AMCON:Court strikes out charge against Ifeanyi Ubah, over Alleged N135bn debt

The Federal High Court sitting in Lagos has struck out the charge filed by the Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Ubah and his company, Capital Oil and Gas limited, over an alleged N135bn debt

Justice Nicholas Oweibo dismissed the charge following an oral application by counsel for AMCON, Oluwaseun Onabowu, seeking the withdrawal of the suit.

At the last sitting of the court on June 13, the court had directed that criminal summons be issued on Senator Ubah and his company, Capital Oil and Gas Limited.

The court gave the directive in the criminal prosecution of the Senator by the Federal Government of Nigeria on an 8-count charge bordering on his alleged indebtedness to AMCON.

At Wednesday’s proceedings, counsel for the complainant informed the court that following a consent judgement reached in a sister case which was before the court in Abuja, parties had agreed that the case against Ubah should be withdrawn in Lagos.

The counsel urged the court to strike out the charge filed against the Defendants.

Ifeoma Esom, counsel for the defendants also confirmed to the court that agreements have been reached with the complainant.

In his ruling, Justice Oweibo struck out the charge.

In its eight-count amended charge AMCON had alleged that Senator Ifeanyi Ubah and his company Capital Oil and Gas Industries Limited conspired together in making false claims.

It stated that the claims were in relation to the actual values of certain assets transferred to AMCON under a consent judgement he and his company made with AMCON.

Also, the defendants were also alleged to have obstructed AMCON in the realization of part of his outstanding debt of N135Billion by frustrating the sale of a property at Banana island, Lagos.

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Valentine Ozigbo Resigns from Labour Party

In a shocking move, against all speculations over the last few days, Valentine Ozigbo, a close ally of Peter Obi, has announced his resignation from the Labour Party (LP). Ozigbo confirmed his decision to Diaspora Digital Media on Wednesday, February 19, 2025, but declined to provide further details, opting instead to share his reasons during an interactive session on X (Twitter) Space. The session, scheduled for 8 PM, will feature Ozigbo in conversation with Anambra's First Son, @uchepokoye, discussing pressing issues affecting Anambra State, including security challenges, societal fabric collapse, and the hope for a better future. Ozigbo's resignation has sparked interest, with many awaiting his detailed explanation for leaving the Labour Party. His decision comes at a critical time for the party, which has been navigating various challenges in recent months. Credit: Diaspora Digital Media

NIGERIAN NOTCH

Search This Blog