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HomeMetroCourt orders Abuja firm KYC Interproject Ltd sealed over alleged N200m fraud

Court orders Abuja firm KYC Interproject Ltd sealed over alleged N200m fraud

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An Abuja-based construction firm, KYC Interproject Ltd., has been ordered sealed and its promoter, Micheal Ayuba Auta, probed over alleged fraudulent practises.

Auta, the managing director of the company, was ordered to be investigated by the Federal Capital Territory (FCT) Police Command over the controversies surrounding the contract sum of N200 million paid to him and his company.

The order by the FCT Upper Area Court followed complaints that the N200 million contract sum had been fraudulently diverted to fund a Labour Party electioneering campaign in Kaduna South during the 2023 general election instead of the properties that it was paid for.

Another business Enterprise, Arodiogbu Enterprises Ltd, was said to have paid the sum to acquire some properties from KYC Interproject Ltd.

Based on the order of the court, the FCT Police Command is tracking Auta with a view to apprehending him for interrogation.

A High Court of FCT, sitting as a vacation court, had on July 28, 2023, also granted an order of interim injunction sealing the construction site of KYC properties and restraining the company and its MD, Auta, from tampering with the properties.

The court made the order while ruling in an application filed by Ugo Nwofor and A.C. Orji asking the court to halt the construction process on the properties situated at Guzape, Abuja, pending the hearing of the motion of notice.

Earlier, while presenting the application in suit number CV/HC/CV/6941/2023 and motion number FCT/HC/M/12040/2023 before the court, the counsel to the applicant, Ugo Nwofor, had argued that the actions of the defendants are overreaching and indeed unconstitutional.

The defendants in the suit are KYC Interprojects Ltd and Micheal Ayuba Auta.

A further hearing in the matter has been fixed for August 9, 2023.

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