N135bn Debt: Court Orders Assets Corporation, AMCON To Serve Senator Ubah Charge Through Clerk Of National Assembly

An order mandating the Assets Management Corporation of Nigeria (AMCON) prosecutor, Babatunde Lawal, to either paste the charge filed against Ifeanyi Patrick Ubah and his company Capital Oil and Gas Industries at his residence or to serve him the charge through the Clerk of the National Assembly has been granted.
A Federal High Court, Ikoyi, Lagos which granted the order on Friday was sequel to an application filed and argued before the court by Mr. Babatunde Lawal that, it has been very difficult to personally serve Ubah a copy of the charge, and that consequently it was necessary to obtain the order of the court to serve the defendant a copy of the charge, either by pasting it at his residence with the assistant of the Nigerian Police Force, or serve him through the clerk of National Assembly.

The presiding Judge, Justice Nicholas Oweibo, while acceding to the request of the of the AMCON prosecutor, said the defendant can be served either by pasting the charge at his residence or through the clerk of the National Assembly.
However, AMCON prosecutor has filed 8 count amended charges before the court to replace the initial four count charge filed before the court
Thereafter, based on the agreement of AMCON Prosecutor, Babatunde Lawal and Jane Okocha representing Capital Oil and Gas Industries, Justice Oweibo adjourned till 24th of May, 2022 for arraignment.
It was alleged in the Amended eight-count charges filed before the court that Ubah and his company Capital Oil and Gas Industries Limited sometimes between 2012 and 2018, conspired in making false claims in relation to the actual values of certain assets transferred to AMCON under a consent judgment he and his company made with AMCON.
Ubah and his company were also alleged to have obstructed AMCON in the implementation of the provision of the AMCON Act in realisation of part of his outstanding debt of N135billion by frustrating the sale of property at Banana Island.
The prosecutor also alleged that Ubah lied in respect of the actual values of the assets he listed in the terms of settlement and offered in partial payment of the debts of Capital Oil and Gas Industries limited
The charge as stated in the amended charge number FHC/L383C2019.

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