Alleged N135bn Debt: Court Summons Ifeanyi Ubah, Fixes October 18 for Arraignment

Wale Igbintade

Justice Nicholas Oweibo of the Federal High Court sitting in Lagos, yesterday, directed that court summons be issued on Senator Ifeanyi Ubah and his company, Capital Oil and Gas Limited, to answer charges filed against him by the Assets Management Corporation of Nigeria, (AMCON) over an alleged N135 billion debt.

AMCON had in its amended charge number FHC/L383C2019 alleged that Ubah and his company 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 AMCON under a consent judgement him and his company made with AMCON.

When the matter was mentioned yesterday, the embattled Senator was not present in court but was represented by his lawyer.

Addressing the court, AMCON Prosecutor, Mr. Babatunde Lawal, reminded the court that in the proceedings that came up on 13th June, 2023, the defendants were served with the amended charge together with the hearing notice.

He also told the court that at the last adjourned date, Ubah was not in court and hearing notice was again served on him.

Consequently, he urged the court to issue bench warrant against him.

But, Counsel to the defendants, Mrs. Ifeoma Esom, informed the court that the matter was for report of settlement/plea and that they were just informed yesterday that settlement had been failed and it was on the basis of settlement that the 1st defendant was not in court.

In his response, the prosecutor objected on the ground that settlement cannot be reported being a criminal matter, arguing that parties may choose to settle outside the court but cannot make that, part of the business of criminal proceedings.

He further submitted that the best that could happen was for the defendants to enter into a plea bargain, contending that settlement outside court does not give the 1st defendant, (Senator Ubah), the excuse to be absent from court.

Justice Oweibo, however declined to issue a bench warrant, but ordered that summons be served on Ubah through his counsel, to appear in court the next date.

The court also stated that at the next adjourned date, if Ubah fails to appear in court, a warrant would be issued for his arrest.

The court then adjourned the matter till 18th October 2023 for arraignment.