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The Federal High Court in Lagos has dismissed the charges brought by the Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Ubah and his company, Capital Oil and Gas Limited, in relation to an alleged N135 billion indebtedness.
The charge was struck out by Justice Nicholas Oweibo in response to an oral application made by AMCON’s counsel, Oluwaseun Onabowu, who requested the withdrawal of the lawsuit.
Notably, Senator Ifeanyi Ubah, representing Anambra South Senatorial District, was absent in court.
During the previous court session on June 13, the court had issued criminal summons against Senator Ifeanyi Ubah and his company, Capital Oil and Gas Limited.
This action was part of the Federal Government of Nigeria’s criminal prosecution of the Senator, involving an 8-count charge related to his alleged indebtedness to AMCON.
In today’s proceedings, the complainant’s counsel informed the court that, as a result of a consent judgment reached in a related case pending in the Federal Capital Territory court in Abuja, the parties had agreed to withdraw the case against the Senator in Lagos. The counsel urged the court to dismiss the charges filed against the Defendants.
Mrs. Ifeoma Esom, counsel for the defendants, confirmed in court that agreements had indeed been reached with the complainant.
In his ruling, Justice Oweibo officially struck out the charges.
