The Federal Government under President Bola Tinubu has withdrawn a N60 billion fraud case against Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON).
The decision, announced on Tuesday, led to the Federal High Court in Abuja striking out the suit, effectively halting legal proceedings against Kuru.
The case, initiated by the Economic and Financial Crimes Commission (EFCC), alleged that Kuru was involved in fraudulent activities amounting to N60 billion during his tenure at AMCON.
However, the government’s decision to withdraw the charges has sparked speculation about potential political motivations or settlements behind the scenes, though no official reason was disclosed.
Sources close to the matter, indicate that the withdrawal followed high-level discussions, though details remain unclear.
The EFCC has not issued a public statement on the matter, and attempts to reach Kuru for comment were unsuccessful at the time of reporting.
The court’s decision to strike out the suit marks the end of a high-profile case that had drawn significant attention due to the scale of the alleged fraud and AMCON’s critical role in managing distressed assets in Nigeria’s financial sector.
This development comes amidst other recent EFCC case withdrawals, raising questions about the agency’s approach to high-profile prosecutions.
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