How Tinubu’s AGF, Fagbemi, Bungled Watertight N20Billion Fraud Case Against Former AMCON MD Ahmed Kuru –Sources

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 The Attorney-General of the Federation (AGF), Lateef Fagbemi (SAN), has been accused of deliberately sabotaging one of Nigeria’s most watertight corruption prosecutions, involving former Asset Management Corporation of Nigeria (AMCON) Managing Director Ahmed Kuru, raising doubts about the Tinubu administration’s commitment to the fight against financial crime.

Kuru had been facing a six-count amended charge bordering on conspiracy, stealing, and transfer of property derived from an illegal act, over the alleged diversion of N20 billion in public funds through Heritage Bank for the benefit of Sigma Golf Nigeria Limited, which allegedly used the money to acquire Keystone Bank.

EFCC’s Strong Case and Past Convictions
The Economic and Financial Crimes Commission (EFCC) had already secured a conviction against Kuru’s co-conspirator, Sigma Golf Nigeria Limited, and recovered N6 billion of the stolen funds.

Sources told SaharaReporters that the Kuru case was “one of the most watertight” files the EFCC had ever pursued.

“The EFCC had already convicted his accomplice and recovered N6 billion out of the N20 billion stolen,” one insider said.

Previous attempts by former AGF Abubakar Malami (SAN) to discontinue the case were blocked by EFCC lawyer Rotimi Oyedepo (SAN), whose resistance led the Justice Ayo Salami-led panel to recommend him for disciplinary action — a reflection of the high-level tension surrounding politically sensitive corruption trials.

AGF Fagbemi’s Withdrawal and Court Ruling
Despite the EFCC’s strong case, sources say Fagbemi’s office unilaterally moved to withdraw the charges against Kuru without EFCC consultation. On July 24, 2025, the AGF’s office filed a notice of discontinuance at the Lagos High Court in Ikeja.

At Monday’s hearing, prosecution counsel V.J. Alma applied for Kuru’s discharge. Defence counsel Olasupo Shasore supported the application and sought release of Kuru’s bail bond and sureties.

Presiding judge Rahman Oshodi ruled that under Nigerian law, the prosecution may withdraw charges at any stage before judgment. He accordingly discharged Kuru under Section 73(1)(i) of the Administration of Criminal Justice Law of Lagos State, 2015, and Section 108(2)(a) of the Administration of Criminal Justice Act, 2015.

The court also ordered the immediate release of Kuru’s travel documents and discharged his sureties.

Criticism Over Political Interference
Sources within the EFCC say the withdrawal undermines public confidence in anti-corruption prosecutions, signalling that political influence can override even the most robust criminal cases.

“The EFCC had built a strong case with clear evidence. To see it discontinued without consultation or explanation is a major blow to the anti-corruption campaign,” one source lamented.

Other High-Profile Cases Withdrawn Under Fagbemi

• Oba Otudeko Case (N12.3 Billion Fraud)
  On June 10, 2025, Fagbemi reportedly overruled the EFCC in a fraud case against Honeywell Group chairman Oba Otudeko, preventing the agency from compelling his arraignment. The AGF informed the court that his office had taken over the matter and was negotiating settlement, prompting adjournment.

• Stella Oduah Case (N5 Billion Fraud)
  The AGF allegedly stalled the EFCC’s suit against former aviation minister Stella Oduah, who defected to the APC in August 2021. Despite being ordered by an Abuja court in July 2023 to take over the matter, Fagbemi never filed fresh charges or allowed the EFCC’s case to proceed.

SaharaReporters previously exposed Oduah’s controversial purchase of two armoured BMW 760 Li vehicles for N255 million while serving as aviation minister in 2013, despite the Nigeria Civil Aviation Authority (NCAA) struggling with critical funding needs.

• Nneka Onyeali-Ikpe Case
  In June 2025, the AGF’s office withdrew criminal charges against Dr. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank, in a multi-billion-naira fraud case involving Woobs Resources Limited. The AGF stated she had no direct link to the fraudulent account and was neither the account officer nor bank MD when it was opened.

Implications for Nigeria’s Anti-Corruption War
Critics say the pattern of withdrawals under AGF Fagbemi’s tenure has weakened the EFCC’s credibility and emboldened financial crime perpetrators. Sources warn that the lack of prosecutorial independence risks turning Nigeria’s anti-corruption war into a selective exercise influenced by political connections.