Today's Date:- Thu. 27 Feb, 2020. ADVERTISE CONTACT US

Search For Anything Below...

Court To Begin Ifeanyi Ubah’s N135bn Debt Trial On April 2

The Federal High Court in Lagos has further adjourned till April 2 the arraignment of Ifeanyi Ubah and his Capital Oil and Gas Industries Limited over an indebtedness of N135 bn to the Asset Management Corporation of Nigeria .

The scheduled arraignment before Justice Nicholas Oweibo could not go on Thursday as Ubah was absent from court .

The counsel for the Federal Government , Kunle Adegoke , told the judge that the prosecution was having difficulty serving the charge sheet on Ubah , alleging that the businessman was evading service .

Adegoke applied for a court order to serve the charge sheet on Ubah through his lawyer , Dr Olisa Agbakoba ( SAN ) .

Justice Oweibo granted the prayer and adjourned till April 2 for Ubah ’ s arraignment .

In the charges , the prosecution said the N135 bn emanated from a July 2013 consent judgment between Capital Oil and Gas Industries Limited and AMCON but accused Ubah of frustrating AMCON ’ s efforts to recover the judgment debt .

The prosecution alleged that in a bid to defeat the realisation of the judgment credit , Ubah and Capital Oil “ 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 . ”

The prosecution alleged that they “ did obstruct the implementation of the provisions of the AMCON Act vis -a -vis the realisation of part of your outstanding debt of N135 bn by frustrating the sale of the landed property on Banana Island to Dayspring Development Company Limited , which property you both transferred to AMCON by virtue of the consent judgment delivered by this honourable court on the 1 st day of July , 2013 . ”

The defendants were said to have acted contrary to Section 54 ( 5 ) of the Asset Management Corporation of Nigeria Act , 2010 ( as amended ) .

Source:- Punchng

We make sure we keep you updated with all Latest Songs, News, Trending Gists, & lots more here on Naijafinix.com. Don't forget to Check back later, for more updates... or Kindly Call Us Now to request any song of your choice!!!

CLICK HERE TO COMMENT ON THIS POST

Naijafinix Official Contacts Below;
Call Us On:- +2348133393353 OR
WhatsApp Us Now:- CLICK HERE TO CHAT

TODAY'S TRENDING UPDATES
             
“President Buhari, Why Are You Heartless?” – Aisha Yesufu Asks Over Zamfara Killings
           
             
Federal Government To Increase NYSC Corpers Allowance – DG
           
             
I Won’t Campaign For Atiku And Others – Obasanjo
           
             
Lagos Explosion: See How Petrol Tankers Move In Canada And Abidjan
           

For All Latest Nigerian Songs CLICK HERE


NAIJAFINIX TRENDING DOWNLOADS

SWIPE LEFT TO VIEW MORE SONGS >>>
 

comment closed


POPULAR RELATED POSTS
             
Two Companies Linked To Tinubu, Ambode’s Aide To Collect Land Use Charge
           
             
Troops Kill Suspected Kidnappers, Rescue 31 Victims In Kaduna
           
             
GTBank Clarifies ‘Fake’ News Regarding Innoson
           
             
Photo Of One Of The NDLEA Officers Killed By Gunmen At Checkpoint In Ondo
           
             
Police In Oyo To Impound Vehicles With Sirens, Spy And Covered Number Plates
           
             
12-Year-Old Girl Terrorizing Abia Community Nabbed By Villagers (Photos)
           

Music

Go Back To The Top

SPONSORED AD-POST LINKS
FEATURED MUSIC OF THE WEEK
REMA FT RVSSIAN - BEAMER
        
MODEL FACE OF THE WEEK
Meet Oma B. (The Pastry Chef)
        

© 2017-2020 Naijafinix. All Rights Reserved.


                                   

About us || Content Removal & DMCA || Privacy Policy

Naijafinix is not responsible for any external links.