President Muhammadu Buhari's sack of Mustafa Chike-Obi and his AMCON management board was prompted by the cumulative offences they've committed, Premium Times reports.

“The president has been inundated by complaints about the politicisation of AMCON by its leadership and the lack of transparency in the disposition of assets,” a presidency source said.

“The President had to act to halt the drift in the organisation, and restore efficiency and independence to its operations.”

Also, the Ahmed Joda-led Transition Committee reported to the President that it observed lack of transparency and competitiveness in the way the company disposed of assets.    

A former board member, said Mr. Chike-Obi always had the ears of ex-President Jonathan, and that he was in the habit of disregarding the directives of the Ministry of Finance and the CBN, citing “presidential directive” or “order from above”.

There are also reports that the ex AMCON MD had a listening ear to ex President Goodluck Jonathan and is involved in some shady deals, especially in the sale of the Delta steel company.