A Lagos high court has dismissed a N20 billion fraud case against former Asset Management Corporation of Nigeria (AMCON) managing director Ahmed Kuru after the federal government withdrew the charges. The decision was made on Monday by Justice Rahman Oshodi of the Ikeja High Court following an application from the office of the attorney-general of the federation (AGF).
Kuru was first arraigned on February 11 on a six-count amended charge that included conspiracy, stealing, and transferring property obtained through illegal means. He pleaded not guilty. On the same day, Sigma Golf Nigeria Limited — initially charged alongside him — pleaded guilty and was convicted.
The Economic and Financial Crimes Commission (EFCC) had accused Kuru of facilitating the diversion of N20 billion in AMCON funds through Heritage Bank for the benefit of Sigma Golf Nigeria Limited, which allegedly used the funds to acquire Keystone Bank.
However, the trial never began. The AGF filed a notice of discontinuance dated July 24, asking the court to drop the case. At Monday’s proceedings, prosecution counsel V.J. Alma formally requested that Kuru be discharged. His lawyer, Olasupo Shasore, supported the withdrawal and asked for the release of Kuru’s bail bond and sureties.
In his ruling, Justice Oshodi noted that under Nigerian law, the prosecution has the discretion to withdraw charges at any point before judgment. He discharged Kuru under Section 73(1)(i) of the Administration of Criminal Justice Law of Lagos State, 2015, and Section 108(2)(a) of the Administration of Criminal Justice Act, 2015.
The court also ordered the immediate release of Kuru’s travel documents and freed his sureties from all obligations. “The bond entered on behalf of the defendant is hereby discharged, and his sureties are released from their obligations,” Oshodi said. He further directed that the Nigerian Immigration Service lift its notice preventing Kuru from using his passport.
With the withdrawal of charges, the case was officially struck out, bringing an end to the legal proceedings against the former AMCON chief.
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