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ALLEGED N135BN FRAUD: Sen Ubah absent as trial begins

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Ifeanyi Ubah risks death row for allegedly diverting N11bn PMS, DSS says

The trial of the Chairman of Capital Oil and Gas Limited, Senator Ifeanyi Ubah, for alleged N135 billion fraud at the Federal High Court, Lagos, was stalled on Wednesday due to absence of the senator.

Ubah was arraigned alongside his company – Capital Oil and Gas Limited – by the Federal Government on charges of fraud.

When the matter came up, lawyer to the federal government, Korede Adegoke, told the court a four counts- charge was filed against the defendants and urged the court to accept same for the purposes of plea.

When the matter was called, the defendant’s counsel, Olisa Agbakoba (SAN) told justice Nicolas Oweibo, that his client has not been served with the charge.

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Agbakoba said talks are ongoing between Ubah and the federal government for an out-of-court settlement.

The counsel for Capital Oil, Ajibola Oluyede, confirmed that his client has been served with the charge.

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

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