Court Throws Out ₦20bn Fraud Suit Against Ex-AMCON Head Nigerians React

A Lagos High Court in Ikeja has dismissed the criminal 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.....KINDLY READ THE FULL STORY HERE▶

Justice Rahman Oshodi, presiding over the matter on Monday, approved the AGF’s application to discontinue the trial, which had been filed on July 24.

Kuru had been arraigned on February 11 on a six-count amended charge involving allegations of conspiracy, theft, and transferring property obtained through unlawful means. He pleaded not guilty to all charges.

On the same day, co-defendant Sigma Golf Nigeria Limited pleaded guilty and was convicted.

According to the Economic and Financial Crimes Commission (EFCC), ₦20 billion belonging to AMCON was allegedly diverted through Heritage Bank for Sigma Golf Nigeria Limited, which reportedly used the funds to acquire Keystone Bank.

In his ruling, Justice Oshodi noted that Nigerian criminal law grants the prosecution the authority to withdraw charges at any stage before judgment.

“It is a well-settled principle in criminal jurisprudence that the prosecution has the prerogative to withdraw from any matter at any point before the court delivers its verdict,” he stated.

The judge discharged Kuru 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.

Justice Oshodi also ordered the return of Kuru’s travel documents, released his sureties from their obligations, and struck out the case.

“The bond entered on behalf of the defendant is hereby discharged, and the sureties are freed from all commitments. Likewise, the notice to the Nigerian Immigration Service to withhold the defendant’s passport is nullified, and the defendant’s travel documents are to be released immediately,” the judge ruled.