The Nigeria Police has arrested the Managing Director
of Capital Oil & Gas Industries Ltd , Mr Ifeanyi Uba ,
over the alleged involvement of his companies in the
fuel subsidy scam. The oil magnate who arrived the
Unit in the company of his team of lawyers was
interrogated today by the Special Fraud Unit ,
Milverton Ikoyi.

His company was indicted by Mr Aigboje Aig-
Imoukhuede’s led 15-man Presidential Panel
constituted by President Goodluck Jonathan to re-
investigate the findings of the report of an earlier
investigation panel set up by the Ministry of Finance on
Fuel Subsidy payments valued at over N2 trillion.


elombah.com/index.php/201-news/latest-news/12863-capital-oil-boss-ifeanyi-uba-arrested-over-fuel-subsidy-fraud

The Asset Management Company of Nigeria (AMCON)
yesterday reinstated Mr. Ifeanyi Ubah as the Managing Di­
rector/Chief Executive Officer (CEO) of Capital Oil and Gas
(COG), nearly 17 months after it took over the assets and
management of the oil firm following a controversial loan
deal involving Access Bank and Coscharis Group.

The reinstatement of Ubah puts to rest the close to two
years management of the company by AMCON.

Ifeanyi Uba is the major financier and coordinator of TAN.

Why was capital oil returned back to him?? Why isn't he in jail??


Nb: I need cogent answers. This is an ongoing research work.

Cc: Seun, Obinoscopy. Please can we have this on the front page?? What is sauce for the goose is also sauce for the gander.

Cc: Barcanista, Obiagelli, Berem, Caseless, Ibnsultan, mynd44, sweetmelon, Gbawe, Pataki, egift, Uduastate.

What is good for the goose is good for the gander.

Note this: www.nairaland.com/1990580/why-did-buhari-sentence-fela was speedily moved to the fp, I see no reason why this shouldn't be as well.

What else if not for 2015 election? Isn't it obvious?

Jonathan is corruption personified. Simple!!

The Truth is no where stranger than fiction. There is a long trail of misappropriation behavior from the Top to the Bottom. Ifeanyi UBA, just like Alhaji Abdulrasheed Maina, Otumba Gbenga Daniels, Bode George, Umaru Dikko, Ibrahim Babangida, Femi Otedola, have proven that the more corrupt you are the more rewarding this enterprise called Nigeria becomes

When you have sacrificed your sense of patriotism and conscience to feed the every growing OAK tree of corruption, you become a sacred cow, too ugly to look at and yet too sensitive to kill

Jonathan is hell bent on bankrupting Nigeria before he leaves office. He curries favour from thieves, felons and Brigands, gives state pardon and national honour to them at will so that they will join him at the table of looting. How else do you explain the flipping back of Capital oil to Ifeanyi Uba. I only see competition for who will loot highest between GEJ, PEJ and their Cohorts

Seun, what are we waiting for?? Shouldn't this be on the fp

from the spelling of ifianyi which is supposed to be ifeanyi u will finally realise that this op is not an igbo person who has been claiming to be

Seun, can we have this thread as well on the front page?

In the best interest of TRUTH which NL is trying to attain, we would like wide and vast readers of this forum to give us their insight into this discourse.

Many thanks for your kind cooperation.

Omenka, how about changing Ifianyi in your title to Ifeanyi?

Capital Oil was returned to Ifeanyi Uba as a thank you gift for all the TANiods he dried under the Sun.

Jonathan has the Legacy of rewarding criminality (act of crime) if only you can swear allegiance to GEJ and his wife. Ask Bode, Kasumo, FFK, Okupe, etc.

Under the administration of Jonathan, Patriotism to Nigeria is now limited to Loyalty to Jonathan and his Wife

Same reason he pardoned Diepreye Alamieyeseigha, released Al-Mustapha and dropped charges against Mohammed Abacha. He is a friend and defender of criminals - MEND did not carry out Oct 2010 bomb blast/billion naira contract to Tompolo yet oil bunkering increased. If Ifeanyi Ubah can get Capital Oil back, Erastus Akingbola and Cecilia Ibru should get their banks back. Apart from crazy loans, this man defrauded the Nigerian people. It's a shame

Lol.. Research season *spreads mat*

I'm here to read the findings

06 November 2014, Lagos - The Asset management company of Nigeria, AMCON, has handed over of Capital Oil Group to Ifeanyi Ubah, after amicable settlement of all outstanding issues between both parties.

The has also debunked what it described as “some false statements,” including sacking of some staff.

In a terse statement, by Kayode Lambo, AMCON’s spokesman, said “the insinuation that AMCON may have laid off staff is incorrect. Capital Oil may be referring to possible loss of jobs down its own supply chain that may have been affected when there was a stand-off while the court order obtained by Amcon was being contested by Capital Oil itself.”

An earlier statement by Lambo announcing the return of Capital Oil Group to Ubah, linked the development was sequel to “amicable settlement of all pending legal disputes between the parties.

“Cosequent upon this settlement, Chief Patrick Ifeanyi Ubah will be resuming his role as the Managing Director /Chief Executive Officer of Capital Oil and Gas Group.

“His resumption as the MD/CEO of Capital Oil/Gas brings to an end the management of Capital Oil/Gas by AMCON… “, the statement added.

http://www.sweetcrudereports.com/2014/11/06/amcon-returns-capital-oil-to-ifeanyi-ubah/

OP,what proof do you have to show that it is GEJ that released Capital oil and gas to its owner,Ifeanyi Ubah?

kasiem:
from the spelling of ifianyi which is supposed to be ifeanyi u will finally realise that this op is not an igbo person who has been claiming to be

Go to hell in six different ways. And don't try to derail the thread.

Question remainsn why was capital oil returned to Uba??

should they have returned it to you or is it your fathers company?

you can as well go and put him in jail yourself

Useless, frustrated bastard

Jonathan's destiny is to bankrupt Nigeria - pastor tunde bakare.

Nothing explains ebele's explicit support for corruption than the above!

Trillions lost in subsidy

Billions of dollars lost in subsidy

Trillions of naira spent on the military in the last 4 yrs yet they still say they have no equipment!

Jonathan's regime defines corruption and explains clearly what cronyism really means!

Nigeria: Jubilation As AMCON Returns Ownership of Capital Oil to Ubah


By Chuks Collins
Awka — IT was all wild jubilation and excitement all over major cities of Anambra State yesterday when news of the return of the oil giant-Capital Oil Group to its owner and proprietor, Dr. Patrick Ifeanyi Ubah, was broken.

According to information made available to journalists in Awka, the Assets Management Corporation of Nigeria (AMCON) has formally announced the return and restoration of all rights, privileges, management and ownership of the oil company to Ubah with immediate effect.

A statement by Chairman of AMCON, Alhaji Aliyu Kola Belgore and signed by the group's Head of Communications, Strategy and Research, Kayode Lambo, said the positive development was sequel to "amicable settlement of all pending legal disputes between the parties."

The statement said: "Consequent upon this settlement, Chief Patrick Ifeanyi Ubah will be resuming his role as the Managing Director /Chief Executive Officer of Capital Oil and Gas Group.

"His resumption as the MD/CEO of Capital Oil/Gas brings to an end the management of Capital Oil/Gas by AMCON..."

While a call to Ubah was answered by one of his aides who declined comments but politely said that his boss was in a "crucial management meeting" in Abuja, telephone calls to both Belgore and Lambo rang out without any response.

In a reaction over the development, a political icon in Anambra, Mr. Maduka Okoye, who spoke with journalists in Awka, described it as a welcome development, saying that no one can manage a project that emanated from years of sweat, hardwork and systematic planning better than the owner/ visioner.



He pointed out that the latest move by AMCON will allow the Capital Oil and Gas group get better attention and positioned to take its pride of place in the down stream sector of the industry.

Okoye said that thousands of individuals who were relieved of their jobs because of the face-off can now heave a big sigh of relief because of the renewed hope of getting recalled back to the oil company.

Also, an Onitsha-based businesswoman, Mrs. Edith Anukwu, urged all parties to crises to maintain a cordial relationship after a peaceful and permanent resolution of all the pending issues in the true spirit of patriotism and brotherliness so that the giant oil company will not be made to suffer again.

The young business contractor commended Ubah who she described as a personification of a useful industry who has become a mighty Iroko tree that provides shades to many.

She said: "All the good people of Nigeria, particularly the youths, are very happy for this development because we fully appreciate the net effect of the empowerment of a single individual on his immediate and extended family as well as the entire society. It is our hope and prayer that this peace initiative would be allowed to see the light of the day. We are indeed very happy and words will not be enough to express our happiness." Anukwu enthused.

An Okada rider said he was personally happy because he now looks forward to the usual free petrol all Capital Oil sales outlets supply to commuter okada riders and buses.

An executive of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Adeyemo Ojo, told journalists in Awka that it has restored the trust his organisation has in the Federal Government and her agencies as agents of positive development.

http://allafrica.com/stories/201411060879.html

atlwireles:
06 November 2014, Lagos - The Asset management company of Nigeria, AMCON, has handed over of Capital Oil Group to Ifeanyi Ubah, after amicable settlement of all outstanding issues between both parties.

The has also debunked what it described as “some false statements,” including sacking of some staff.

In a terse statement, by Kayode Lambo, AMCON’s spokesman, said “the insinuation that AMCON may have laid off staff is incorrect. Capital Oil may be referring to possible loss of jobs down its own supply chain that may have been affected when there was a stand-off while the court order obtained by Amcon was being contested by Capital Oil itself.”

An earlier statement by Lambo announcing the return of Capital Oil Group to Ubah, linked the development was sequel to “amicable settlement of all pending legal disputes between the parties.

“Cosequent upon this settlement, Chief Patrick Ifeanyi Ubah will be resuming his role as the Managing Director /Chief Executive Officer of Capital Oil and Gas Group.

“His resumption as the MD/CEO of Capital Oil/Gas brings to an end the management of Capital Oil/Gas by AMCON… “, the statement added.

http://www.sweetcrudereports.com/2014/11/06/amcon-returns-capital-oil-to-ifeanyi-ubah/

you even bothered yourself...i swear the op is one pathetic and frustrated loser

idiiott!

This is a regime that rewards corruption.

Op

shizzleStar:
should they have returned it to you or is it your fathers company?

you can as well go and put him in jail yourself

Useless, frustrated bastard

Wow!!!

lacasa:



Wow!!!

What?

Be sincere to yourself, does this thread make sense to you?

Such threads can only come from persons as described above

shizzleStar:

you even bothered yourself...i swear the op is one pathetic and frustrated loser

idiiott!

There are gullible children reading threads on this forum, they need the other side. The OP is not worth my time.

omenka:
Seun, what are we waiting for?? Shouldn't this be on the fp

I wonder what the Topic will be disfigured into if it makes Frontpage

Sealeddeal:
OP,what proof do you have to show that it is GEJ that released Capital oil and gas to its owner,Ifeanyi Ubah?

AMCON operates under the thumb of the president without whose approval properties/assets of this nature can neither be confiscated nor relinquished.
One would simply be playing the ostrich by trying to absolve the president of involvement in this.

The guy mata don tire me

atlwireles:


There are gullible children reading the threads on this forum, they need the other side. The OP is not worth my time.

You are right, thanks for putting the facts out here and setting the records straight.

True, the op is such an irritant whose existence is pathetic. He and his senseless thread are truly not worth atention

What is happening in Nigeria now in the guise of governance is just like an ill-scripted movie one can't wait for it to be over

egift:


I wonder what the Topic will be disfigured into if it makes Frontpage

The thread will make front page when it get to page 3. Trust Xeun.

atlwireles:
06 November 2014, Lagos - The Asset management company of Nigeria, AMCON, has handed over of Capital Oil Group to Ifeanyi Ubah, after amicable settlement of all outstanding issues between both parties.

The has also debunked what it described as “some false statements,” including sacking of some staff.

In a terse statement, by Kayode Lambo, AMCON’s spokesman, said “the insinuation that AMCON may have laid off staff is incorrect. Capital Oil may be referring to possible loss of jobs down its own supply chain that may have been affected when there was a stand-off while the court order obtained by Amcon was being contested by Capital Oil itself.”

An earlier statement by Lambo announcing the return of Capital Oil Group to Ubah, linked the development was sequel to “amicable settlement of all pending legal disputes between the parties.

“Cosequent upon this settlement, Chief Patrick Ifeanyi Ubah will be resuming his role as the Managing Director /Chief Executive Officer of Capital Oil and Gas Group.

“His resumption as the MD/CEO of Capital Oil/Gas brings to an end the management of Capital Oil/Gas by AMCON… “, the statement added.

http://www.sweetcrudereports.com/2014/11/06/amcon-returns-capital-oil-to-ifeanyi-ubah/

Now look at this:

His company was indicted by Mr Aigboje Aig-
Imoukhuede’s led 15-man Presidential Panel
constituted by President Goodluck Jonathan to re-
investigate the findings of the report of an earlier
investigation panel set up by the Ministry of Finance
on Fuel Subsidy payments valued at over N2 trillion.

Where was he absolved of fraudulently receiving subsidy payments in the report you quoted above??