The Federal Government has dropped the N60 billion fraud case against former managing director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru.
Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja on Wednesday discharged Mr Kuru after the prosecution formally withdrew the six-count charges of conspiracy, stealing and transfer of property derived from an illegal act.
The withdrawal, dated July 24, was filed by Director of Public Prosecutions, M.B. Abubakar.
Announcing the court’s decision, Justice Oshodi said: “Kuru is discharged under the Administration of Criminal Justice laws.”
The judge ordered the release of Mr Kuru’s sureties, the return of his passport and lifted the travel restrictions placed on him.
Counsel for the Economic and Financial Crimes Commission (EFCC), V.J. Alma, told the court the agency was discontinuing the charges. Defence counsel Olasupo Shasore (SAN) did not object to the application.
Another defendant in the matter, Sigma Golf Nigeria Limited, had earlier entered into a plea bargain with the EFCC and pleaded guilty. Justice Oshodi consequently ordered the forfeiture of 6.3 billion ordinary shares in Keystone Bank linked to the alleged fraudulent conversion of N20 billion in AMCON funds.
In a related development before the withdrawal, Mr Kuru had been granted permission to travel abroad for urgent medical treatment. His lawyer, Oyinkan Badejo-Okusanya, described the situation as requiring “extreme urgency”.
The EFCC did not oppose his application, although it raised concerns about other defendants potentially disposing of assets while abroad. The court ruled those concerns did not apply to Mr Kuru.
With Wednesday’s decision, the case which had been pending since his arraignment in February is now formally closed.
