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Nairaland Forum / Nairaland / General / Politics / Why Did Jonathan Return Capital Oil To Ifeanyi Uba? (62380 Views)
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Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by poiZon: 10:03pm On Nov 10, 2014 |
5 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:03pm On Nov 10, 2014 |
omenka: Because he has met conditions set out in the judgment of the Federal High Court 10 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by stonecoldcafe: 10:05pm On Nov 10, 2014 |
? |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:05pm On Nov 10, 2014 |
I can't believe what you all f@$uckin bastiches are yaking on about. Criminals every where these bastard bitches do not deserve the defence you are putting up. Yesterday Emeka Offor was in the UK giving awards to Disabled athletes. Same frktard who ensured we are enslaved to importing petrol forever. |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by jomoh: 10:05pm On Nov 10, 2014 |
shizzleStar: No need for foul and insulting words, just present a logical argument to back up your own position. Why does all this Jonathan followers love to result to insults when boxed into corner same way their mentor and his team result to attacking personality when accused of clear foul play. I weep for this country when I see the kind of people that are being bred by the jonathan team. A bunch of people that find it hard to take responsibility, instead, prefer to play the blame game and at the worst result to insult when there's no one to blame. |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by sweetgala(m): 10:06pm On Nov 10, 2014 |
datolee: He owes too much money, that the company was not liquidated is AMCON registering it's importance and managing it better. However to return such a company is shady. We all know what went down , just say the truth and liberate your mind from enslavement 3 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by udemzyudex(m): 10:06pm On Nov 10, 2014 |
barcanista: |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by hybeenoni: 10:06pm On Nov 10, 2014 |
[quote author=ZUBY77 post=27900407] No. It's not how corporations are run. But when you target one group of people, you get what you don't want to hear. One company CEO openly bribed the fuel subsidy investigation chairman. It became scandalous and guess what? We don't know about it today. I say it again, if we must liquidate capital oil for corruption, let's also liquidate Zenon oil. We will be fine with that. Zubby park smwhr, the Europe u enjyd on ur Globalrun, was it developed wt dis ur skewed thinkin? |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by omenka(m): 10:06pm On Nov 10, 2014 |
datolee:smh. All along you have shown links to your arguments, why is it difficult to show us links as to where that was said |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by pentagonal: 10:07pm On Nov 10, 2014 |
ZUBY77: did you mortgage your brain for hot, dried Berlin entre?? the onus is on the president to prosecute otedola and facrook for the under carpet dirty dealing, but what did we get alas, even the presidency killed the ribadu report to nail all em oil thieves at the bud. I can now see your senseless and sentimental argument. everyone against the Igbo thingy not only rubbish but make a mockery of your much taunted exposure. 3 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by atlwireles: 10:07pm On Nov 10, 2014 |
AMCON Takes Over Management of Capital Oil and Gas Industries The Asset Management Corporation of Nigeria (AMCON) which was established as a resolution vehicle to help stabilize and revitalize the Nigerian banking system and economy acquired Capital Oil and Gas’s (COG) outstanding facilities from various banks. 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 COG for a period of two years. Dr. Patrick Ifeanyi Ubah, The erstwhile Managing Director/Chief Executive Officer has consequently relinquished his role as head of the organization. In the interim, AMCON has appointed an acting Managing Director to ensure accountability and continuity of operations. AMCON’s takeover of the executive management of COG within the two year time frame will:- 1. Stabilize COG. AMCON plans to ensure seamless operations at COG thereby facilitating optimal performance. 2. Support and 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. http://amcon.com.ng/MediaCenter/AMCON-Takes-Over-Management-of-Capital-Oil-and-Gas.aspx 1 Like |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by poiZon: 10:08pm On Nov 10, 2014 |
datolee: |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by omenka(m): 10:12pm On Nov 10, 2014 |
datolee:I can't believe you just typed this!! Can you see how you think?? Criminals should be rewarded because the government can't afford to have their companies go burst!! Does that explain why Jonathan hasn't been able to throw anyone behind bars over the subsidy fraud One of the reason AMCON descended on his asset was because of the money he owed banks, and by your logic, the depositors whose monies he borrowed can go to blazes, they don't have companies of "strategic importance"!! Is this the way to run an economy?? Is this the way to run a country?? This is shameful. 5 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by atlwireles: 10:12pm On Nov 10, 2014 |
http://www.thenigerianvoice.com/news/127019/1/why-we-took-over-capital-oil-8211-amcon.html IN what seems like an effort to clear the air on the controversies generated by the recent takeover of Capital Oil and Gas Industry, The Assets Management Corporation of Nigeria (AMCON) has offered explanation on why it took over the operations of Capital Oil and Gas Industry. oil firm for the next two years. Based on the takeover, owner of the company, Dr. Ifeanyi Ubah, who is the governorship candidate of the Labour Party candidate in the November 16, 2013 election in Anambra State, has been greatly criticized in a section of the media for his 'inability to manage his establishment.' Head of Corporate Communications of AMCON Kayode Lambo, explained that the corporation did not seize Capital Oil, but is managing it for a two year period to enable it recover the debt the company owes and, thereafter hand back the company to Ubah. The take over came at inauspicious time for the owner of the company, Dr. Ifeanyi Ubah, who is the governorship candidate of the Labour Party candidate in the November 16, 2013 election in Anambra State. His opponents in the election have latched on this development to portray as an ineffective leader who could not manage even his own company. Lambo explained that Capital Oil is not the only company where AMCON is involved in a rescue operation. 'AMCON is involved in the operations of most of the banks, manufacturing companies and airlines operating in Nigeria,' he claimed. Giving an overview of AMCON's interventions, the Managing Director and Chief Executive Officer of AMCON Mustapha Chike-Obi, said that AMCON have had to think about the consequences of its interventions, not just on one group of people, but on the economy as a whole. 'AMCON considered unemployment of young people in its activities; the corporation is conscious of anything that will create employment opportunities for young people, as well as promote business that has chances of survival. He said that AMCON's style of intervention ensured that security is provided for performing loans of companies.' According to Chile-Obi, Arik Air, for instance, owes AMCON N70 billion but because it has aircrafts worth N75 billion, AMCON decided to come in and assist in its operations. 'If AMCON had refused to come into the picture, which would not have made any good business sense, the airline which does 65 percent of the country's domestic air travels, may not have been in operation today. AMCON is aware that Arik Air has a credit from NEXIM Bank, and any attempt to handle her case without care would be disastrous to the country's image, and the situation could lead to a job loss of between 10,000 and 20,000 directly and indirectly.' He also said that in the manufacturing sector, for instance, out of the 15 biggest companies, AMCON is involved in 10 of them, and in the downstream oil sector, out of the 10 biggest depots, AMCON is involved in eight. 5 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:13pm On Nov 10, 2014 |
These people surely cannot comprehend, They just keep shouting suit FHC/ABJ/CS/714/2012 , What really happened? AMCON took Capital oil and gas to court, Here is what Justice Abdu Kafarati of the Federal High Court, Abuja had to say in the said suit Justice Abdu Kafarati of the Federal High Court, Abuja had, in the suit by AMCON, marked: FHC/ABJ/CS/714/2012 against Capital Oil and Gas Industries Limited and Ifeanyi Patrick Uba, through an order ex-parte, granted AMCON possession of certain assets of the defendants pending the final determination of the substantive suit. http://www.thisdaylive.com/articles/amcon-insists-on-retention-of-capital-oil-s-assets/133993/ Following the advice of the judge, they reached a settlement of which one of the conditions was for AMCON to take over the management, not ownership!!! of the company. Ifeanyi Uba has just met other terms of the settlement and his business is handed back to him, I wonder the uproar? The 2 years thing was one of the condition for an out of court settlement... otherwise, please tell us when court judgement become "adopted as term of settlement?" 13 Likes 2 Shares |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:15pm On Nov 10, 2014 |
Nigerians and our frail memories. How come we forgot about the case of Farouk Lawan and Otedola jus t like that!!! I'm about to start my own research on that. [url]en.m.wikipedia.org/wiki/Farouk_Lawan[/url] 3 Likes 1 Share |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by 100Cents: 10:16pm On Nov 10, 2014 |
barcanista: You guys may not know what pains one passes through to establish a profitable business. I wonder why there is so much politically and tribal motivated hate on this forum beaming a picture of what is real in the larger society.. 2 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:18pm On Nov 10, 2014 |
barcanista: You just lack basic comprehension I will put two points to you 1. From your link, it says, one of the conditions was to manage the company for 2 years, what were the other conditions 2. From your link it says "adopted as terms of settlement in suit number FHC/ABJ/CS/714/2012" Since when did court judgment be adopted as settlement? From the above, they settled out of court and one of the condition was for AMCON to manage the company, not ownership for two years. 8 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by poiZon: 10:18pm On Nov 10, 2014 |
1 Like |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by omenka(m): 10:19pm On Nov 10, 2014 |
atlwireles:And atlwireless resorts to spamming. Smh. |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by atlwireles: 10:22pm On Nov 10, 2014 |
By the way, Mr Ubah will be at high table tomorrow as Goodluck ebele Jonathan announces his reelection. Eyah, una don suffer die for this country with bad belle. OP open your next thread, make we help carry enter front page. The fresh air express is riding high to 2019. You either get in or you will get crushed. 4 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by hyfr(m): 10:22pm On Nov 10, 2014 |
sweetgala:See your mouth, just say u will vote for buhari because he at 72yrs has more vision than u in ur twenties or thirty's 2 Likes 1 Share |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by atlwireles: 10:22pm On Nov 10, 2014 |
omenka: The truth is now slapping you. 5 Likes 1 Share |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:24pm On Nov 10, 2014 |
barcanista:the wiping out of corruption cases against mohammed abacha should be our next research topic. This one on Ifeanyi Ubah seems mild. |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by aljharem(m): 10:24pm On Nov 10, 2014 |
unlimitedbosco: Good !!!!!!!!!!!! 3 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Ideyontop: 10:24pm On Nov 10, 2014 |
berem: Why do u hate the President so much? I wonder! At this time in your life history,God has placed him over you as your leader. Accept it and live your life. There is nothing you can do about it! Stop kicking against the pricks! How often do you pray for him?You amaze me! |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by ZUBY77(m): 10:24pm On Nov 10, 2014 |
pentagonal: Your problem is that you love making noise. Solutions to political issues are not what you just achieve. There were corruption during Obasanjo regime. Obasanjo issued fuel subsidy payments more than any other president. Obasanjo also released pension funds. Now GEJ started the investigation and you are still ranting. You are too blind and stuppppid to see beyond your smart phone. The moment you stop thinking along Political slogans, you life may begin there. But at the moment, you are just a block head. 3 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by aljharem(m): 10:24pm On Nov 10, 2014 |
datolee: |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:25pm On Nov 10, 2014 |
atlwireles: You get mouth ooh bro.. I hope say the fresh air train is air-conditioned.. last bustop nah 2019 2 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by Nobody: 10:25pm On Nov 10, 2014 |
Mortiano:Permission to send you PM? |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by aljharem(m): 10:25pm On Nov 10, 2014 |
pentagonal: Is AMCON the government ? Dude Educate yourself fast before you disgrace we yorubas here 3 Likes |
Re: Why Did Jonathan Return Capital Oil To Ifeanyi Uba? by mployer(m): 10:26pm On Nov 10, 2014 |
datolee: Bro don't mind them. Somebody built a company from scratch and they are wondering why it wasn't taken from him. Shey na their papa build am? |
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