Tinubu Government Lets Off Kuru, Ex AMCON Boss on N60 Billion Fraud Case 

In a dramatic legal twist, the N60 billion fraud case against former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru, was struck out by the Lagos State Special Offences and Domestic Violence Court on Monday.

Justice Rahman Oshodi delivered the ruling after the federal government, led by President Bola Tinubu, filed a notice of discontinuance on July 24, 2025, through the Director of Public Prosecutions, M.B. Abubakar.

Kuru had been arraigned by the Economic and Financial Crimes Commission (EFCC) on February 11, 2025, facing six amended counts of conspiracy, stealing, and transfer of property derived from an illegal act, to which he pleaded not guilty.

His co-defendant, Sigma Golf Nigeria Limited, pleaded guilty under a plea bargain, leading to the forfeiture of 6.3 billion shares in Keystone Bank Limited, valued at N1 each, to the Nigerian government. The forfeiture followed Sigma Golf’s admission of fraudulently converting N20 billion from AMCON funds.

The EFCC had accused Kuru and the now-fugitive former Heritage Bank MD, Ifie Sekibo, of diverting AMCON funds and concealing another N20 billion. Despite the serious allegations, no trial ever began.

On Monday, prosecution counsel V.J. Alma requested Kuru’s discharge following the case withdrawal, a motion supported by defence counsel Olasupo Shasore (SAN), who also sought the release of Kuru’s sureties and bond.

Justice Oshodi ruled in favour of the prosecution, citing its right to withdraw at any stage, and discharged Kuru under the Administration of Criminal Justice Laws. His passport restrictions were lifted, travel documents returned, and bond cancelled.

“This matter is hereby struck out,” the judge concluded, ending the high-profile case before it could proceed to trial.