted by the defendant was N2.9 billion”.
Th defendant while being asked if he has the report of Investigation, during cross examined by the defendant’s lawyer, Mr. Emeka Etiaba (SAN) he did not have any report.
When told the the defendant sued in in a civil suit at Abuja, he affirmed the position but said the defendant lost the suit and the suit against him was dismissed.
When asked to comment on his petition to the EFCC against the defendant, which the defendant was cleared. He said: “We reported him to the EFCC in 2017, interestingly, EFCC hasn’t give us any report till today. Our petition to EFCC’s Abuja’s office was a reminder, and I went to Abuja for it”.
When told of a criminal charge against him before a court in Abuja, he confirmed being charged but said he was never arraigned. He added DCP Ibrahim Yusuf, who was in charge of the matter, after observing improper Investigation that on the charge, ordered that the matter be reinvestigated and after the Investigation the matter was handed over to AGF for Prosecution of the defendant.
When asked how much the company’s money is with the defendant, the witness mentioned N103 million, and that the money has not been send to his company. He also to the court that when the company as one of its customers, told A-ZPetroleum Limited, he said the petroleum company said it had paid all the money.
Meanwhile, further hearing of the charge has been adjourned till November11 and 12.