Alleged N135bn Fraud: FG Files Charges Against Ifeanyi Ubah, Capital Oil & Gas Limited

Ubah Accuses PDP Of Injustice, Says 'I Have Not Gained Anything'
Senator Ifeanyi Ubah

 

The Federal Government has filed criminal charges against Senator Ifeanyi Patrick Ubah and his company, Capital Oil and Gas Limited.

The charges, filed before the Federal High Court in Lagos, are related to an alleged N135 billion fraud.

Lawyer to the Federal Government, Mr. Korede Adegoke, on Wednesday informed the court of four pending charges pressed against the defendants and urged the court to accept the charges for the purpose of taking their plea.

In the first charge, the prosecution accused Senator Ubah and his company of conspiring together, sometime between 2012 and 2018, “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)”.

The second charge held that the defendants “made false claims in relation to the actual values of certain assets transferred to AMCON” under the consent judgment, contrary to Section 54(1)(a) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).

The third charge read, “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, being guarantor and debtor respectively, negligently, willfully 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 Naira owed to AMCON contrary to Section 54(2) of the Asset Management Corporation of Nigeria Act, 2010 (as amended)”.

In the fourth charge, the defendants were accused of  obstructing the implementation of the provisions of the AMCON Act “vis-é-vis the realisation of part of your outstanding debt of N135 Billion Naira _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)”.

The arraignment of the defendants before Justice Nicolas Oweibo was however stalled, as Ubah’s lawyer, Olisa Agbakoba (SAN), said his client had not been served with the charges.

Agbakoba also informed the court that a mediation move was ongoing to settle the case out of court.

Counsel to the second defendant, Capital Oil and Gas Limited, Ajibola Oluyede, on his part, confirmed that his client had been served.

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

In response, the prosecution counsel said he would not hesitate to ask the court for a warrant of arrest for Senator Ubah if he was trying to avoid court proceedings.

After listening to lawyers for the parties involved, Justice Oweibo, adjourned the case since the prosecution had failed to produce the defendant in court.

He adjourned the case till February 13, 2020.

 

Read the full charges below:

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 butstanding 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 lelted to AMCON then standing in the sum of 135 Billion Naira 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, willfully 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 Naira 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-é-vis the realisation of part of your outstanding debt of N135 Billion Naira _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).

Gunmen Attack FC Ifeanyi Ubah Players In Kogi

 

Suspected armed robbers have attacked the players and members of the coaching crew of FC Ifeanyi Ubah (FCIU).

The Anambra-based team came under attack by gunmen dressed in National Youth Service Corps uniforms on Friday afternoon in Kogi State.

A statement from the management of FCIU explained that the team were on their way to Kano for their Nigerian Professional Football League (NPFL) match against Jigawa Golden Stars before the incident occurred.

“This is to inform the general public that at about 1:30pm today, players of FC Ifeanyi Ubah (Anambra Warriors) who were travelling to Kano for their scheduled NPFL matchday 6 fixture against Jigawa Golden Stars ran into a group of armed robbers dressed in NYSC uniforms, operating at Kabba junction, near Lokoja in Kogi state,” said.

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Although no life was lost in the attack, the driver of the bus was said to have been shot with some members of the coaching crew and players critically injured.

The injured persons were already being treated and were responding to treatment at a medical facility.

The club’s management called on the Federal Government and football regulatory bodies in the country – Nigeria Football Federation (NFF) and the League Management Company (LMC) – to intensify security efforts.

They asked the government to ensure the safety of teams who often have no choice than to travel long distances by road, especially clubs owned by private investors for the growth and development of football in Nigeria.

The club also urged its fans, well-wishers, and Nigerians in general to keep the entire management, coaching staff and players of FC Ifeanyi Ubah in their prayers.

See photos below:

Anambra South: Appeal Court Upholds Ifeanyi Ubah’s Election

A file photo of Senator Ifeanyi Ubah.

 

 

The Court of Appeal sitting in Enugu State has affirmed the election of Senator Ifeanyi Ubah as the lawmaker representing Anambra South district in the National Assembly.

In a lead judgment delivered on Tuesday by Justice Ibrahim Saulawa, the appellate court upheld the decision of the National Assembly Election Petitions Tribunal.

It, therefore, dismissed the appeals of Mr Chris Uba of the Peoples Democratic Party (PDP) and Senator Andy Uba of the All Progressives Congress (APC) for lacking merit.

In his reaction, Senator Ubah who contested the election on the platform of the Young Progressive Party (YPP) commended the judgement.

He said it was a clear indication that the third arm of government was the last hope of the common man, Anambra South, and Nigeria at large.

READ ALSO: EFCC Witness Testifies Against Fani-Kayode, Others In Alleged N4.6bn Money Laundering Case

The lawmaker commended the judiciary for rising up to its solemn responsibility of ensuring that justice prevailed without fear, favour, or prejudice.

He also appreciated the disposition of Mr Nicholas Ukachukwu of All Progressives Grand Alliance (APGA), who accepted the election result in good faith and opted to respect the will of the people.

Senator Ubah, however, stretched a hand of fellowship to Mr Uba, Senator Uba, and Mr Ukachukwu, as well as urged them and the electorate to join hands with him to actualise the task of rebuilding and developing Anambra South Senatorial zone.

On the other hand, the APGA member representing Idemili North and South Federal Constituency in the House of Representatives, Mr Ifeanyi Ibezi, lost to Mr Obinna Chidoka of the PDP.

Tribunal Dismisses Chris And Andy Uba’s Petition, Upholds Ifeanyi Ubah’s Victory

 

The Election Petitions Tribunal sitting in Awka, Anambra State on Monday upheld the victory of Senator Ifeanyi Ubah in the February 23rd National Assembly election, thereby dismissing the consolidated petitions of both Chris Uba of the Peoples Democratic Party (PDP) and Andy Uba of the All Progressives Congress (APC).

The Tribunal’s ruling dismissed Chris and Andy Uba’s petition on the basis that it it was lacking in merit.

Reacting to the ruling, Senator Ifeanyi Ubah in a communique on Monday said the verdict in his favour is an attestation of both “the perfect will of God and the irrefutable choice of the good people of Anambra South at the February 23 polls”.

READ ALSO: My Mandate Will Be Restored, Kalu Reacts To Tribunal’s Judgement

Senator Ubah also stated that the ruling reinforces the confidence that the people have in the judiciary.

The lawmaker further stressed that his victory is a good development for the advancement of democracy in Nigeria, adding that the judiciary has shown it is indeed the last hope for all.

He dedicate the victory to God, his wife, children and to his party.

Ninth Assembly: APC Governors Meet Ahead Of Inauguration

National Assembly Must Reconvene Immediately APC
National Assembly Complex (file)

 

Ahead of the inauguration of the ninth National Assembly billed for Tuesday the 11th of June, Governors of the ruling All Progressives Congress APC as-well-as the party’s National Working Committee NWC are currently meeting in Abuja with the APC caucus of the incoming National Assembly.

The meeting holding behind closed doors is also being attended by a stalwart of the Young Progressives Party (YPP), Mr. Ifeanyi Ubah who is a Senator-elect.

This is the second meeting held by the APC governors forum this week, ahead of the inauguration of the ninth national assembly billed for Tuesday the 11th of June.

The progressive governors’ forum met yesterday in Abuja where they endorsed the choice of Senator Ahmed Lawan for the position of Senate president.

The chairman of the forum, governor Atiku Bagudu of Kebbi state explained that their decision was aimed at ensuring that the partys decision is not jettisoned by lawmakers elected under the APC platform.

BREAKING: YPP’s Ifeanyi Ubah Beats Uba Brothers, Wins Anambra South Senatorial Election

 

MrIfeanyi Ubah, the chairman of Capital Oil and Gas Limited, has emerged winner of the Anambra South Senatorial district election.

Ubah who ran under the platform of the Young Progressive Party (YPP), polled  87,081 votes beating his closest rival, Mr. Chris Uba of the Peoples Democratic Party (PDP) and his younger brother the incumbent Senator for the area, Sen. Andy Uba.

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Chris Uba and his brother Andy Uba polled 52,462 and 13,245 respectively.

The candidate of the All Progressives Grand Alliance (APGA) also took part in the election for the district, scoring 51,269.

Peter Obi Was My Junior In School, He Calls Me Senior – Obaze

Mr Osekola Obaze

Winner of the Peoples Democratic Party (PDP) primary for the November 18 governorship election in Anambra State, Mr Oseloka Obaze, has dismissed claims that former governor, Peter Obi, is his political godfather.

Obaze who was the Secretary to the State Government under the administration of Mr Obi says contrary to such claims which border on “semantics”, the former governor refers to him as “Senior”.

“Peter Obi was my junior in school. He got into school as I was leaving. As I sit here, (if) Peter Obi walks into here, he addresses me as “Senior”. He has never called me by my first name,” Obaze told Seun Okinbaloye when he appeared on Channels Television’s Sunday Politics.

Although Mr Obi was his boss while he was SSG, both men have known each other for years.

“It’s a childhood friendship between families that has run for the better part of 40 years. We know each other. When he was governor, until I became his SSG, I don’t think I even visited his office once. I was at the United Nations. When he came to me to look for me to become his SSG, it took him a whole year to convince me. I had a better job; I was not looking for a day job,” Mr Obaze added.

The governorship aspirant faulted the thinking of those behind the claims, arguing that in politics, all walks of life, everybody has an individual that supports them as a mentor, brother, colleague and so on.

He added, “So, in this business, Alex Ekwueme, I have known since childhood. He was the former vice president of this country. I have known him since I was seven. When I started this business of running for this office, I went to consult him. So, why don’t they see him as my Godfather?”

Mr Obaze’s emergence as the winner of the PDP primary for the Anambra governorship election has generated controversy with some aspirants claiming he was imposed on the party.

He polled 672 votes, his closest rival Dr Alex Obiogbolu got 190 votes, while Capital Oil boss Mr Ifeanyi Ubah polled 94 votes, according to the results announced by the Governor of Ebonyi State, Mr Dave Umahi, who supervised the poll.

But Mr Ubah has rejected the outcome and intends to seek redress in court. Mr Ubah, who also appeared on Channels Television’s Sunday Politics, argued that Mr Obaze was not qualified to contest in the primary in the first case.

Mr Obaze, however, denied the claims, saying he “certainly” met the requirement to contest in the primary.

On claims that he got a provisional waiver, Mr Obaze said, “No, I got a provisional clearance and, subsequently, I got a waiver from the National Caretaker Committee.”

He added, “You have the National Working Committee and you have the NEC that is the whole body. When they are not in full session, the Working Committee takes care of business. But the waiver was duly given.

He also rejected claims that he was imposed on the party, saying it is a matter of perception.

“The process was clear, due process. The primary was conducted transparently on national television. So, I don’t understand where this is coming from. I don’t want to ascribe labels to people who are sore losers but that seems to be the case.”

Ifeanyi Ubah To Sue PDP Over Anambra Governorship Primary

The Managing Director of Capital Oil, Mr Ifeanyi Ubah, says he will “definitely” challenge the result of the Peoples Democratic Party’s primary for the Anambra governorship primary.

Mr Ubah said this when he and his lawyer, Mr Oluyede Ajibola, appeared on Channels Television’s Sunday Politics.

A former Secretary to the Anambra State Government, Mr Oseloka Obaze, was declared the winner of the primary, which was held in August.

Mr Obaze polled 672 votes, his closest rival Dr Alex Obiogbolu got 190 votes while Mr Ubah polled 94 votes, according to the results announced by the Governor of Ebonyi State, Mr Dave Umahi, who supervised the poll.

But Mr Ubah has said Obaze, who served as SSG under former Governor Peter Obi and incumbent governor Willie Obiano, should not have been allowed to contest in the first case.

Beyond that, he alleged that the delegates list used for the primary is different from the certified true copy he got from the Independent National Electoral Commission.

Asked why he was unhappy with the outcome of the primary, he said, “The primary (reason) is that Mr Oseloka Obaze did not even qualify ab initio to be part of the contest. He didn’t have the requisite waiver from the party.”

Mr Ubah, who said the National Executive Council is the only organ of the party that can give a waiver, explained that the PDP’s NEC couldn’t have given Mr Obaze a waiver.

The Capital Oil boss said, “He (Obaze) granted an interview to the press in February this year that he doesn’t even know the party he is going to use to contest the election. That is almost six months ago. And the party’s constitution stipulates that it must be two years. He didn’t have it (the waiver).

“We had screening on the 9th and 10th of August. There was a NEC meeting on the 11th and that is the last NEC meeting till date. So, NEC did not give any waiver. There was no mentioning of waiver. So, how did he come in to be part of the primary? These are the technicalities, the deficiencies and the politics that the party continue to impose somebody.”

Mr Obaze, who also appeared on Sunday Politics, denied the claims, saying he “certainly” met the requirement to contest in the primary.

On claims that he got a provisional waiver, Mr Obaze said, “No, I got a provisional clearance and, subsequently, I got a waiver from the National Caretaker Committee.”

He added, “You have the National Working Committee and you have the NEC that is the whole body. When they are not in full session, the Working Committee takes care of business. But the waiver was duly given.

He also rejected claims that he was imposed on the party, saying it is a matter of perception.

“The process was clear, due process. The primary was conducted transparently on national television. So, I don’t understand where this is coming from. I don’t want to ascribe labels to people who are sore losers but that seems to be the case.”

PDP Suspends Ubah, Refers Kashamu To Disciplinary Committee

PDP Suspends Ubah, Refers Kashamu To Disciplinary Committee

The National Caretaker Committee of the Peoples Democratic Party (PDP) has suspended the Managing Director of Capital Oil and Gas Limited, Dr Ifeanyi Ubah.

The Party also referred the senator representing Ogun East, Buruji Kashamu, to it disciplinary committee over allegations of anti-party activities.

The PDP announced Ubah’s suspension on Thursday over what they described as “disparaging and unfounded” allegations against some party members and elders.

According to them, the business mogul made several allegations against the party over which he was queried while expressing his dissatisfaction with the decisions of the PDP leadership on the report of the Anambra Governorship Appeal Panel which affirmed the election of Honourable Oseloka Obaze.

The party, however, said the matter has been referred to the National Disciplinary Committee for further action.

In the same vein, the PDP also queried Senator Kashamu for his alleged involvement in some issues in the Ogun State chapter of the party.

Senator Kashamu’s matter has also been referred to the National Disciplinary Committee of the party for further action.

The committee has been asked to report back to the PDP leadership in two weeks.

Ifeanyi Ubah F.C. Involved In Car Crash

Six members of Ifeanyi Ubah football team have sustained varying degrees of injury after the bus conveying the players had a head-on collision with a passenger cab, which was overloaded.

The accident occurred on Friday morning when the team players and some officials were heading to Ijebu Ode for the NPFL Matchday 36 fixture with Sunshine Stars, set to hold on Sunday, 3rd of September, 2017.

The Chairman of the club, Mr Chukwuma Ubah in a statement released on Friday morning confirmed the accident.

He said, “Sequel to the reports making the rounds this morning. We wish to confirm that FC IfeanyiUbah team bus conveying players and officials was involved in a car accident along Benin/Ore expressway while on our way to Ijebu Ode to honour the NPFL Matchday 36 fixture with Sunshine Stars billed for this Sunday, 3rd of September, 2017.

“Six of our players sustained varying degree of injuries and two that are unconscious hitherto have regained consciousness and are receiving treatment presently at the closest medical facility near the site of the accident.

“We wish to express our felicitations for your concern, support, outpour of emotions, deepest thoughts and prayers at this sad times,” the statement said.

“More details as regards if we would be able to honour the match on Sunday or not will be made known shortly.”

Courts Give Contradictory Orders On Ifeanyi Ubah’s Detention

Managing Director of Capital Oil and Gas Industries Limited, Ifeanyi Ubah

The legal tussle between the Department of State Security and the Managing Director of Capital Oil and Gas Limited, Mr Ifeanyi Ubah, continued on Thursday with two courts giving conflicting orders on the matter.

In a ruling in Lagos, Justice Mohammed Idris of the Federal High Court in Ikoyi ordered the DSS to release Mr Ubah unconditionally within 48 hours.

Justice Idris gave the order in his ruling on an ex-parte application filed before the court by Mr Ubah following his arrest by the DSS.

In the judgment to enforce his fundamental rights, Justice Idris held that Mr Ubah’s detention without charge violated his rights to move freely.

The judge also urged the Federal Govt to build a culture of accountability and respect for the rule of law and the Constitution.

He directed the Attorney-General of the Federation, Mr Abubakar Malami, to ensure strict and due compliance with the judgment. 

However, minutes after, the High Court of the Federal Capital Territory sitting in Jabi in a separate ruling granted a contradictory order for the Department of State Services to further detain the Managing Director of Capital Oil Plc for 14 more days.

Justice Yusuf Halilu gave the order while ruling on an ex-parte application filed by the DSS, which claimed it had yet to conclude its investigation into the case.

The DSS arrested Mr Ubah early in May, accusing him of engaging in acts of economic sabotage including the illegal sale of N11bn worth of petroleum products stored in his tank farm by the Nigerian National Petroleum Corporation, NNPC.

Mr Ubah’s lawyers, however, said that his detention cannot be in perpetuity and the DSS risk been in contempt of court if it fails to release Mr Ubah

Meanwhile, Members of Staff of Capital Oil and Gas have cried out to the government to ensure his release so as to save the jobs of over 2,000 workers. 

 

Another Court Okays Further Detention of Ifeanyi Ubah

The Managing Director of Capital Oil and Gas Industries Limited, Ifeanyi Ubah

The High Court of the Federal Capital Territory sitting in Jabi has granted an order for the Department of State Services to further detain the Managing Director of Capital Oil Plc for 14 more days.

Justice Yusuf Halilu gave the order on Thursday while ruling on an ex-parte application filed by the DSS, which claimed it had yet to conclude its investigation into the case.

The DSS arrested Mr Ubah early in May, accusing him of engaging in acts of economic sabotage including the illegal sale of petroleum products stored in his tank farm by the Nigerian National Petroleum Corporation, NNPC.

Justice Halilu’s ruling, however, contradicts that of Justice Mohammed Idris of the Federal High Court in Lagos.

Justice Idris had in his ruling, also on Thursday, ordered the DSS to release the Capital Oil boss unconditionally within 48 hours.

Justice Idris gave the order after granting an ex-parte application filed by Mr Ubah, asking the court to compel the DSS to release.

Mr Ubah said in his statement that his detention was unlawful.