Court Freezes Ubah’s Capital Oil Accounts - Business (6)

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Court Freezes Ubah’s Capital Oil Accounts - Business (6) - Nairaland

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Court Orders AMCON To Pay Ifeanyi Ubah's Capital Oil N26 Bn / Ifeanyi Ubah's Capital Oil Logo Adorns Olympic Stadium London / FIRS Seals Ifeanyi Ubah’s Capital Oil Company In Efforts To Curb Tax Evasion (2) (3) (4)

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Re: Court Freezes Ubah’s Capital Oil Accounts by Ibime(m): 9:58am 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!

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

Ranting of a typical ethnic jingoist and ignoramus with no clue as to the back story

In the banking crisis of 2009, Capital Oil was one of the biggest holders of toxic loans owing N100bln to the banks.

The CBN bad debt vehicle AMCON bought the loans to stabilise the banks, and now Capital Oil is unable to meet the finance charge of an obligation he signed, you are bleating like a castrated goat.

Thunder fire anyone who liked or shared the utter peabrained litany of ignorance you typed above.

Is is today that Ifeanyi Ubah became a thief and a 19? How about when he stole N21bln from Cosmas Maduka?

https://www.nairaland.com/1093865/ifeanyi-ubah-fraudster-cosmas-maduka

8 Likes 2 Shares

Re: Court Freezes Ubah’s Capital Oil Accounts by ifevictor: 10:02am On Apr 16, 2016

amedave:
Why do we southern talk like fools??, I am from delta state but please don't dare mention Asaba airport into the matter, have you gone there to see the state it is in after uduaghan sink billions of naira that could have been channeled & used better in other areas, go to the west & see some of there state government are busy developing seaport & free trade zone what are our lazy governors & senators doing ?? Enough stupidly from us, let's face our leaders all our ports are full of pirates shey na Fg cause am?? If Buhari send army to the creek to clear our water ways will you not be the first to nail him?? Enough of the sentiments let's face fact our leaders have failed simply

This is the most reasonable comment I have heard from a SS/SE person for a long time. Instead of stating the obvious and holding their leaders accountable for their ordeals, the are here blaming every other person but themselves. It is only an irresponsible man that keep blaming every one else for his failures

6 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by fejicruz(m): 10:02am On Apr 16, 2016

Hahahahahaha. Osun State is not a company & it is workers they are owing salary.... Lol.

engrchykae:
AMCON should buy off osun state right away

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by Deen77: 10:05am On Apr 16, 2016

Ugo4ema2015:
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!

Sometimes you are forced to comment.

Do you know this first happen under Jonathan, this has nothing to do with the government is about loan from banks.

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Niseamaka(m): 10:10am 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!

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

You did not touch on the main issue: capital oil and gas inability to repair over 100 billion naira loan acquired from several banks. Keep popular tribal sentiments aside and tell me why the assets of any company who could not meet up with loan repayments should not be frozen temporarily pending the resolution of the issue.

3 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by fejicruz(m): 10:12am On Apr 16, 2016

Owing a bank is not the problem here. The actual problem is that your Ifeanyi Ubah has not been servicing the loan owed. Get that.

tankara1010:

The question is...Is Ifeanyi Ubah the only Billionaire owing bank? Why freeze all his accounts? How do you want him to continue to run his business? Stop being sentimental Otedola, Jimoh Ibrahim, e.t.c all owe banks way more than what Ifeanyi owes.

5 Likes 1 Share

Re: Court Freezes Ubah’s Capital Oil Accounts by shamecurls(m): 10:19am On Apr 16, 2016

Ibime:

Ranting of a typical ethnic jingoist and ignoramus with no clue as to the back story

In the banking crisis of 2009, Capital Oil was one of the biggest holders of toxic loans owing N100bln to the banks.

The CBN bad debt vehicle AMCON bought the loans to stabilise the banks, and now Capital Oil is unable to meet the finance charge of an obligation he signed, you are bleating like a castrated goat.

Thunder fire anyone who liked or shared the utter peabrained litany of ignorance you typed above.

Is is today that Ifeanyi Ubah became a thief and a 19? How about when he stole N21bln from Cosmas Maduka?

https://www.nairaland.com/1093865/ifeanyi-ubah-fraudster-cosmas-maduka

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 10:22am On Apr 16, 2016

Lot of under 20's on Nairaland. This guy borrowed a 100 billion Naira and refused to pay back since 2007 and you are here shouting wizard-hunting.

6 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by afonjay: 10:28am On Apr 16, 2016

Generalyemi:
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

u can imagine what dis dude is saying. I travelled to as far as kano is borno n sokoto I bought fuel at 86.50'kobo at filling stations but as close as port harcourt is to refinary I could not see fuel at rate of 86 50 kobo per lilter n u re to be. An IGBO man who was borned to cheat each other.

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by afonjay: 10:28am On Apr 16, 2016

Generalyemi:
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

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by gabbytabby: 10:30am On Apr 16, 2016

Generalyemi:
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

why does he owe so much to the bank then. Is he syphoning capial oil money to his personal offshore account.

4 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by chidozieikeji2: 10:34am On Apr 16, 2016

U can flog a child for a long time but not forever God is watching

Re: Court Freezes Ubah’s Capital Oil Accounts by modath(f): 10:42am On Apr 16, 2016

amedave:
Why do we southern talk like fools??, I am from delta state but please don't dare mention Asaba airport into the matter, have you gone there to see the state it is in after uduaghan sink billions of naira that could have been channeled & used better in other areas, go to the west & see some of there state government are busy developing seaport & free trade zone what are our lazy governors & senators doing ?? Enough stupidly from us, let's face our leaders all our ports are full of pirates shey na Fg cause am?? If Buhari send army to the creek to clear our water ways will you not be the first to nail him?? Enough of the sentiments let's face fact our leaders have failed simply

Thank you... EoD

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by modath(f): 10:44am On Apr 16, 2016

oyb:
Cosmas gets the last laugh now.

I'm sure the joker was building that stadium with money that should have serviced his loans, or worse via TAN money. We may still see him in armsgate

Please enlighten me, heard whispers but don't have a clear picture, thank you.

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 11:17am On Apr 16, 2016

modath:

Please enlighten me, heard whispers but don't have a clear picture, thank you.

https://www.nairaland.com/1093865/ifeanyi-ubah-fraudster-cosmas-maduka

https://www.nairaland.com/1098517/cosmas-maduka-how-ifeanyi-ubah

https://www.nairaland.com/1100866/coscharis-group-pure-water-business

tldr - Ubah met cosmas somewhere - gave the usual my business is struggling because i am being persecuted blah blah blah blah ; cosmas then uses his influence in access bank to help ubah secure loans to lift product. ubah however diverts the loan to capital projects.

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by Nobody: 11:21am On Apr 16, 2016

That's what you (Biafran) get, when you ignorantly don't know that you're a prince. But instead beg to dine with slaves (Hausas)

Re: Court Freezes Ubah’s Capital Oil Accounts by Positivist: 11:27am 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!

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

Did you read the part where it was said that the reason for the freezing is as a result of the heavy debt the company owes several banks?

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by creflo22: 11:37am On Apr 16, 2016

You guys should start ignoring this uninformed faceless people commenting. Ifeanyi ubah should even be in jail for punching and slapping the opponents of his team during a football match! The crime is called aggravated assault and in developed and sane countries with respect for the rule of law it attracts jail time!

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by diegwu01: 11:41am On Apr 16, 2016

Ibime:

Ranting of a typical ethnic jingoist and ignoramus with no clue as to the back story

In the banking crisis of 2009, Capital Oil was one of the biggest holders of toxic loans owing N100bln to the banks.

The CBN bad debt vehicle AMCON bought the loans to stabilise the banks, and now Capital Oil is unable to meet the finance charge of an obligation he signed, you are bleating like a castrated goat.

Thunder fire anyone who liked or shared the utter peabrained litany of ignorance you typed above.

Is is today that Ifeanyi Ubah became a thief and a 19? How about when he stole N21bln from Cosmas Maduka?

https://www.nairaland.com/1093865/ifeanyi-ubah-fraudster-cosmas-maduka

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by diegwu01: 11:45am On Apr 16, 2016

amedave:
Why do we southern talk like fools??, I am from delta state but please don't dare mention Asaba airport into the matter, have you gone there to see the state it is in after uduaghan sink billions of naira that could have been channeled & used better in other areas, go to the west & see some of there state government are busy developing seaport & free trade zone what are our lazy governors & senators doing ?? Enough stupidly from us, let's face our leaders all our ports are full of pirates shey na Fg cause am?? If Buhari send army to the creek to clear our water ways will you not be the first to nail him?? Enough of the sentiments let's face fact our leaders have failed simply

Word! thank you bro.

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by franugo(m): 12:12pm On Apr 16, 2016

tankara1010:

The question is...Is Ifeanyi Ubah the only Billionaire owing bank? Why freeze all his accounts? How do you want him to continue to run his business? Stop being sentimental Otedola, Jimoh Ibrahim, e.t.c all owe banks way more than what Ifeanyi owes.

Either u are purposely playing d fool card to lead us on or u are actually this stewpid in real life...question dt u r supposed to ask is who is n who is not servicing his/her loan{s}, not all these shit u r spewing here

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by obailala(m): 12:21pm On Apr 16, 2016

tankara1010:

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!

Take this your gutter 'victim mentality' and 'persecution complex' reasoning to the trash, N100billion is a lot of money. The report says someone has a major debt issue and all you can think of is marginalisation? Is he the first person to have his assets frozen due to loan defaulting? Should he be above the law because he is from a particular section of the country?... Tufiakwa for the resoning of an average Igbo youth (especially since GEJ days).

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by obailala(m): 12:35pm 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!

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

You must be one of the very many dull people out there who are incapable of using your God given brains to think, but rather have allowed yourself to be bound in mental slavery.

Today the reason why most shippers prefer the Lagos ports and run away from the southern seaports is because of security challenges, pirates, militants etc. The largest importers today in Nigeria are Igbos and they would rather use the Lagos ports for its relative security and peace of mind they derive. Security is the single biggest issue which killed the ports in the SS.

Now the Navy has been sent in to the Niger-Delta creeks to maintain security, you foolishly oppose this move and would prefer that criminal militants and pirates are allowed to operate freely, but you turn around to complain that the seaports in the SS are being allowed to die. You are indeed very unintelligent and confused and it is because people like you are in great numbers, that is what actually drags down the development of the potentially viable SS and SE.

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by AceRoyal: 12:49pm On Apr 16, 2016

birmingham04:
Most everything be political and witch hunting? Honestly,I weep for ipob youth. It is your tribe will say Hausa/ Fulani are bad people,it is same you again will say yoruba people are bad. Yoruba adage says and I qoute, If one person says hundred people behaviour is not good then that person should check him or herself thoroughly. Ipob are thorn in the flesh for the good people of this country. I am a yoruba man and I love Hausa/Fulani and I love Igbo people. Yoruba we are the sons and daughters of love and peace. One love.

FYI I'm not Igbo or an IPOB youth.
Don't judge based on assumptions,he has been having it really rough since this government came into power.
You claim to love all tribes but ur post has tribalism written all over it.
one love.

Re: Court Freezes Ubah’s Capital Oil Accounts by Guk: 1:06pm 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!

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

You and your fellows who clicked "Like and Share" are so ignorant, am sure you do not even know what AMCON means.

Ifeanyi Ubah is one of the greatest destroyers of our economy. He was owing Banks hundreds of billions of Naira. He refused to pay. To make sure the banks don't collapse, AMCON, bought his debts so that he can pay over time but he went to GEJ and got his company back plus billions of Naira for TAN. If you don't have a job today, he is one of the major causes as money meant for u and I from GEJ was dashed to him.

Ifeanyi Ubah is so chronic a debtor that even his fellow village man Cosmos Maduka..
Coscahris took him to court for duping him

His problem now has nothing to do with this Govt. This is a case that has been on for years which he has been dodging. Pls Google Ifeanyi Ubah and go and read about his ways and stop all these ignorant behaviour

3 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by wacoj(m): 1:08pm On Apr 16, 2016

I hear Esu's voice but In Jacob's body.

Northerners at it again...

Re: Court Freezes Ubah’s Capital Oil Accounts by gbishman: 1:19pm On Apr 16, 2016

This is a man who claimed to have the magic wand in changing the economic fortunes of the country with any theoretical evidence and now he can't even save

1 Like

Re: Court Freezes Ubah’s Capital Oil Accounts by modath(f): 1:21pm On Apr 16, 2016

oyb:

https://www.nairaland.com/1093865/ifeanyi-ubah-fraudster-cosmas-maduka

https://www.nairaland.com/1098517/cosmas-maduka-how-ifeanyi-ubah

https://www.nairaland.com/1100866/coscharis-group-pure-water-business

tldr - Ubah met cosmas somewhere - gave the usual my business is struggling because i am being persecuted blah blah blah blah ; cosmas then uses his influence in access bank to help ubah secure loans to lift product. ubah however diverts the loan to capital projects.

I have read & I'm just stunned!!

Cc Tankara1010 .... see dirty linen!!

Re: Court Freezes Ubah’s Capital Oil Accounts by ogmaskman: 2:37pm 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!

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

How gullible. Do you know the reason AMCON was established. Why not ask question bfor u confuse pple. I am sure you know but you would rather play to the gallery. How quick for you to jump to the defence of Uba via a vis the igbo nation. Apart from the infamous TAN project which other project (investment) has he blesséd the igbo nation with. How easy for you to see thru your myopic mind the deprivation of the igbo nation by the buhari led govt because one man has refused to pay back his loan.
We ddnt hear this kind of "patriotic" cry when the coaster rail project was removed and the money shared by even the southeastern sin-ators in the form of constituency project. Maybe the rail project isn't important afterall.
Let me not even go to the Niger delta issue u raised. I do not have all the time to purge ur obviously skewed mindset.
Back to AMCON. AMCON's duty is to buy bad debts and then find a way to get back their money. Capital oil and gas had a debt repayment issue with its creditors about 2 yrs ago. AMCON as a body set up by the govt to tackle such issues stepped in and bought the debt thereby invoking all relevant clauses. If for any reason capital oil fall short of any of the clauses, which in this case is very possible, AMCON will approach the law court for the protection of its investment.
Btw, Uba's albatross is a certain biafran, cosmas maduka. Broda, always strive for the truth because the truth shall set you free.
I won't go further than this because I might be flogging a dead horse here. Some pple only believe what they feel and not what is right or constitutional. Shallom.

3 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by spartanobad(m): 2:51pm On Apr 16, 2016

uduak2016:

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

M not surprised

wit the way our oil sector z going down, I think they need to b checked

Re: Court Freezes Ubah’s Capital Oil Accounts by ogmaskman: 2:55pm On Apr 16, 2016

Quakertellicus1:

True that...and AMCON was a creation of GEJ by the way.

Thank god GEJ did not win the election. Recall AMCON took over capital oil at some point but suddenly returned it back to uba bfor the elections. GEJ was a flight risk as the president of Nigeria. God!!! I can't say anymore.

2 Likes

Re: Court Freezes Ubah’s Capital Oil Accounts by jaxxy(m): 3:26pm On Apr 16, 2016

RockHard:

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!

He's not d only debtor within/outside d sector. Get real

Cc: Modath

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