A Federal High Court sitting in Lagos has struck out the charge filed by Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Uba, representing Anambra south senatorial district of Anambra state.
Senator Ifeanyi Ubah, alongside his company, Capital Oil and Gas limited were arraigned before justice Njcholas Oweibo of the Federal High court Ikoyi over alleged one hundred and thirty five Billion Naira owed to AMCON.
Justice Oweibo during the adjourned sitting Wednesday struck out the suit following an oral application by the counsel to AMCON, Oluwaseun Onabowu seeking withdrawal of the suit.
Oluwaseun Onobowu while urging the court to strike out the case explained that consent Judgements had been reached by parties in other sister case in Abuja, the Federal Capital Territory.
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Counsel to the defendants Ifeoma Esom however confirmed to the court that agreements have been reached with the complainant to withdraw the case before the court.
During its last sitting in court, Senator Ifeanyi Ubah was absent where he was supposed to take his plea, the court directed that criminal summons be issued on him and his company, Capital Oil and Gas limited if he fails to appear on the adjourned October 18th date for Arrangement.
AMCON had in its amended eight- Count charge before the court alledged that Senator Ifeanyi Ubah and his company, Capital Oil and Gas limited sometimes between 2012 and 2018 conspired in making false claims in relation to the actual values of certain assets transferred to AMCON under a consent Judgement he and his company made with AMCON.
The defendants were also alleged to have obstructed AMCON in realisation of part of his outstanding debt of one hundred and thirty five billion naira by frustrating the sale of a property at Banana island Lagos.
The prosecutor also alleged that Senator Ifeanyj Ubah lied under oath in respect of the actual values of the assets he listed in the terms of settlement and offered in partial payment of the debts of Capital Oil and Gas Company.
Recall that the embattled Senator two weeks ago decamped from the Young People’s Party( YPP) to the ruling All Progressives Party ( APC) where the Senate President, Godswill Akpabio and other leadership of the party received him at the Party’s Secretariat in Abuja.
Editor : Ena Agbanoma
