FG withdraws N60bn fraud case against former AMCON boss

The Federal Government has withdrawn the N60 billion fraud case against former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru

Justice Rahman Oshodi of the Lagos State Special Offences Court, Ikeja, on Wednesday discharged Kuru after prosecutors formally dropped six counts of conspiracy, stealing, and illegal property transfer. The notice of withdrawal, dated July 24, was filed by Director of Public Prosecutions M.B. Abubakar.

Justice Oshodi ordered the release of Kuru’s sureties, the return of his passport, and the lifting of his travel ban. “Kuru is discharged under the Administration of Criminal Justice laws,” the judge said.

Economic and Financial Crimes Commission (EFCC) counsel V.J. Alma confirmed the agency was discontinuing the case, while defence lawyer Olasupo Shasore (SAN) did not object.

Another defendant, Sigma Golf Nigeria Limited, earlier struck a plea bargain with the EFCC and pleaded guilty, leading the court to order the forfeiture of 6.3 billion ordinary shares in Keystone Bank tied to the alleged diversion of N20 billion in AMCON funds.

Before the case was dropped, Kuru had secured court approval to travel abroad for urgent medical treatment, which his lawyer, Oyinkan Badejo-Okusanya, described as “extremely urgent.” The EFCC raised concerns about other defendants potentially disposing of assets while overseas, but the court ruled those concerns did not affect Kuru.

With Wednesday’s decision, the case that began with Kuru’s arraignment in February is now officially closed.

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