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Court Freezes Ubah’s Capital Oil Accounts - Business - Nairaland

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Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:16pm On Apr 15, 2016

Court freezes Ifeanyi Ubah’s Capital Oil accounts

A Federal High Court, Lagos Division, on Wednesday granted the request of the Asset Management Corporation of Nigeria for an interim injunction freezing the accounts of Capital Oil and Gas Industries Limited.
Capital Oil is owned by Ifeanyi Ubah.

Justice M. B. Idris, while granting the exparte order on the application of Mr. A. B. Mahmoud SAN, counsel for AMCON, restrained Capital Oil and Gas and Ubah from dealing with any assets or funds of the company within the jurisdiction of the court.

The court also gave order freezing all the bank accounts of the company until the matter is finally determined.

AMCON had acquired nearly N100bn debt of Capital Oil and Gas from several banks and has been in protracted negotiation and court battles with Ubah, who is a major player in the downstream sector of the oil and gas industry.






http://dailypost.ng/2016/04/15/court-freezes-ifeanyi-ubahs-capital-oil-accounts/

3 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by TheMainMan: 7:18pm On Apr 15, 2016
...

1 Like 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by doublewisdom: 7:18pm On Apr 15, 2016
Na wah o!

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Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:19pm On Apr 15, 2016
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

A lot of Nigerians are oblivious of the systematic marginalization of SE and SS. There is a reason why Onitsha, Calabar, Port Harcourt and Warri ports are not in operation or fully functional as Lagos ports despite SE and SS/energy companies accounting for nearly 70% of all imports. There is a reason why Enugu, Port Harcourt, Calabar, Asaba Airports are not as functional as Lagos, Abuja and Kano despite SE and SS accounting for nearly 75% of all international travels. Something is not right if you have conscience and ability to reason!

As I write now...Niger Delta is under attack by Nigerian Navy in the name of Fishing Out Militants!
https://www.nairaland.com/3051660/navy-launches-massive-operation-secure

206 Likes 12 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by thesicilian: 7:22pm On Apr 15, 2016
don't understand
Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:56pm On Apr 15, 2016
Smh....
Re: Court Freezes Ubah’s Capital Oil Accounts by AngryNigerian(m): 8:02pm On Apr 15, 2016
Our husband has gone mad again!!!

6 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by AceRoyal: 10:25pm On Apr 15, 2016
Ummmmmmmm!
This is a very strong somethingtongue
This is mainly political and business witch hunting.

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Re: Court Freezes Ubah’s Capital Oil Accounts by BLWeb: 10:28pm On Apr 15, 2016
fistonati:
Anybody that's helping the people is now tagged anti government


https://www.nairaland.com/3049204/how-spot-fake-infinix-hot

It is not every issue we must take a political angle on it.

23 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by Obiwannn: 6:55am On Apr 16, 2016
BLWeb:


It is not every issue we must take a political angle on it.
so what angle should we take to this?
If I call you Zombie now...

52 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Generalyemi(m): 6:55am On Apr 16, 2016
as of 2008,Ifeanyi ubah said that his account in Nigeria bank is only 15 percent of his net worth in his offshore ACCTS.. so FG pls don't waste your time on Easterners that are billions..they have learnt there lessons after the civil war...if Nigeria is for sale,7 Igbo men can buy her

66 Likes 8 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by gaffig: 6:56am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!
You are soooooo daft. You need a hard reset.

154 Likes 12 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by point5: 6:56am On Apr 16, 2016
Against ndi Igbo ....

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Re: Court Freezes Ubah’s Capital Oil Accounts by Bugatie(m): 6:56am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

What are you trying to say?

50 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by fejicruz(m): 6:57am On Apr 16, 2016
Soon they'll start saying "they hate us". They will choose to ignore the part of N100 billion debt.
It is the statutory duty of AMCON to buy non-performing loans (NPL) from banks and go about recovering such debts.

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Re: Court Freezes Ubah’s Capital Oil Accounts by LivingDiamond(m): 6:57am On Apr 16, 2016
Na wa oh!

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Re: Court Freezes Ubah’s Capital Oil Accounts by melojo: 6:57am On Apr 16, 2016
God abeg help ifeanyi ubah my brother

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by agrovick(m): 6:58am On Apr 16, 2016
That's a whole lot of debt

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Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 6:58am On Apr 16, 2016
This must be a joke I guess!

3 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Pavore9: 6:59am On Apr 16, 2016
Hmm...he needs to settle the debts running into billions.

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Re: Court Freezes Ubah’s Capital Oil Accounts by blank(f): 6:59am On Apr 16, 2016
The crook should go and pay his debts.

Next thing he will start to shout victimisation.

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Re: Court Freezes Ubah’s Capital Oil Accounts by 48noble(m): 6:59am On Apr 16, 2016
Change d changer 2019

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Re: Court Freezes Ubah’s Capital Oil Accounts by ucheheart(m): 7:00am On Apr 16, 2016
This must be his punishment for slapping that goal keeper..

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Re: Court Freezes Ubah’s Capital Oil Accounts by adanny01(m): 7:00am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

The case in court between Ubah and AMCON predates this adminiatration. From what you said, that means GEJ is responsible. You sound too gullible.

Did you read the last paragraph?
AMCON had acquired nearly N100bn debt of Capital Oil and Gas from several banks and has been in protracted negotiation and court battles with Ubah, who is a major player in the downstream sector of the oil and gas industry.

102 Likes 6 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by modath(f): 7:00am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

Haaaaaaaaaa?? shocked shocked shocked , Do you know how many bank loans your largest oil distributor defaulted on? How many banks he helped crash? How many billions that AMCON has taken liability for?

You probably don't know since some of these things need mental exercise & it's not a beer parlour kind of gist!!!! undecided

Nigeria is a peculiar place, where when people's misadventures find them out, they proceed to play the VICTIM CARD!!

Gerrarahia with the persecution complex!!!!


*addendum*

All sane Igbo folks.... "Does being Igbo preclude debt repayment?

If the first step to business ownership is capital acquisition, (no pun intended) how then are other prospective entrepreneurs supposed to access the capital outlay when one individual thinks himself above conventional Law?

Does using government connection as a shield erase debt? No, it only postpones Judgement day (Pun now fully intended) cool

190 Likes 19 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 7:01am On Apr 16, 2016
Even as this guy is helping out,they went after him.I can see clampdown cause of what he handled during the GEJ election-

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Re: Court Freezes Ubah’s Capital Oil Accounts by RockHard: 7:01am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

Are you suggesting that Uba is being persecuted because the FG does not want the 'Billion worth sports complex in SE' to see the light of day?? Guy, Get real! cheesy

55 Likes 3 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by Ugo4ema2015: 7:01am On Apr 16, 2016
Ever since ubah intervaned nd issued out a statemnt on dat dollar issue,all eyes has being on him..whitch hunting of d highest order!

11 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by TPAND(f): 7:01am On Apr 16, 2016
tankara1010:
I warned about this to SE people....they will make sure that Billion worth of Sport Complex in SE doesn't happen. They are out to cut this Igbo man to size as the largest oil distributor in Nigeria...they have been plotting this! THERE YOU HAVE IT!

One Nigeria my brother. He is owing and indebted to many banks, AMCON did the needful. its not witch-hunting.

83 Likes 4 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by GudluckIBB(m): 7:02am On Apr 16, 2016
No wonder he wanted to help the govt to "stabilize" the naira. He knew he had skeleton in his wardrobe.

But thank God for Buhari, he always ignore people like that.

Ipod, if u insult me, I will use the report button

Shikena!!

32 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by neolboy(m): 7:02am On Apr 16, 2016
God help Ubah oooo

3 Likes 2 Shares

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