A major corruption case involving ₦60 billion has been unexpectedly dropped before reaching trial. Ahmed Kuru, the former Managing Director of Nigeria’s Asset Management Corporation (AMCON), walked free on Monday after the federal government withdrew all charges against him.
According to report, Justice Rahman Oshodi of the Lagos State Special Offences Court struck out the case following an official withdrawal notice from the government.
The notice, signed by the Director of Public Prosecutions M.B. Abubakar, was dated July 24, 2025.
The Economic and Financial Crimes Commission (EFCC) had charged Kuru with six counts of conspiracy, stealing, and transferring illegally obtained property.
He maintained his innocence throughout the proceedings, which began in February 2025.
The case centered on allegations that Kuru helped orchestrate the theft of ₦60 billion from AMCON.
According to prosecutors, ₦20 billion was funneled through Heritage Bank to help Sigma Golf Nigeria Limited acquire shares in Keystone Bank.
Another ₦20 billion was allegedly hidden with the help of fugitive Heritage Bank executive Ifie Sekibo.
While Kuru fought the charges, his co-defendant Sigma Golf Nigeria Limited chose a different path.
The company entered a guilty plea through a plea bargain arrangement, leading Justice Oshodi to order the forfeiture of 6.3 billion Keystone Bank shares worth ₦1 each to the Nigerian government.
On Monday, EFCC lawyer V.J. Alma formally requested Kuru’s discharge following the government’s decision.
Defense counsel Olasupo Shasore supported the move and asked for the release of his client’s sureties and bond.
Justice Oshodi approved the requests, citing legal provisions that allow prosecutors to withdraw cases at any stage.
The court lifted travel restrictions on Kuru, ordered his passport returned, and released his bond before officially striking out the matter.
