An Ikeja Special Offences Court has directed the Economic and Financial Crimes Commission (EFCC) to submit an investigative report and electronic statement of Keystone Bank held with the
Central Bank of Nigeria. The order was made on Tuesday by Justice Rahman Oshodi in the ongoing N20 billion fraud trial involving Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON).
Justice Oshodi instructed the EFCC to serve both the court and the defence with these documents, emphasizing that the ruling would guide the next stage of the trial and ensure the defence has full access to the prosecution’s evidence before further proceedings.
The case was adjourned to October 6 for continuation.
At the previous hearing, the defence counsel, Olasupo Shasore (SAN), requested additional evidence from the prosecution.
Ahmed Kuru and Sigma Golf Nigeria Limited were arraigned on February 11 on amended six-count charges, including conspiracy to steal, stealing, and money laundering aimed at concealing the origin of stolen funds and evading legal consequences.
While Kuru pleaded not guilty, Sigma Golf, through its chairman Hamidu-Modibbo, entered a guilty plea under a plea bargain agreement.
Following the plea bargain, the court convicted Sigma Golf and ordered the forfeiture of its shares in Keystone Bank to the Federal Government.
EFCC alleged that the defendants and others, still at large, committed the offences in 2016 by conspiring to dishonestly convert N20 billion belonging to AMCON through Heritage Bank Ltd.
The funds were used by Sigma Golf to acquire Keystone Bank Ltd.
Additionally, Sigma Golf and others were accused of transferring N10 billion derived from the theft to conceal the source and avoid legal repercussions.