AMCON:Court strikes out charge against Ifeanyi Ubah, over Alleged N135bn debt

The Federal High Court sitting in Lagos has struck out the charge filed by the Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Ubah and his company, Capital Oil and Gas limited, over an alleged N135bn debt

Justice Nicholas Oweibo dismissed the charge following an oral application by counsel for AMCON, Oluwaseun Onabowu, seeking the withdrawal of the suit.

At the last sitting of the court on June 13, the court had directed that criminal summons be issued on Senator Ubah and his company, Capital Oil and Gas Limited.

The court gave the directive in the criminal prosecution of the Senator by the Federal Government of Nigeria on an 8-count charge bordering on his alleged indebtedness to AMCON.

At Wednesday’s proceedings, counsel for the complainant informed the court that following a consent judgement reached in a sister case which was before the court in Abuja, parties had agreed that the case against Ubah should be withdrawn in Lagos.

The counsel urged the court to strike out the charge filed against the Defendants.

Ifeoma Esom, counsel for the defendants also confirmed to the court that agreements have been reached with the complainant.

In his ruling, Justice Oweibo struck out the charge.

In its eight-count amended charge AMCON had alleged that Senator Ifeanyi Ubah and his company Capital Oil and Gas Industries Limited conspired together in making false claims.

It stated that the claims were in relation to the actual values of certain assets transferred to AMCON under a consent judgement he and his company made with AMCON.

Also, the defendants were also alleged to have obstructed AMCON in the realization of part of his outstanding debt of N135Billion by frustrating the sale of a property at Banana island, Lagos.

Tension In Uruagu Nnewi As Community Leaders Dare Soludo,Defy Court Order

The President of Uruagu-Nnewi Development Union, Chief Sunday Okoli aka Organizer, and the Obi of Uruagu-Nnewi community in Nnewi North local government area of Anambra State, His Majesty Afamefuna Charles Obi, have swept Soludo's directive to the gutters, by reason of their suspension and subsequent dessolution of the leadership of the community's youth forum, led by Ejike Ifejiofor, and subsequent appointment of caretaker executive to pilot the affairs of youths in the community. The Anambra governor had, through a letter dated August 9, 2024, signed by the Permanent Secretary, Anambra State Ministry of Youth Development, Dr. Martin Agbili, warned the community leaders to stay any action regarding suspension of the Uruagu-Nnewi youth forum. The community had, through its PG, Chief Okoli, written to the Ministry of Youths Development, notifying the ministry of "immediate suspension" of the youth group over alleged insecurity in the area. But the ministry,...

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

Federal Polytechnic Oko Holds Two-Day Recruitment Interview to Address Staff Shortages

The Federal Polytechnic, Oko, Anambra State, has begun a two-day interview exercise aimed at recruiting qualified personnel to fill vacant positions arising from staff retirements and other forms of exit from service. The exercise commenced on Tuesday at 10:00 a.m. and is being overseen by the Rector, Dr. Chioma Irene Awuzie, who personally announced the names of shortlisted candidates. Addressing the applicants, Dr. Awuzie cautioned that while many candidates were invited for the exercise, only a limited number would eventually be engaged, citing budgetary constraints facing the institution. She urged the candidates to remain patient and understanding throughout the process. According to the Rector, the recruitment exercise was structured to ensure transparency, fairness, and strict compliance with approved financial limits. Speaking with journalists at the interview venue, the Acting Registrar, Chief Dominic Nwagwu, explained that the exercise became necessary...