N135b AMCOM Fraud: FG moves against Ifeanyi Ubah (READ DETAIL)

Federal High Court in Lagos yesterday adjourned till April 2 the arraignment of the Chairman of Capital Oil and Gas Limited, Senator Ifeanyi Patrick Ubah, for alleged N135 billion fraud.

Ubah and his firm, Capital Oil, are accused of defrauding the Asset Management Company of Nigeria (AMCON).

Justice Nicholas Oweibo fixed the date following Ubah’s second consecutive absence in court.

The Federal Government, which is prosecuting the matter, told the judge that it had been unable to serve the defendants their October 30, 2019 charges.

Its lawyer, Kunle Adegoke, alleged that Ubah had been evasive.

The defendants were scheduled for arraignment last December 4 on a four-count charge, but Ubah was absent.

When the case was mentioned yesterday, Adegoke argued an ex parte application seeking permission for the court’s bailiff to serve Uba the charge through his lawyer, Dr. Olisa Agbakoba (SAN).

Adegoke’s application was supported by an affidavit sworn to by Haleemah Adegoke.

The affidavit averred that Haleemah tried to effect service of the charge on Ubah personally in December, 2019, at Capital Oil and Gas Industries’ registered office, but was unable to do so.

He had been been evading service since then, Haleemah said.

In a short ruling, Judge Oweibo granted Adegoke’s prayer.

He ordered that Uba should be served though Agbakoba and adjourned till April 2 for the defendants’ arraignment.

But a lawyer who said he held the brief for Capital Oil and Gas Limited, Mr Ajibola Oluyede, told the court informally that there was a process for amicable settlement of the matter.

Last December 4, Agbakoba told the judge that Ubah had not been served with the charge.

He also told the court that a mediation move was ongoing to resolve the matter out court “since it is all about money”.



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