A Lagos court has directed the Economic and Financial Crimes Commission (EFCC) to provide an investigative report and the electronic statement of account related to Keystone Bank and the Central Bank of Nigeria. This order came during the ongoing trial of Ahmed Kuru, former Managing Director of the Asset Management Corporation of Nigeria (AMCON), who is facing charges of a N20 billion fraud.
Justice Rahman Oshodi issued the directive, stating that both the court and the defence team must receive the documents. The judge emphasized that access to these materials is necessary to ensure fairness in the upcoming stages of the case.
The next hearing has been scheduled for October 6. At the last session, the defence counsel, Olasupo Shasore (SAN), requested additional proof of evidence from the prosecution. Kuru, who was arraigned on February 11 alongside Sigma Golf Nigeria Ltd., faces six amended charges. These include conspiracy, theft, and attempting to hide the origin of stolen property.
While Kuru pleaded not guilty, Sigma Golf, represented by its chairman Hamidu Modibbo, accepted guilt under a plea bargain agreement. As a result, the company was convicted, and the court ordered the forfeiture of its rights and interests in Keystone Bank shares to the federal government.
The EFCC claims that in 2016, Kuru and others still at large transferred N20 billion belonging to AMCON through Heritage Bank to acquire Keystone Bank for Sigma Golf. An additional N10 billion, allegedly stolen, was transferred in an attempt to hide its source and avoid legal consequences.
