Ibru, who is before a Federal High Court to push for an order voiding the sale of the bank, alleged that the Federal Government violated the agreement it entered with her during a plea bargain she negotiated to secure her freedom.The former bank boss was convicted and jailed for six months by a Federal High Court in October 2010 and ordered to forfeit about N150bn in cash and assets over offences related to fraud and mismanaging the banks funds. She, however, did not go through the rigour of normal trial as she embraced plea bargain to negotiate her freedom.
She spent most of the six months jail sentence in a high-brow hospital in Lagos on grounds of ill-health. Ibru is now complaining that the Federal Government is breaching the agreement they both reached.
In a suit filed before the Abuja Federal High Court to challenge the alleged breach, Ibru is seeking an order compelling the Federal Government to implement her plea bargain as specified in the agreement she signed with the government.
Justice Ahmed Ramat Mohammed has already assumed jurisdiction in the case and has adjourned trial of the issues in the case till July 10.
Ibru instituted the suit through her lawyer, Dr. Ted Iseghohi-Edwards on behalf of herself and the Ibru Group against the Attorney- General and Minister of Justice and the Asset Management Corporation of Nigeria, (AMCON), over the alleged breach of agreement she entered as part of her plea bargain in 2010.
She is asking the court to make a declaration that the plea bargain and settlement agreement that she entered into with the Federal Government in 2010 is a valid and enforceable agreement between the parties and more particularly valid against the Federal Government or any of its organs, including but not limited to AMCON.
Ibru also asked the court to declare that the stripping of the assets and the subsequent sale of Oceanic Bank International Plc to Access Bank Plc was not part of the plea bargain and settlement agreement, which she signed with the Federal Government. She also wants the court to declare the sale of the defunct bank a sham, misconceived, mischievous and of no legal consequences.
Ibru urged the court to also declare that Aero Contractors Nigeria Limited was not on the list of assets she forfeited to the Federal Government as part of her plea bargain and asked the court to declare that any attempt by AMCON to take over the airline or attach its assets as ultra vires and of no legal consequences.
Source: National Mirror
