BY  BARTHOLOMEW  MADUKWE

Sidochem Industries Nigeria Limited, a company owned by the defunct Oceanic bank, has asked the Federal High Court (FHC) sitting in Lagos to set aside its previous order made on November 12, 2013 on the grounds that it violated the Plea Bargain Agreement entered into by Mrs Cecilia Ibru and the Federal Government.

In Charge No. FHC/ L/297/2009, on behalf of the Ibru Group, the applicant accused Asset Management Corporation of Nigeria (AMCON) of violating the said Plea Bargain agreement, which led to forfeited assets worth N191bn.

Sidochem Industries along with two applicants; Edgar Sido and Dr. Francis Sido stated that that having perused the fact upon which the court granted the ex-parte order of November 12, 2013 in favour of AMCON (respondent) it was discovered that the said order was procured on misrepresentation and suppression of material facts.

The applicants in a Motion on Notice filed by their lawyer, Chidinma Osaji, and brought pursuant to Order 26 Rule 2(1) of the Federal High Court (Civil Procedure) noted that the transaction and the funds released under the ex-parte order were part of the transactions considered to be maters of “direct and indirect receipt by Mrs Ibru, the Ibru Group and other assets belonging to Oceanic Bank.”

Besides, in a 17-pragraph Affidavit in support of the Motion on Notice deposed to by Edgar Sido (2nd applicant), he stated that by clause 6.1.1 of the said Plea Bargain agreement, members of the Ibru Group, of which the applicants are part, were released and discharged from any civil or criminal liability to the Federal Government, Group of any kind, whether direct or indirect.

“It was due to the above reasons that they were included in the Plea-Bargain and Settlement Agreement as members of the Ibru Group and were made each to execute a Deed of Ratification of the Agreement in which they undertook not to press or assert any claim against AMCON in respect to the assets forfeited by Mrs. Ibru to the Federal Government,” he explained.

Meanwhile, in a sister case filed by Mrs. Ibru, on behalf of herself and the Ibru Group, against the Attorney- General and Minister of Justice AMCON, she is praying the court for an order mandating the defendants to release the lien on the properties and unfreeze their bank accounts with 72-hour of being serve with the order of the court as it relates to them.

In the suit, filed before a Federal High Court, Abuja, through their lawyer, Dr. Ted Iseghohi-Edwards, the plaintiffs are demanding for N5 billion against the defendants for the embarrassment, humiliation, mental trauma and unwarranted inconveniences necessitated by the actions of the defendants.

Her fresh suit had arisen following an order by Justice Mohammed Idris of a Federal High Court in Lagos in November 2013, when the judge granted an ex-parte application filed by AMCON with respect to the assets of a company, Sidochem Industries Limited.