How Senator Ifeanyi Ubah Survived Fraud Charge, Lost Governorship Bid

Senator Ifeanyi Ubah survived a fraud charge and lost the governorship bid in Anambra State.

 

NewsOnline Nigeria had earlier reported that the Senator representing Anambra South Senatorial District at the National Assembly, Ifeanyi Ubah, died at 52.

Ubah, who was the Chief Executive Officer of Capital Oil, died in a hospital in London, the United Kingdom, on Saturday.

The late lawmaker was a ruling All Progressives Congress member and a renowned businessman.

ALSO: How Senator Ifeanyi Ubah Escaped Death In Anambra But Died In London

In this article, NewsOnline Nigeria looks at the fraud charge levelled against Ubah by the Federal Government, which was later dismissed, and his failed governorship bid.

Dismissed fraud charge

In December 2019, the Federal Government filed a criminal charge against Ubah and his company, Capital Oil, for alleged false claims and debt of N135bn to the Asset Management Corporation of Nigeria.

This led to the Federal High Court in Lagos, on June 13, 2023, directing that criminal summons be issued to the senator and his company.

The order was given on an eight-count charge bordering on his alleged indebtedness to AMCON.

According to the debt-recovery agency, Ubah and Capital Oil allegedly conspired to make false claims about the actual values of certain assets transferred to AMCON under a consent judgment he and his company made with AMCON.

The defendants were also alleged to have obstructed AMCON in the realisation of part of his outstanding debt of N135 billion by frustrating the sale of a property at Banana Island, Lagos.

However, on October 8, 2023, AMCON, on behalf of the Federal Government, withdrew the charges filed against Ubah and his firm.

The case against the senator was withdrawn after both parties reached agreements, and a consent judgment was reached in a sister case before the Federal Capital Territory court in Abuja.

Failed governorship bid

 

Ubah contested the 2014 Anambra governorship election on the platform of the Labour Party but lost the race to Willie Obiano of the All Progressives Grand Alliance.

On February 24, 2019, he defected to the Young Progressive Party and was declared the winner of the Anambra South Senatorial election on the platform of the party. He won his re-election into the Senate on February 28, 2023.

However, the Anambra senator defected to Nigeria’s ruling party, the APC, on Oct 12, 2023.

The late lawmaker declared interest in contesting the 2025 Anambra governorship election.

A few days ago, Ubah and his campaign council donated N71m to APC in the state to bolster the party’s presence and strength ahead of the election.