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Nairaland Forum / Nairaland / General / Politics / AMCON Takes Over Ifeanyi Ubah's Capital Oil (16328 Views)
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AMCON Takes Over Ifeanyi Ubah's Capital Oil by akins56(m): 9:41am On Aug 29, 2013 |
The Asset Management Corporation of Nigeria has taken over the management of Capital Oil and Gas Industries. http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/ 1 Like |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by asha80(m): 9:45am On Aug 29, 2013 |
65bn debt?i guess that is why he is fighting tooth and nail to occupy awka house. 10 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Afam4eva(m): 9:48am On Aug 29, 2013 |
asha 80: 65bn debt?i guess that is why he is fighting tooth and nail to occupy awka house.GBAM!!! If that guy enters government house in Awka, even Okija will not see where to ply his thread cos his shrine will be sold to the highest bidder 15 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by oneeast4: 10:00am On Aug 29, 2013 |
The clown Ifeanyi is a drowning man. He cannot even win a local government chairman in Anambra talk more state governor. God forbid. An illiterate for that matter, who can't even make one correct sentence. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 10:10am On Aug 29, 2013 |
Ubah in the one chance 1b interest per month Amcon don scatter market 1 Like |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 10:13am On Aug 29, 2013 |
I heard his Capital Oil and Gas is selling kerosene at the rate of 50 naira to Anambra people just for election? Ifeanyi Ubah, your head correct!! |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by shortgun(m): 10:20am On Aug 29, 2013 |
one.east4:Did I hear say an illiterate? An illiterate who built a company from scratch to multi million million dollar corporation. An illitrate who was selling kerosene at 50 naira per liter while other companies were selling the same product for 150 naira. Is capital oil the only company that is in debt in this country? 13 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Youngzedd(m): 10:26am On Aug 29, 2013 |
BIG MAN BIG TROUBLE. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 10:26am On Aug 29, 2013 |
shortgun: What has all these crap you posted above got to do with his illiteracy? An illiterate defending his kind! 6 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 10:29am On Aug 29, 2013 |
alexchiny:But he has a doctorate degree! how is he an illiterate? There's a difference between an illiterate and an uneducated person. 2 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by asha80(m): 10:38am On Aug 29, 2013 |
berem: But he has a doctorate degree! how is he an illiterate? There's a difference between an illiterate and an uneducated person.pls which institution gave him the degree? |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by shortgun(m): 10:41am On Aug 29, 2013 |
alexchiny:Stop deceiving yourself, go learn a trade, certificate alone can't put food on your table. The man is an achiever, he's witch hunted cos he stepped on toes, literate or illitrate, Ifeanyi Ubah is an entrepreneur per excellence, we need more people like him, go hang yourself. 15 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 10:43am On Aug 29, 2013 |
asha 80: pls which institution gave him the degree?I don't have an idea but, he has a Doctor prefix attached to his name |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by asha80(m): 10:45am On Aug 29, 2013 |
shortgun:guy are this slow?which biz man in a biz to make loss?has it not occured to you he was selling at that amt to get sympathy and votes?which other oil company is selling at that amt?did you not see the monthly interest his company is accumulating?nearly a billion naira?so where is going to get the money to settle his debt?he cannot manage his company and he wants to manage a state. 2 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by asha80(m): 10:47am On Aug 29, 2013 |
berem: I don't have an idea but, he has a Doctor prefix attached to his nameno be nigeria? |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 10:50am On Aug 29, 2013 |
asha 80: no be nigeria?well i don't know, but he isn't an illiterate. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by mekaboy(m): 10:55am On Aug 29, 2013 |
shortgun: You need people like him in ur family not anambra govt house. 1 Like |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Garrithe1st: 11:00am On Aug 29, 2013 |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by shortgun(m): 11:01am On Aug 29, 2013 |
asha 80: guy are this slow?which biz man in a biz to make loss?has it not occured to you he was selling at that amt to get sympathy and votes?which other oil company is selling at that amt?did you not see the monthly interest his company is accumulating?nearly a billion naira?so where is going to get the money to settle his debt?he cannot manage his company and he wants to manage a state.Get your facts right my friend, he was into partnership with NNPC. Most big businesses in a Nigeria are greedy that's why they won't sale at 50 naira. This is a man who brought succor to the masses,he deserves our commendation. Businesses in other climes survives by loans from banks. Haven't u noticed that the interest of the loan is exorbitant? This is why businesses are closing daily in Nigeria. The banks should also share in the blame, as a bank u can't just give billions of dollars to a company without monitoring how the money is been spent. 1 Like |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by shortgun(m): 11:07am On Aug 29, 2013 |
mekaboy:Like I said go hang yourself, Ifeayi Uba is what u can't become in ten generations 2 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by teskyg: 11:27am On Aug 29, 2013 |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 11:39am On Aug 29, 2013 |
berem: But he has a doctorate degree! how is he an illiterate? There's a difference between an illiterate and an uneducated person. From which institution please? Dude is a known drop-out. A stark illiterate. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 11:41am On Aug 29, 2013 |
shortgun: I don't care if he feeds you and your family sir! The point is, Anambra don't need a stark illiterate with an empty skull as a Governor! We are not that hungry to sell out our votes to the highest bidder! Tell your boss that he is just wasting his precious time. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Boss13: 12:03pm On Aug 29, 2013 |
shortgun: Chief shutup if you don't know what you are saying. Just keep quiet and learn. Go and study business finance and know how many businesses source their finance. Business survives on their rate of potential and actual earnings, their ability to generate earnings or income. It is their earning that gives them the ability to pay for interest on loans. Loans are leverage used to support the business, some are use to solve liquidity problem, some are used to increase the earning capacity of the business like the purchase of non-current assets, sometimes loans are use to address working capital problems. A business that is doing well and generating enough earnings do not require loans because it can generate enough retained earning for either expansion, purchase of assets or payments of dividends to shareholders. E.g UAC, Unilever, Nigerian Breweries. These food and beverage companies rarely borrow, they do so reluctantly because there is too much liquidity and effective cash management system. In the case of Ifeanyi Ubah, he was overtrading (you can check my previous comment on this) also Cosmas Maduka stated that too. Ifeanyi Ubah was doing too much with too little capital, he was overshooting what his capital can handle and hence supporting it with borrowings from banks. His problem was that, though he was making turnovers, inventories were plying up and so were his debtors, his cost of sales was also increasing and he could not pay back interest on loans. He now devised a scheme of collecting loans from banks to settle other existing loans, business expensive and also trading expense. That is where he started shooting himself on the leg. He also started collaborating with shipping companies to divert petroleum products (where he fell out with Cosmas Maduka and Access Bank Plc). When you sum up all these, you would see management inefficiencies only perpetrated by someone who is uneducated. AMCON knew they would take over, it was just a matter of time. This is a welcome development at least better than killing the company altogether. 15 Likes |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Nobody: 12:10pm On Aug 29, 2013 |
alexchiny:Oh well..... |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by Boss13: 12:14pm On Aug 29, 2013 |
alexchiny: The guy will run Anambra to the grave. Because he is so illiterate, he thought getting into government will deliver his company out of the insolvency he has put it into. I overheard from a reliably source saying so. He wants to pump anambra's money into his company to rescue his company from going down. Not a bad idea business wise, that would save the company but stiffen the progress of anambra state. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 12:15pm On Aug 29, 2013 |
Boss13: And this is the same clown that wants to govern my state!!! i laugh in bantu!!! |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 12:18pm On Aug 29, 2013 |
Boss13: He cant win the election, not when Peter Obi is still alive. Am in Anambra now and the feeling for him is that of mockery. Youths are helping the f00l spend his money while laughing at him behind his back. No power on earth can make him win this election, i think even his aides and campaign officers know this. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by EMMABC1(m): 12:28pm On Aug 29, 2013 |
alexchiny: U seem stupid and ill-educated for not knowing the meaning of illiteracy. Go and check the meaning and come back. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by alexchiny: 12:36pm On Aug 29, 2013 |
EMMA BC: According to http://www.thefreedictionary.com/ il·lit·er·ate (-ltr-t) adj. 1. a. Unable to read and write. b. Having little or no formal education. 2. a. Marked by inferiority to an expected standard of familiarity with language and literature. b. Violating prescribed standards of speech or writing. 3. Ignorant of the fundamentals of a given art or branch of knowledge: First off, Ifeanyi Ubah has little formal education and is Marked by inferiority to an expected standard of familiarity with language and literature. He also volates prescribed standards of speech at least. Now who is the silly illiterate here? See how you have made a big f00l of yourself? Pig! |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by dhardline(m): 12:52pm On Aug 29, 2013 |
No juju on earth can make that man enter Anambra government house.He is a criminal quote me anywhere.Go to Nnewi and ask and you will get a ears full from all the people he has swindled in one way or the other and then using his money to shut them down. |
Re: AMCON Takes Over Ifeanyi Ubah's Capital Oil by FilesUpdator(f): 1:17pm On Aug 29, 2013 |
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