The federal government has filed a suit against Ifeanyi Ubah, senator, representing Anambra south, over alleged false claims and indebtedness of N135 billion to the Asset Management Corporation of Nigeria.
The lawmaker was supposed to be arraigned on Wednesday at a federal high court in Lagos, but his case was adjourned till February 2020 over his absence.
Olisa Agbakoba, counsel to Ubah, told the court that his client has not been served with the charge, adding that there is an ongoing mediation to settle the case out of court “since it is all about money”.
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One of the charges reads: ”COUNT 1, That you, Ifeanyi Patrick Ubah, and Capital Oil and Gas Industries Limited, sometime between 2012 and 2018, conspired 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).”