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Alleged N135bn debt: Court dismisses criminal charges against Ifeanyi Ubah



Justice Nicholas Oweibo of the Federal High Court, Lagos, on Wednesday, dismissed the criminal charges filed against the Senator representing Anambra South Senatorial District, Ifeanyi Ubah, by the Asset Management Corporation of Nigeria (AMCON).

The judge struck out the charges after the AMCON counsel, Oluwaseun Onabowu, filed an application for the withdrawal of the case.

Onabowu told the court that the parties had agreed that the case should be withdrawn following a consent judgement reached in another case at the Federal Capital Territory (FCT) High Court in Abuja.

Ubah, who dumped the Young Progressives Party (YPP) for the All Progressives Congress (APC) last week, was, however, absent in court for the proceeding.

READ ALSO: Ifeanyi Ubah gives reason for APC switch

AMCON filed the charges against the lawmaker and company, Capital Oil and Gas Limited, over an alleged N135 billion debt on December 4, 2019.

The agency had in an eight-count amended charge alleged that Ubah and his company conspired to make false claims on the actual values of assets in the consent judgement between all the parties.

AMCON also accused Ubah of blocking its attempt at retrieving the funds by frustrating the sale of a property at Banana Island in the Ikoyi area of the state.

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