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The Federal Government has filed criminal charges against the Chairman of Capital Oil and Gas Limited, Senator Ifeanyi Patrick Ubah, and the company.
The charges are related to an alleged N135 billion fraud.
In the charges filed before the Federal High Court in Lagos, the prosecution said the N135bn emanated from a July 2013 consent judgment between Capital Oil and Gas Industries Limited and the Asset Management Corporation of Nigeria (AMCON) and accused Ubah of frustrating AMCON’s efforts to recover the judgment debt.
At the resumption of the proceedings on Wednesday, lawyer to the Federal Government Mr Korede Adegoke informed the court of four pending charges 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 of court since it is all about money.
Counsel to the 2nd defendant, Capital Oil and Gas Limited, Ajibola Oluyede on his part, confirm that his client has been served.
“That is why we have filed a notice of preliminary objections challenging the competency of this charge”.
But in a quick response, the prosecution counsel, Mr Korede Adegoke, said that if the defendant is trying to avoid court proceedings, he would not hesitate to ask for an arrest warrant to enable the prosecution produce him in court.
In a short ruling, Justice Oweibo said since the prosecution had failed to produce the defendant in court today, the case stands adjourned.
The case was then adjourned till February 13, 2020.
