By Onyewuchi Ojinnaka
The scheduled arraignment of a Senator Ifeanyi Uba, Chairman of Capital Oil and Gas Limited before a Federal High Court sitting in Ikoyi Lagos, Nigeria on Wednesday could not hold due to the absence of the embattled senator.
When the matter was mentioned for arraignment before Justice Nicolaus Oweibo, lawyer to the Federal government Mr Korede Adegoke informed the court of a pending four counts charge preferred against the defendants and urged the court to accept same for the purposes of plea.
But the arraignment could not go on before Justice Oweibo as Ubah’s lawyer, Dr Olisa Agbakoba (SAN) told the court 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 the matter is all about money.
Counsel to the 2nd defendant, Capital Oil and Gas Limited, Ajibola Oluyede on his part confirmed 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 Adegoke submitted that if the defendant is trying to avoid court proceedings, he would not hesitate to ask for arrest warrant to enable the prosecution produce him in court.
In a short ruling Justice Oweibo said that whereas “the prosecution failed to produce the defendant in court today, this case stands adjourned. Accordingly this case is adjourned to 13th of February, 2020”, he ruled.
The charge against Senator Ubah read:
COUNT 1
“That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018, conspired together 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).
COUNT 2
“That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometimes between 2012 and 2018, made false claims in relation to the actual values of certain assets transferred to AMCON under the Consent Judgment delivered in Suit No. FHC/ABJ/CS/714/2012 on the 1st day of July, 2013 and which assets were transferred in partial payment of the outstanding indebtedness of Capital Oil and Gas Industries Limited to AMCON with a view to defeating the realisation of the judgment debt of Capital Oil and Gas Industries Limited to AMCON then standing in the sum of N135 billion contrary to Section 54(1)(a) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
COUNT 3
“That you, Ifeanyl 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, wilfully 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 owed to AMCON contrary to Section 54(2) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).
COUNT 4
“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, did obstruct the implementation of the provisions of the AMCON Act vis-a-vis the realisation of part of your outstanding debt of N135 billion 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).