Barely two days after Senator Patrick Ifeanyi Ubah joined the ruling All Progressives Congress (APC), the Federal Government has withdrawn criminal charges against him and his oil firm, Capital Oil.
Justice Nicholas Oweibo of a Federal High Court in Lagos struck out the charge filed by Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Patrick Ubah and his company, Capital Oil and Gas Limited, concerning an alleged N135 billion indebtedness.
The decision to strike out the suit followed an oral application by AMCON's Counsel, Oluwaseun Onabowu, who sought the withdrawal of the charges.
Senator Ifeanyi Ubah had been issued criminal summons when he failed to appear at a previous court sitting, and the court directed that he and his company should be arraigned on October 18 if he did not appear.
During Wednesday's proceedings, the court was informed that consent judgments had been reached in other related cases in Abuja. As a result, the court struck out the charges.
The charges against Senator Ubah and his company alleged false claims about the value of assets transferred to AMCON and obstruction of AMCON's debt realization efforts.
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