A Nigerian Federal High Court sitting in Lagos, the commercial capital city has struck out the charge filed by the Asset Management Corporation of Nigeria (AMCON) against Senator Ifeanyi Ubah and his company, Capital Oil and Gas limited, over an alleged N135bn indebtedness.
Justice Nicholas Oweibo struck out the charge following an oral application by counsel for AMCON, Oluwaseun Onabowu, seeking the withdrawal of the suit.
Ubah, representing Anambra South Senatorial District, was absent in court.
At the last sitting of the court on June 13, the court had directed that criminal summons be issued on Senator Ifeanyi Ubah and his company, Capital Oil and Gas Limited.
The court gave the directive in the criminal prosecution of the Senator by the Federal Government of Nigeria on an 8-count charge bordering on his alleged indebtedness to AMCON.
Senator Ubah had a few days ago defected to the ruling All Progressives Congress, APC.
A cross section of Nigerians have speculated that his defection may have something to do with this case as he could be looking to gain political favour from Bola Tinubu whom he praised after his defection.