datolee:


[s]Why must you keep doing this? At first you said it was taken over because of subsidy fraud... We must let Nigerian's know that it wasn't taken over because of subsidy fraud but because of debt (remember AIG and Cosmas Maduka case?)[/s]

From you link, this is what AMCON said



AMCON taken over was just to stabilize the company and hand it over to Uba!! If they have reached an agreement before this time frame, who are you to question it? Are you privy to the agreement?

The corporation said, “Following discussions with COG, a resolution was reached, which was subsequently adopted as terms of settlement in suit number FHC/ABJ/CS/714/2012 at the Federal High Court. One of the key conditions of this settlement is that AMCON takes over executive management of the COG for a period of two years.

barcanista:
It was a Court ruling that led to the taken over of the Management of Capital Oil in the first instance for owing over N65 billion. The question is, what is the legal/moral justification for handing over Capital Oil back to Ifeanyi Ubah when the Court Ruled that AMCON should manage it for TWO YEARS, which is 2013-2015?

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

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

Question remainsn why was capital oil returned to Uba??

omenka:





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.

datolee:


What if AMCON met their goal before the two period? don't forget they went back to court to agree on the settlement.. I really wonder what is your problem here.

One fact we must get out of the way... it has nothing to do with subsidy scam! AMCON does not deal with subsidy, they deal with bad debt of companies

It was a Court ruling that led to the taken over of the Management of Capital Oil in the first instance for owing over N65 billion. The question is, what is the legal/moral justification for handing over Capital Oil back to Ifeanyi Ubah when the Court Ruled that AMCON should manage it for TWO YEARS, which is 2013-2015?

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

barcanista:
Stop telling lies!!! I never said it was seized because of the subsidy. Point it OUT or Shut up forever!!!
You are a shameless liar and embarrassing yourself in public. There was a court ruling for the Company to be run by AMCON for two years. There was nothing life a "IF"

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

datolee:


I dey bro, how your side?

It's really very sad they way they play their politics. Twisting facts, propagating lies and deceit. We must keep telling the Nigerian Public the truth

datolee:


Your question has no bases, Capital oil wasn't taken over by AMCON because of subsidy fraud, AMCON does not investigate subsidy fraud, It was taken over like other banks because of debt!

[size=16pt]In fact, the earlier arrangement was for AMCON to manage the company for two years (from 2013 to 2015), stablize the company ad hand it back over to Ifeanyi Uba, he never stopped being the owner, just that he was ousted as the CEO and cannot sign cheque. As matter of fact, AMCON gave him two options, either to continue working as CEO and forfeit his governorship aspiration or go for governorship and forfeit being CEO.[/size]

What is the relationship between AMCON and subsidy? He has reached agreement with AMCON just like the other banks and business taken over by AMCON and he is reinstated as the CEO. all these while, he never cease to be the owner.

We shout corruption every time. Don't mislead people

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

http://www.vanguardngr.com/2013/10/seize-capital-oil-amcon/

bloodykiller:


buhari is a terrorist

barcanista:
Stop telling lies!!! I never said it was seized because of the subsidy. Point it OUT or Shut up forever!!!
You are a shameless liar and embarrassing yourself in public. There was a court ruling for the Company to be run by AMCON for two years. There was nothing life a "IF"

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

aljharem:

Gbammm !!!

A lot of people need to be educated

barcanista:
My Friend you better quit this your stale line of thought rather than this your line of thought. There is Nothing like a condition there. AMCON took over due to a court ruling. Which goals? Did you follow this UBAH issue at all? Who is talking of Subsidy here? Please read again... Perhaps you don't understand what a Court Ruling means

udemzyudex:


Answer is question naa..... [size=16pt]Wetin concern oga jona and AMCON



You just dey mumu ur sef for here[/size]...

datolee:


The OP stated that the reason for the take over was because of subsidy fraud, and you wrote a comment that I think was affirmative of the suggestion, If you hold a different view, then I withdraw my statement... In that case, you need to advice the OP that the take over has nothing to do with subsidy fraud

The corporation said, “Following discussions with COG, a resolution was reached, which was subsequently adopted as terms of settlement in suit number FHC/ABJ/CS/714/2012 at the Federal High Court. One of the key conditions of this settlement is that AMCON takes over executive management of the COG for a period of two years.

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

datolee:


Why must you keep doing this? At first you said it was taken over because of subsidy fraud... We must let Nigerian's know that it wasn't taken over because of subsidy fraud but because of debt (remember AIG and Cosmas Maduka case?)

From you link, this is what AMCON said



AMCON taken over was just to stabilize the company and hand it over to Uba!! If they have reached an agreement before this time frame, who are you to question it? Are you privy to the agreement?

Ipledge:
am soorrry for being harsh, i will erase it

laykorn:

They need you in Jokes Section sir.
Ayamlaykorn
TeamSendTANoidsBackToSchool

shizzleStar:
Of course you and op are in the same pedestal, so its no surprise that such nonsense will make plenty of sense to nuisances like you.

Useless APigC dumbheads

barcanista:
This is a regime that rewards corruption.

omenka:
Here you go again with your selective blindness. Did you read the opening post or you just popped out shooting indiscriminately



How dare you try to dissociate what happened to the company from the subsidy ponzi scheme?? How dare you.

aljharem:

Gbammm !!!

A lot of people need to be educated

datolee:


[s]I have not your time really.

‘‘Consequent upon this settlement, Ubah will be re­suming his role as the Man­aging Director/CEO of COG. His resumption as MD/CEO of COG brings to an end the management of COG by AM­CON.

“This is in accordance with the terms of settlement as agreed by both parties that the loan be serviced as per the judgement of the Federal High Court.

“This settlement is in line with AMCON’s roles as a resolution vehicle to help stabi­lise and revitalise the Nigerian banking system and econo­my,’

The settlement was in accordance with the judgment of the court![/s]

The corporation said, “Following discussions with COG, a resolution was reached, which was subsequently adopted as terms of settlement in suit number FHC/ABJ/CS/714/2012 at the Federal High Court. One of the key conditions of this settlement is that AMCON takes over executive management of the COG for a period of two years.

The agency added that it would, within the two years, “drive the turnaround of the company’s operations in order to meet various timelines and goals set by COG’s board of directors and AMCON.”

“This change of management was effected on June 21, 2013,” AMCON said.

kasiem:
i know after the declaration of Gej tomorrow the boko haramists will intensify their bombing campaign to make Gej unpopular but let us not lose our focus in the struggle of emancipating this country from those parasites that think Presidency is their birthright