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UNDERSTANDING THE FRUSTRATIONS OF AN OUTGOING SENATOR – PART 6.

By Ezeani Chukwunonso Elvis

The straws have fallen off the eyes of Ndi Anambra and all can now see that the narrative of the YPP being “the true Igbo party” sold by outgoing senator Ifeanyi Ubah few months to the November 2021 gubernatorial election was a scam.

Also, it can now be clearly seen that the pretentious offer of care and concern of outgoing senator Ifeanyi Ubah to Mazi Nnamdi Kanu was actually a PR stunt created to ramp up support from Ndi Anambra as means of resuscitating His dead political fortune because, He has never appeared in court as show of solidarity for Kanu since He lost His bid to be governor in November 2021.

Ndi Anambra therefore deserve accolades for rejecting outgoing senator Patrick Ifeanyi Ubah at the last gubernatorial election; the exact way He has been consistently rejected since 2014 until in 2019 when the magnanimity of Dr. Cletus Madubugwu Ibeto; CON made Him senator.

UNDERSTANDING THE FRUSTRATIONS OF AN OUTGOING SENATOR. Part 1

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Nevertheless, this time around, there is a consensus from Ndi Anambra South to correct the grave error of 2019 with even a stronger consensus to never again avail any individual a position of public trust on companionate grounds.

Already, a political war is quietly raging in Anambra South and it would appear to close lookers that the embattled senator who is presently fighting the most intense political battle of His life has finally discarded “the true Igbo party” in preference for a new political alliance with the Peoples’ Democratic Party as a strategy for self preservation.

Not only is this alliance selfish and deceitfully packaged to serve the interests of the outgoing senator who is disgruntled at His shrinking relevance in Anambra South, it is designed to extend His stay in government bearing in mind the ongoing criminal proceedings against Him.

It is against this background that Ndi Anambra South deserves to be educated on the latest criminal charges brought against the outgoing senator by the Federal Government of Nigeria for His complicity in fraud. Simply put, outgoing senator Ifeanyi Ubah is currently standing trail for criminality. According to His charge sheet with amended charge number FHC/L383C2019 as obtained from ThisDay Newspaper dated March 5th 2022, the crux of the matter are:

“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 honorable Court, 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/L/CS/714/2012 – AMCON v. Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah 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 realization of the said judgment debt of Capital Oil and Gas Industries Limited to AMCON then standing in the sum of 135Billion Naira contrary to Section 54(1)(a) and (d) of the Asset Management Corporation of Nigeria Act, 2010 (as amended) and punishable under the same section of the Act.

UNDERSTANDING THE FRUSTRATIONS OF AN OUTGOING SENATOR – PART 2.

“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 honorable Court, made 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/L/CS/714/2012 AMCON V.Capital Oil and Gas industries & Mr. Ifeanyi Patrick Ubah on the 1st day of July 2013 and which assets were transferred in partial payment of the Asset.

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“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 honorable 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/L/CS/714/2012 -AMCON v. Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah 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) and punishable under the same section of the Act.

“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 honorable did obstruct the implementation of the provisions of the AMCON Act vis-a-vis the realization of part of your outstanding debt of 135 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 consent judgment delivered by this honorable court on the 1st day of July 2013 in suit No FHC/CS/714/2012-AMCON V Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah and which act is contrary to Section Sa(5)of the Asset Management Corporation of Nigeria Act, 2010 (as amended) and punishable under the same section of the Act.

UNDERSTANDING THE FRUSTRATIONS OF AN OUTGOING SENATOR – PART 3.

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“That you, Ifeanyi Patrick Ubah and Capital Oil and Gas Industries Limited sometimes between 2011 and 2019 in Nigeria and within the jurisdiction of this honorable Court, being mortgagors of properties listed In the Consent Judgment of this honorable Court in Suit No. FHC/L/CS/714/2012 – AMCON V. Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah, with intent to induce Asset Management Corporation of Nigeria (AMCON) to accept the title offered with respect to the said properties and with intention to defraud, concealed from the said AMCON instruments material to titles to the said properties which you subsequently failed to produce and thereby committed an offence contrary to Section 423 of the Criminal Code Act and punishable under the same section of the Act.

“That you Ifeanyi Patrick Ubah and Capital Oil and Gas industries between 2011 and 2019 in Nigeria and within the jurisdiction of this honorable court being mortgagors of properties listed in the consent judgment of this honorable court in FHC/L/CS/714/2012 -AMCON V. Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah, at the time of negotiating the said consent judgment, with intent to defraud and induce Asset Management Corporation of Nigeria (AMCON) to accept the titles offered with respect to the properties, made false statements and concealed from the said AMCON existing mortgages and encumbrances already created in favor of Aso savings & Loan limited in respect of the property which later became subject matter in Appeal No.CA/A/468/2016-Aso Savings & Loan & Maharishi Nigeria Ltd v AMCON, Capital Oil &Gas Industries & Ifeanyi Ubah and thereby committed an offence contrary to section 423 of the criminal code Act and punishable under the same section of the Act.

UNDERSTANDING THE FRUSTRATIONS OF AN OUTGOING SENATOR – PART 4.

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“That you, Ifeanyi Patrick Ubah, being a director of Capital Oil and Gas Industries Limited sometimes between 2011 and 2019 in Nigeria and within the jurisdiction of this honorable Court made and published terms of settlement which later became the Consent Judgment of this honorable Court In Suit No FHC/L/CS/714/2012 – AMCON v. Capital Oil and Gas Industries Limited & Mr. Ifeanyi Patrick Ubah and with respect to the actual values of the assets you listed in the said terms of settlement and offered in partial payment of the debts of Capital Oil and Gas Industries Limited which statement you knew to be false but did so with the intent to defraud Asset Management Corporation of Nigeria to enter Into a Restructuring Agreement and thereby committed an offence contrary to Section 436 of the Criminal Code Act, Cap. C38 of the Laws of the Federation of Nigeria, 2004 and punishable under the same section of the Act.’’

Considering the above, it is clear that outgoing senator Ifeanyi Ubah is hanging on a dangerous balance.

With a political career that is coming to an end in less than 12 months, the way forward may just be for the outgoing senator to put himself forward to relevant authorities, file for bankruptcy, obtain a government gazette as a certified bankrupt and retire to His uncompleted Nnewi “Governors Lodge”.

 

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