Nigerian Fotballer Nwankwo Kanu loses 

N1.4billion to manager of his hotel

kanu-nwankwoNigeria’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 


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.

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.