₦20bn Fraud Case Against Ex-AMCON Boss Collapses as Court Discharges Kuru

According to Ireporter Online, a Lagos High Court sitting in Ikeja has struck out the ₦20 billion fraud case against former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, after the Office of the Attorney-General of the Federation (AGF) formally withdrew the charges. Justice Rahman Oshodi, who presided over the matter, granted the application to discontinue the prosecution, which was filed on July 24.

Kuru, who was arraigned on February 11 on a six-count amended charge bordering on conspiracy, theft, and the transfer of property derived from unlawful acts, had pleaded not guilty. His co-defendant, Sigma Golf Nigeria Limited, had earlier pleaded guilty and was convicted. The Economic and Financial Crimes Commission (EFCC) alleged that ₦20 billion belonging to AMCON was diverted through Heritage Bank to benefit Sigma Golf Nigeria Limited, which allegedly used the funds to acquire Keystone Bank.

Justice Oshodi noted that Nigerian criminal jurisprudence empowers the prosecution to withdraw charges at any stage before judgment. Acting under Section 73(1)(i) of the Lagos State Administration of Criminal Justice Law, 2015, and Section 108(2)(a) of the federal Administration of Criminal Justice Act, 2015, the court formally discharged Kuru, ordered the release of his travel documents, freed his sureties from their obligations, and struck out the matter.

The court further directed the Nigerian Immigration Service to lift restrictions on Kuru’s passport, clearing the way for him to travel freely.