Category Archives: News

Alleged N135bn Fraud: FG Returns to Court Against Ifeanyi Ubah, Capital Oil & Gas Limited

The Federal Government has filed criminal charges against Senator Ifeanyi Patrick Ubah and his company, Capital Oil and Gas Limited.

The charges, filed before the Federal High Court in Lagos, are related to an alleged N135 billion fraud.

Lawyer to the Federal Government, Mr. Korede Adegoke, on Wednesday informed the court of four pending charges pressed against the defendants and urged the court to accept the charges for the purpose of taking their plea.

In the first charge, the prosecution accused Senator Ubah and his company of conspiring together, sometime between 2012 and 2018, “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)”.

The second charge held that the defendants “made false claims in relation to the actual values of certain assets transferred to AMCON” under the consent judgment, contrary to Section 54(1)(a) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).

The third charge read, “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, being guarantor and debtor respectively, negligently, willfully 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)”.

In the fourth charge, the defendants were accused of  obstructing 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 delivered 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 Section 54(5) of the Asset Management Corporation of Nigeria Act, 2010 (as amended)”.

The arraignment of the defendants before Justice Nicolas Oweibo was however stalled, as Ubah’s lawyer, Olisa Agbakoba (SAN), said his client had not been served with the charges.

Agbakoba also informed the court that a mediation move was ongoing to settle the case out of court.

Counsel to the second defendant, Capital Oil and Gas Limited, Ajibola Oluyede, on his part, confirmed that his client had been served.

“That is why we have filed a notice of preliminary objections challenging the competency of this charge,” he told the court.

In response, the prosecution counsel said he would not hesitate to ask the court for a warrant of arrest for Senator Ubah if he was trying to avoid court proceedings.

After listening to lawyers for the parties involved, Justice Oweibo, adjourned the case since the prosecution had failed to produce the defendant in court.

He adjourned the case till February 13, 2020.

“His victory is temporary” – Dino on Smart Adeyemi

The candidate of the Peoples Democratic Party (PDP) in the Kogi West senatorial district election, Senator Dino Melaye, has insisted that he won the poll.

He stated this on Sunday, a day after he lost his bid to remain in the Senate to Senator Smart Adeyemi of the All Progressives Congress (APC).

Despite suffering a defeat to his APC rival, Senator Melaye stressed that he would always win Senator Adeyemi whom he described as his political wife.

“I want to assure you that Smart Adeyemi would remain my political wife, I started politics before him,” he said during his appearance on Channels Television’s Sunday Politics.

Melaye added, “I won the election and the duty of Smart Adeyemi is temporal and evaporative. I want to assure you that those congratulating Smart Adeyemi amount to congratulating an armed robber after a successful operation.”

Officers’ Death: Police Declare Nnamdi Kanu’s Lawyer Wanted

Police authorities in Anambra State have declared one Ifeanyi Ejiofo, a lawyer to self-acclaimed leader of the proscribed Indigenous People of Biafra (IPOB) Nnamdi Kanu, wanted.

The Commissioner of Police in the state, John Abang, made the declaration in a video obtained by Channels Television on Tuesday.

This followed an incident in Oraifite town which led to the killing of two police officers by suspected members of the proscribed group.

Abang urged residents in the state to promptly report any information on Ejiofo’s whereabouts to the police or other security agencies.

He said, “Gentleman, I will like to let Nigerians know that as we speak, Barrister Ejiofor, an IPOB member, and his cohorts have been declared wanted by the command.

“And I will seek the cooperation of law-abiding Nigerians from North, South, East, and West; wherever they find this individual, they should report to the nearest police station or any other security agency for possible arrest and prosecution, based on the rules and laws of Nigeria.”

In a statement released earlier, the police said some suspected IPOB members killed two police officers and injured others in Oraifite town.

According to the spokesperson for the Anambra State Police Command, Haruna Mohammed, the attackers set a police patrol van set ablaze during the incident which occurred on Monday.

He explained that the security operatives had responded to a complaint against Ejiofor on alleged case of abduction, assault occasioning harm, and malicious damage to property.

The police patrol teams led by the Area Commander in Oraifite, Oliver Abbey, were said to have mobilised to the scene in order to arrest Ejiofor who was said to have declined police invitation.

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