The 30-year-old Mr Phiri of Makeni area in Lusaka was charged with 12 counts of theft by servant and fraudulent false accounting.
He, however, pleaded not guilty to the charges when he appeared in court.
The Director of Public Prosecutions Ms Lillian Siyunyi has since entered a nolle prosequi in Mr Phiri’s favour.
Chief resident magistrate Lameck Mwale then had to discontinue the matter in view of the nolle prosequi.
In the first count to the twelfth count, Mr Phiri is alleged to have, in 2019 on different dates, as an employee of Atlas Mara, stolen varying amounts of local and foreign currency totaling K1.2 million altogether.
When the matter came up for continued trial, State prosecutor Juvenalis Kamutondole informed the court that the matter was set for continued trial but the State was not ready to proceed with the matter as they were in receipt of a nolle prosequi from the DPP.
Magistrate Mwale told Mr Phiri that in the light of the nolle prosequi that has been entered by the DPP in his favour, he was discontinuing the matter and that he was free to go home.