EFCC Withdraws N60bn Criminal Case Against Ex-AMCON Boss Ahmed Kuru

By Babatunji Wusu

• Kuru was facing six-count charge of conspiracy, theft, and illegal property transfer.
• Co-defendant, Sigma Golf Nigeria Limited, earlier convicted after plea bargain.
• Court orders release of Kuru’s travel documents and discharge of sureties.

The Economic and Financial Crimes Commission (EFCC) has withdrawn its N60 billion criminal suit against former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru.

Kuru was arraigned on February 11, 2025, before Justice Rahman Oshodi of the Lagos State Special Offences and Domestic Violence Court on six counts of conspiracy, theft, and transferring illegally obtained property. He pleaded not guilty, while co-defendant Sigma Golf Nigeria Limited pleaded guilty under a plea bargain and was convicted.

Following the plea deal, the court ordered the forfeiture of N6.3 billion ordinary shares in Keystone Bank to the federal government. The EFCC alleged that the funds used in acquiring Keystone Bank were diverted through Heritage Bank to benefit Sigma Golf Nigeria Limited.

Kuru and fugitive former Heritage Bank boss, Ifie Sekibo, were accused of converting N20 billion of AMCON funds and concealing another N20 billion derived from theft.

Although the case was adjourned for trial, the prosecution filed a notice of discontinuance on July 24, 2025, signed by Mohammed Abubakar, Director of Public Prosecutions of the Federation. At the hearing, prosecution counsel Victor Alma urged the court to discharge Kuru.

Justice Oshodi ruled that the prosecution has the right to withdraw charges at any stage of criminal proceedings, discharging Kuru under relevant provisions of the Lagos State and federal criminal laws.

The court also discharged the bond entered on Kuru’s behalf, released his sureties, and lifted restrictions on his passport, ordering the return of his travel documents.