Federal Government Withdraws N60 Billion Fraud Case Against Former AMCON Boss Ahmed Kuru

The Federal Government has withdrawn the N60 billion fraud case against former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru.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 in Ikeja discharged Kuru on Wednesday after prosecutors formally dropped six counts of conspiracy, stealing, and unlawful transfer of property. The withdrawal, filed by Director of Public Prosecutions M.B. Abubakar, was dated July 24.

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

Counsel for the Economic and Financial Crimes Commission (EFCC), V.J. Alma, confirmed the agency was discontinuing the charges, while defence lawyer Olasupo Shasore (SAN) did not oppose the application.

Another defendant, Sigma Golf Nigeria Limited, had earlier entered a plea bargain with the EFCC and pleaded guilty, resulting in the forfeiture of 6.3 billion ordinary shares in Keystone Bank linked to the alleged conversion of N20 billion in AMCON funds.

Before the case was withdrawn, Kuru had received court approval to travel abroad for urgent medical treatment. His lawyer, Oyinkan Badejo-Okusanya, described the matter as requiring “extreme urgency,” a request the EFCC did not oppose.

With Wednesday’s ruling, the case — pending since Kuru’s arraignment in February — has now been formally closed.