<https://leadership.ng/2020/02/13/n135bn-fraud-court-fixed-april-2-for-arraignment-of-ifeanyi-ubah/#newsarticle>
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"A Federal High Court in Lagos Thursday fixed April 2 for the arraignment of  the chairman of Capital oil and Gas Limited, Senator Ifeanyi Ubah and his company for N135 billion fraud.    The trial judge, Justice Nicholas Oweibo fixed the date following the absence of the defendants in court for the second time since the charge was filed by the federal government.    At the resumed hearing of the matter on Thursday, the prosecutor, Kunle Adegoke in an exparte application filed and argued before the court urged the court to grant an order for the service of the charge sheet through the bailiff of the court on Ifeanyi Patrick Uba by serving same charge on him through his legal representative to wit, Dr. Olisa Agbakoba (SAN).    In an affidavit sworn to by one, Haleemah Adegoke, the government averred that the bailiff of the court told her that, he took steps to effect service of the charge on Ubah personally in December, 2019 at the registered office of Capital Oil and Gas Industries Limited, but he was unable to serve him personally.    \"Since then he has been evading service.    \"On the 4th day of December, when the defendant was expectedly absent to take his plea in court, Agbakoba announced his appearance for him and also informed the court that his client was yet to be served.    \"Consequently, based on the forgoing it is now imperative that he should be served with a copy of the charge by means to wit, through his counsel, Agbakoba whose appearance in court necessarily suggests that he is well informed of the charges against him notwithstanding that he has not been served personally.    \"In a short ruling, Justice Oweibo acceding to the request of the prosecutor.    He ordered that Uba should be served though his counsel and adjourned April 2 for arraignment of Ifeanyi Uba and his company, by that time he must have been served.    However, before the adjournment counsel representing Capital oil and Gas Limited, Ajibola Oluyede, told the court that, there is an on -going process for amicable settlement of the matter.    Dr. Agbakoba was not in court today, but a lawyer from his chamber, Mr Frank Ideho appeared for Ifeanyi Uba.    The charge against Uba and his company:    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 but standing 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 limited 0to AMCON then standing in the sum of 135 Billion Naira contrary to Section S4(1)(a) of the Asset Management Corporation of Nigeria Act, 2010 (as amended).    COUNT 3    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, wilfully 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-a-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).\"    &nbsp;"
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