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Court Freezes Ubah’s Capital Oil Accounts - Business (2) - Nairaland

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Court Orders AMCON To Pay Ifeanyi Ubah's Capital Oil N26 Bn / Ifeanyi Ubah's Capital Oil Logo Adorns Olympic Stadium London / FIRS Seals Ifeanyi Ubah’s Capital Oil Company In Efforts To Curb Tax Evasion (2) (3) (4)

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Re: Court Freezes Ubah’s Capital Oil Accounts by Metobime(m): 7:02am On Apr 16, 2016
Bubu and northerners don't want Uba or other SE/SS pple to grow like Dangote

3 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by panasharp(m): 7:03am On Apr 16, 2016
Very simple, when u owe, u pay ur debts -- this witch hunting cry is becoming annoying -- when will the country be great when most folks are persistently sentimental

20 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by Dplaymaker(m): 7:04am On Apr 16, 2016
Nothing dey pa.
Re: Court Freezes Ubah’s Capital Oil Accounts by Untainted007: 7:05am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

Try and be professional and be reasonable before commenting on social media Sir. This is the issue of loan granted to his company which I believe the repayment structures was not adhere to by Mr Ubah. No one is above the law, the firm has right to sue him to court and seek for how they too will not be kicked out of business because of a loan. What is the correlation of sport complex to loan he took? Don't you know that almost all billionaires live on banks' loan? If he fails to pay back as agreed by the two parties, how will they be able to give loans to others?

24 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by ba7man(m): 7:05am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!
The question you should be asking Is..... "Are capital oil's debts truly N100 billion"?

Or as long as he's Igbo, he should be allowed to borrow without repaying?

30 Likes 3 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:05am On Apr 16, 2016
fejicruz:
Soon they'll start saying "they hate us". They will choose to ignore the part of N100 billion debt.
It is the statutory duty of AMCON is buy bad debts from banks go about recovering such debts.

True that...and AMCON was a creation of GEJ by the way.

11 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by akinladejo: 7:06am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the lar
gest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

My guy try to understand something, AMCON bought all bad loans from 5 banks back then. These loans were taken by Nigerian among them is ifeanyi Uba which they refused to pack back before AMCON took them over. So if ifeanyi is a good person he supposed to ve pay back his loan b4 AMCON took over. So AMCON need their money now so they will need to sell those assets and make their money back.

14 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by ba7man(m): 7:07am On Apr 16, 2016
Metobime:
Bubu and northerners don't want Uba or other SE/SS pple to grow like Dangote
So they should allow him borrow and not pay back because he's Igbo.

13 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by ba7man(m): 7:07am On Apr 16, 2016
Metobime:
Bubu and northerners don't want Uba or other SE/SS pple to grow like Dangote
So they should allow him borrow and not pay back because he's Igbo.

If you guys get your Biafra, you'll destroy yourselves from within in no time with this thinking.

28 Likes 4 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:08am On Apr 16, 2016
Metobime:
Bubu and northerners don't want Uba or other SE/SS pple to grow like Dangote

AMCON is suing Ubah to pay up the N100million debt he owes them. (AMCON bought Ubah's debt from the banks).

5 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Eromsboy: 7:08am On Apr 16, 2016
Before we begin to colour this in sentiments and politics, we should understand that AMCON is not an NGO or Father Christmas. It was set up to manage assets of bad debtors. Their mode of operation is to help you pay back your debt when it becomes clear that you can't pay back. Then, it would help you manage your assets till the money is recovered and this is based on an agreement between you and them. I am sure the case went to court because Uba refused to reach the agreement. Do not forget that a list of debtors was sometime ago published.

17 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by 6digitscomrade: 7:09am On Apr 16, 2016
IGBOS GO TO SCHOOL JUST 4 D SAKE OF IT...DAFT IS AN APPLAUD NOT AN INSULT..
adanny01:


The case in court between Ubah and AMCON predates this adminiatration. From what you said, that means GEJ is responsible. You sound too gullible.

Did you read the last paragraph?

6 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by Idris222: 7:09am On Apr 16, 2016
Na wa oooooooo indigbo oooo smiley wink
Re: Court Freezes Ubah’s Capital Oil Accounts by gretblue: 7:10am On Apr 16, 2016
TPAND:


One Nigeria my brother. He is owing and indebted to many banks, AMCON did the needful. its not witch-hunting.
Ignore them everything is witch hunting even when they fail to comprehend the message.

9 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Hollaniyii(m): 7:10am On Apr 16, 2016
Don't forget Capital oil was closed sometimes during Jonathan administration with debt related issues. He that seek Equity must come with clean hand; Nairaland is just full of mentally deranged unexposed poverty infected people

21 Likes 4 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by fejicruz(m): 7:11am On Apr 16, 2016
Una must sha bring GEJ & PMB into every news. Even before AMCON Act was passed & assented to by GEJ, bad debts were still being recovered. An example of such is when Sanusi took for CBN & went for those 5 banks who had debts capable of crippling the economy.
Quakertellicus1:


True that...and AMCON was a creation of GEJ by the way.

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by goryorhal(m): 7:11am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

You need a brain transplant bro

15 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by feeloscar(m): 7:13am On Apr 16, 2016
Obiwannn:
so what angle should we take to this?
If I call you Zombie now...
wailerandlier, see your life

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by dotun365: 7:13am On Apr 16, 2016
fejicruz:
Soon they'll start saying "they hate us". They will choose to ignore the part of N100 billion debt.
It is the statutory duty of AMCON is buy bad debts from banks and go about recovering such debts.
first sensible post. People here are just sentimental individuals.

9 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by 6digitscomrade: 7:14am On Apr 16, 2016
U are wasting ur precious time trying to educate a obviously impervious igbotic brain...that nothing can penetrate..av u ever seen a rock retaining waterthat brain is dead and buried..move to the next level bro..this is a dead bigot.
Untainted007:


Try and be professional and be reasonable before commenting on social media Sir. This is the issue of loan granted to his company which I believe the repayment structures was not adhere to by Mr Ubah. No one is above the law, the firm has right to sue him to court and seek for how they too will not be kicked out of business because of a loan. What is the correlation of sport complex to loan he took? Don't you know that almost all billionaires live on banks' loan? If he fails to pay back as agreed by the two parties, how will they be able to give loans to others?

9 Likes 3 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by onatisi(m): 7:15am On Apr 16, 2016
Somebody is owing banks 100billion naira which is about 300miilion dollars and ppl are supporting him claiming he is been witch hunted

15 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by lonelydora: 7:15am On Apr 16, 2016
And Dangote, Otedola, etc are not owing banks? Let's call a spade a spade and not a digging material.



Politics in high places. Quote me all you can, na my mind I talk so.


If he's the only one not servicing his loan, no problem. Go ahead and freeze his account. But if Dangote and co are not servicing theirs too, na heavy thunder go fire AMCON and anybody who quote me.

2 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by sweetgala(m): 7:16am On Apr 16, 2016
I'm shocked Infeanyi Ubah is still not honoring his debt obligations, this particular issue has been ongoing for over 2 years now, remember the Coscharis matter, essentially Mr Ubah has been using his connections to secure very massive loans from Nigerian banks and then defaulting on said loan, he has been making the annual list of CBN defaulters published in national dailies along with Babalakin (Bi-Courtney).

http://www.eiu.com/industry/article/201983204/nigerias-central-bank-curbs-bank-lending-to-loan-defaulters/2014-07-03

For those shouting ethnic persecution should see what Wale Babalakin was put through without the yoruba shouting blue murder, his company was seized as was Capital oil once before the GEJ connection helped him to regain control, you would think the guy would have learned, they are there waiting for government payment of subsidies to service their operating debts

14 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:18am On Apr 16, 2016
RockHard:


Are you suggesting that Uba is being persecuted because the FG does not want the 'Billion worth sports complex in SE' to see the light of day?? Get real! cheesy

A lot of Nigerians are oblivious of the systematic marginalization of SE and SS. There is a reason why Onitsha, Calabar, Port Harcourt and Warri ports are not in operation or fully functional as Lagos ports despite SE and SS/energy companies accounting for nearly 70% of all imports. There is a reason why Enugu, Port Harcourt, Calabar, Asaba Airports are not as functional as Lagos, Abuja and Kano despite SE and SS accounting for nearly 75% of all international travels. Something is not right if you have conscience and ability to reason!
Re: Court Freezes Ubah’s Capital Oil Accounts by gabrielto(m): 7:18am On Apr 16, 2016
That's his fate..sorry to say
Re: Court Freezes Ubah’s Capital Oil Accounts by goryorhal(m): 7:18am On Apr 16, 2016
Metobime:
Bubu and northerners don't want Uba or other SE/SS pple to grow like Dangote

11 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by sweetgala(m): 7:19am On Apr 16, 2016
lonelydora:
And Dangote, Otedola, etc are not owing banks? Let's call a spade a spade and not a digging material.



Politics in high places.

Having a loan is not a bad thing, not servicing your loan agreements as stipulated in your repayments is however a severe issue as the AMCON or the Banks can not recoup their investment and therefore lend to SME.

From all CBN published indications both Dangote and Otedola don't have bad debts, though Otedola was inching towards that a few years go

http://www.globalnewsnig.com/we-did-not-seize-capital-oil-amcon/


https://nationaldailyng.com/2015/9532-2/

7 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by lottomkyes10(m): 7:19am On Apr 16, 2016
some people will just post without reading what they are commenting on I wonder if it was nyt school they attended. this man is owing and this asset mgt company bought the dept from the banks and he was aware so they are just asking for their money leave govt out of it ooooooo.

8 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by goryorhal(m): 7:22am On Apr 16, 2016
lonelydora:
And Dangote, Otedola, etc are not owing banks? Let's call a spade a spade and not a digging material.



Politics in high places.

No b spade Na cutlass ..
Mumu of them talk say make una go school Na school 2 una Dey go ..

Make e pay simple e loan simple as that ...

4 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Millyiyke: 7:23am On Apr 16, 2016
ifeanyi ubah is not a push over, just in couple of days now the court will start singing another song different from this.
they unfreeze does accounts i trust him.
Re: Court Freezes Ubah’s Capital Oil Accounts by lottomkyes10(m): 7:24am On Apr 16, 2016
tankara1010:


A lot of Nigerians are oblivious of the systematic marginalization of SE and SS. There is a reason why Onitsha, Calabar, Port Harcourt and Warri ports are not in operation or fully functional as Lagos ports despite SE and SS/energy companies accounting for nearly 70% of all imports. There is a reason why Enugu, Port Harcourt, Calabar, Asaba Airports are not as functional as Lagos, Abuja and Kano despite SE and SS accounting for nearly 75% of all international travels. Something is not right if you have conscience and ability to reason!
that's how people with small mind think. wake up from ur nightmare the marginalization is only in you mind wake up.

5 Likes

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