Less than four weeks to the Anambra State governorship election, there are fears that one of the leading candidates in the election, Mr. Ifeanyi Ubah, may be running out of cash to successful prosecute his ambition.

THISDAY checks revealed that Ubah, who was the first among the aspirants to hop into the fray with an elaborate declaration early last month, was completely broke and searching for avenues to raise funds to complete the race slated for November 16.

But a source close to the Labour Party (LP) candidate has dismissed the insinuation and described it as absolute baloney concocted by the opposition to diminish the growing profile of the governorship hopeful. The source said such mudslinging would have come from no other quarter than the camp of the All Progressives Grand Alliance (APGA).

However, investigations revealed that Ubah's campaigns which started with great momentum had begun to lose its steam as he seemed to lack adequate fund to sustain the tempo while other candidates are intensifying their campaigns.

It was gathered that the cash crunch which has hit the oil magnate was because those he had thought would sustain his cash needs were gradually turning their back on him. The situation is said to be so bad with the Ubah campaign that funds for mobilisation and publicity are difficult to come by.

Not unaware of the situation which poses great threat to his ambition, Ubah was said to have made frantic but unsuccessful efforts to pump in more money to re-energise his campaigns.
One of the steps allegedly taken, it was learnt, was an attempt to raise about N1billion from the Asset Management Corporation of Nigeria (AMCON), which had taken over his company, Capital Oil and Gas Limited. AMCON had two months ago taken over the management of Ubah's company following his inability to service loans running into several billions that he obtained from banks.

An AMCON source revealed that the request was turned down by the corporation and the development is believed to have further slowed down the oil magnate's campaign.
While Ubah has not yet relented on his ambition, observers have attributed his financial woes to naivity, exuberance, extravagance and needless spending that have so far characterised his campaigns, having started a bit too early.

"You cannot imagine that while they have not actually campaigned effectively to woo Anambrarians who live in the state and who are the real voters, he (Ubah) has continued to go to Lagos and even America for campaigns. While he does that, a lot of money that would have been useful for his campaigns here is wasted. Or wouldn't you say that is wastage?" queried an Anambra-based politician who pleaded anonymity.

Sources close to his campaign organisation claimed that most of his advertisements and other publicity needs were being executed on credit with another huge debt profile waiting to haunt him after the election.

But the source which defended him said Ubah who was still basking in his showing at the governorship debate in far away Florida, United States, had visibly changed the political gear along with his supporters, urging more people to join in the effort to build a better future for the state and her citizens when they speak for a positive change with their votes on the election day.

“There’s just one month to go until Anambrarians cast their ballots and choose their next governor. It’s an important choice – one that will have a major impact on the future of our dear state,” Ubah once said, adding that “As I have travelled across this great state speaking to voters and listening their priorities for this critical election, one thing has become clear: they are sick of the same old political tricks and want a fresh approach.

“I want to bring the skills and expertise I’ve developed while building a successful global business, and put them to work for the people of my state. I have a plan to transform the state into an African business hub, and with your help, I will put that plan into action,” he added.


http://www.thisdayonline.com/

He is a learner.

Politics

hahaha Chino you are too much that picture is hilarious. I am coming to the office in November to greet you well well. I will bring you a bottle of Creed you deserve it! “Amara akagh ngburu oke madu. Akaa anugh ngburu onye ogbede Knowing the truth but not telling it is what kills old men. Hearing (the truth) but not heeding it is what kills young men.My people vote wise!
Chino you have done well!

Ndi ara..... Always posting rubbish

Mtcheew....
Spreading stupid rumours

Y can't they come and arrest him nah.... He is nt hiding.... He dey town everyday helping d poor... Or is he a spirit that all dis people u mentioned cannot see him....


Na people like u wey no need progress....
*spit on thread and walks away

.

YMCgyna: Ndi ara..... Always posting rubbish

Mtcheew....
Spreading stupid rumours

Y can't they come and arrest him nah.... He is nt hiding.... He dey town everyday helping d poor... Or is he a spirit that all dis people u mentioned cannot see him....


Na people like u wey no need progress....
*spit on thread and walks away

which one is lie now so he don't owe nobody then borrow him money abeg sale your inherited land and dash him and wait for him to pay you Please post pictures of his progress helping poor mtcheew

biafranqueen: hahaha Chino you are too much that picture is hilarious. I am coming to the office in November to greet you well well. I will bring you a bottle of Creed you deserve it! “Amara akagh ngburu oke madu. Akaa anugh ngburu onye ogbede Knowing the truth but not telling it is what kills old men. Hearing (the truth) but not heeding it is what kills young men.My people vote wise!
Chino you have done well!

Nnem we need to tell these money bags that Anambra is not for them anymore. We want politics of decency and character and not of unlettered money bags without integrity. How can somebody who was not able to manage his personal live and business be able to manage a state like Anambra?

Obi has set in motion the politics of decency, character, humility and politeness and not of money bags.

Chino72:


Nnem we need to tell these money bags that Anambra is not for them anymore. We want politics of decency and character and not of unlettered money bags with integrity. How can somebody who was not able to manage his personal live and business be able to manage a state like Anambra?

Obi as set in motion the politics of decency, character, humility and politeness and not of money bags.

or money miss road anybody that is falling for this guys calculated philanthropy is indeed a fool, what has he done to further the development of our great state. Did he build even one school but spent millions on dashing church leaders, my people can be so gullible.

not sure about the broke part but one thing i have noticed for sure is that intensity in his campaign has really reduced.

asha 80: not sure about the broke part but one thing i have noticed for sure is that intensity in his campaign has really reduced.

Do you think a reputable paper like Thisday cannot be sure before they post? If the guy is not truly broke, a paper like Thisday will not carry it.

I hope anambra wont enter 1 chance by voting ds ubah guy

Ifeanyi Ubah (AKA..Money Making Machine/Capital Oil) that I know will never appear broke,shikina

As far as am concerned, this Uba guy is far better than peter obi! Obi is a very baddd politician, Have u guys asked y prominent men lik soludo en d rest were disqualified in apga primaries en this puppet obiano was chosen; obiano is a nobody, not experienced in politics game en wil be dancing to obi's tune. peter obi only wants to cover up his mess!! 8yrs in office, no recruitment yet gradts re coming out yearly, no lga election! D allocations meant 4 d L.g.a's goes to Peter alone. Nw dt his tenure has almost finished he's conductin l.g.a election on 14th dec en posting job adverts anyhow. Who's fooling who?? Peter owns Sabmiller, now fidelity bank wants to buy Orient petroleum. Anambra money dosent belong to FIDELITY BANK. Enof is enof biko! Lets Say no to god-fatherism in Anambra. Obiano should stand lik a man en campaign alone

We hear enough noise from chino and co more than the stooge obiano,mind u no amount of propaganda in nairaland will make us elect a man who does not even have a voters card in anambra state but lagos. How can he now solve the problems of an ordinary man at ukwulu in dunukofia,or that man in osamala in ogbaru or a woman at uli ihilia?.we will see on nov 16 in the bolling booth not in nairaland

M.Cynthia:
As far as am concerned, this Uba guy is far better than peter obi! Obi is a very baddd politician, Have u guys asked y prominent men lik soludo en d rest were disqualified in apga primaries en this puppet obiano was chosen; obiano is a nobody, not experienced in politics game en wil be dancing to obi's tune. peter obi only wants to cover up his mess!! 8yrs in office, no recruitment yet gradts re coming out yearly, no lga election! D allocations meant 4 d L.g.a's goes to Peter alone. Nw dt his tenure has almost finished he's conductin l.g.a election on 14th dec en posting job adverts anyhow. Who's fooling who?? Peter owns Sabmiller, now fidelity bank wants to buy Orient petroleum. Anambra money dosent belong to FIDELITY BANK. Enof is enof biko! Lets Say no to god-fatherism in Anambra. Obiano should stand lik a man en campaign alone

Nne don't mind these clowns clutching at straws. Peter Obi and his puppet are going no where.

Anambrians should be wise . I wonder the kind of Leader/Governor he will make , someone that is owing his workers 11 months salary. #Charity begins at home#

He doesn't just appear broke,he is broke.
We just closed our local chapter of one the organizations canvassing for him due to lack of funds.Not that we were really canvassing or believed the man would make it.
Tells u how he intends to run the state were he to be mistakenly elected.

The greatest mistake any State will make is to elect this fraud to Govern her!