The planned arraignment of chairman of Capital oil and gas limited Senator Ifeanyi Patrick Ubah before the Federal high court sitting in Ikoyi Lagos on Wednesday could not hold due to the absence of the embattled senator.
At the reaume of proceedings today lawyer to the Federal government Mr Kunle Adegoke informed the court of a pending four counts charge pressed against the defendants and urged the court to accept same for the purposes of plea.
But the arraignment was stalled before justice Nicolas Oweibo as Ubah’s lawyer Dr Olisa Agbakoba SAN said that his client has not been served with the charge.
Agbakoba also informed the court that a mediation move is ongoing to resolve the case out court since is all about money.
Counsel to the 2nd defendant, Capital oil and gas limited Ajibola Oluyede on his part confirm that his client have been served.
” That is why we have filed a notice of prilimanry objections challenging the competency of this charge “
But in a quick response, the prosecution counsel Adegoke said that if the defendant is trying to avoid court proceedings, he would not hesitate to as for arrest warrant to enable the prosecution products him court.
In a short ruling justice Oweibo said that in as much that the prosecution fail to produce the defendant in court today, this case stands adjourned.
Accordingly this case is adjourned to 13th of February, 2020.
The charge against ubah read thus;
COUNT 1
That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018, conspired together in making false claims in relation to the actual values of certain assets-transferred to Asset Management Corporation _of Nigeria (AMCON) under the Consent Judgment delivered in Suit No. FHC/ABJ/CS/714/2012 on the 1St day of July, 2013 in partial payment of the Indebtedness of Capital Oil and Gas Industries Limited with a view to defeating the realisation of the said judgment debt of Capital Oil and Gas Industries Limited to AMCON then standing In the sum of 135 Billion Naira contrary to Section 54(1)(a) and (d) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
COUNT 2
That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018, made false claims in relation to the actual values of certain assets transferred to AMCON under the Consent Judgment delivered in Suit No. FHC/ABJ/CS/714/2012 on the 1St day of July, 2013 and which assets were transferred in partial payment of the butstanding indebtedness of Capital Oil and Gas Industries Limited to AMCON with a view to defeating the realisation of the judgment debt ‘of Capital Oil and Gas Industries lelted to AMCON then standing in the sum of 135 Billion Naira contrary to Section S4(1)(a) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
COUNT 3
That you, Ifeanyl Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018 in Nigeria and within the jurisdiction of this honourable Court, being guarantor and debtor respectively, negligently, wilfully or recklessly made a statement or gave information knowing it to be false in relation to the actual values of the assets transferred to AMCON under the Consent Judgment delivered in Suit No. FHC/ABJ/CS/714/2012 on the 1St day of July, 2013 in partial satisfaction of the outstanding loan of N135 Billion Naira owed to AMCON contrary to Section 54(2) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
COUNT 4
That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018 in Nigeria and within the jurisdiction of this honoUrable Court, did obstruCt the implementation of the provisions of the AMCON Act vis-é-vis the realisation of part of your outstanding debt of N135 Billion Naira _by frustrating the sale of the landed property at Banana Island to Dayspring Development Company Limited, which property you both transferred to AMCON by virtue of the Consent Judgement tieiivered by this honourable Court on the 1St day of July, 2013 in Suit No. FHC/ABJ/CS/714/2012 and which act is contrary to §ection 54(5) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
CREDIT: http://securitymonitorng.com/
