Coscharis Group/ Dr. Cosmas Maduka a self-made and successful Nigeria businessman with a credible global reputation and affiliation undertook a facility for the finance of Premium Motor Spirit on behalf of Capital Oil Ltd/Ifeanyi Uba after so much persuasion and plea for assistance by the later to enable him expand his business scope.
The relationship started off smoothly in May 2011 on six tranches until October 2011 when Capital Oil/Ifeanyi Uba reneged on his obligation by failing to comply to the dynamics of the business transaction on the 7th to 11th tranche.
Thereby leading to an unserviced debt portfolio of over N21billion in Coscharis' name as at date in view of Capital Oil/Ifeanyi Uba's non-settlement of the disbursed funds and the unknown status of the financed cargo.
Details are as captured in the video upload link ..Http://youtu.be/vWtwNJc5uvw,
https://www.youtube.com/watch?v=_ltZt6hm0ty