FG withdraws N20bn fraud case against ex-AMCON MD Ahmed Kuru

A Lagos high court has struck out the N20 billion fraud case against Ahmed Kuru, former managing director of the Asset Management Corporation of Nigeria (AMCON).

Justice Rahman Oshodi discharged Kuru on Monday following a withdrawal application by the office of the Attorney-General of the Federation (AGF).

Kuru was arraigned in February on a six-count charge bordering on conspiracy, stealing, and illegal property transfer. He pleaded not guilty, while Sigma Golf Nigeria Limited, initially a co-defendant, pleaded guilty and was convicted the same day.

The Economic and Financial Crimes Commission (EFCC) had accused Kuru of diverting AMCON funds through Heritage Bank for Sigma Golf, which allegedly used the money to acquire Keystone Bank.

The AGF later filed a notice of discontinuance dated July 24, leading to Monday’s decision.

Justice Oshodi, citing Nigerian criminal law, said the prosecution has the right to withdraw charges before judgment. He ordered Kuru’s discharge, the release of his travel documents, and the freeing of his sureties from obligations.