In his ruling, Justice Oshodi affirmed the prosecution’s prerogative to withdraw charges at any stage of criminal proceedings.
The Special Offences Division of the Lagos High Court has struck out a ₦60bn criminal suit against Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria, AMCON,
Justice Rahman Oshodi struck out the suit following the notice of discontinuance filed on July 24, 2025 by the Federal Director of Public Prosecution, Mr. M. B. Abubakar, which sought to terminate the case.
At the last sitting of the court, the matter was adjourned for trial, trial had, however, not commenced before the prosecution filed the notice of discontinuance.
The notice, signed by the Director of Public Prosecutions of the Federation, Mohammed Abubakar, sought to terminate the case.
At the hearing of the case, a lawyer from the AGF’s office, V.J. Alma, representing the prosecution, urged the court to discharge the defendant in view of the withdrawal.
The Defence counsel, Olasupo Shasore (SAN), agreed, and further applied for the discharge of the bond entered on behalf of the defendant and the release of his sureties.
In his ruling, Justice Oshodi affirmed the prosecution’s prerogative to withdraw charges at any stage of criminal proceedings.
The judge said, “It is well established in criminal jurisprudence that the prosecution possesses the prerogative to withdraw from the prosecution of any matter at any stage of the proceedings.
“Given that withdrawal, the defendant is hereby discharged under Section 73(1)(i) of the Administration of Criminal Justice Law of Lagos State, 2015. See also Section 108(2)(a) of the Administration of Criminal Justice Act, 2015.”
The court further ordered: “The bond entered on behalf of the defendant is hereby discharged, and his sureties are released from their obligations thereunder.
“Concomitantly, the notice to the Nigerian Immigration Service regarding the withholding of the defendant’s passport shall cease to have effect, and the defendant’s travel documents are hereby released.
“In the circumstances, this matter is hereby struck out,” the judge held.
The Economic and Financial Crimes Commission had, on February 11, 2025, arraigned Kuru on a six-count amended charge bordering on conspiracy, stealing, and transfer of property derived from an illegal act.
He pleaded not guilty.
Kuru was arraigned alongside Sigma Golf Nigeria Limited. The company, however, pleaded guilty on the same day following a plea bargain with the EFCC, and was convicted.
However, Justice Oshodi ordered the forfeiture of 6.3 billion units of ordinary shares in Keystone Bank Limited, valued at N1.00 each, to the Federal Government following Sigma Golf’s admission of fraudulently converting N20 bn belonging to AMCON.
The EFCC alleged that the funds were diverted through Heritage Bank to benefit Sigma Golf Nigeria Limited in facilitating its acquisition of Keystone Bank.
It also accused Kuru, alongside former Heritage Bank Managing Director, Ifie Sekibo (now at large), of dishonestly converting N20 bn of AMCON funds and transferring another N20 bn derived from theft to conceal its source.
According to the commission, the offences contravene Section 332(1) of the Criminal Law of Lagos State, 2011, punishable under Section 332(3).
