Ifeanyi Uba’s Financial Woes Worsen, Sells Campaign Headquarter, To Collapse Campaign Into APC
https://247ureports.com/2021/10/ifeanyi-ubas-financial-woes-worsen-sells-campaign-headquarter-to-collapse-campaign-into-apc/
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As a caveat, Chief Uba who currently represents the south senatorial district in the Senate has been plagued with financial woes owing to large debt incurred by his numerous businesses.

In early 2020, Asset Management Corporation Of Nigeria [AMCON] threatened seizure of his assets owing to unpaid debt of N165.48billion as at January 2020. In Chief Uba’s response, he requested for the loan repayment to be restructured. He pleaded for a renegotiated payment schedule. The AMCON in a responding letter rejected the plea. The AMCON insisted the oil mogul pay up on his debt – less he will be faced with recovery actions. In particular, the AMCON instructed for Chief Uba to “provide a structured plan of how Capital Oil and Gas Industries intends to repay its indebtedness, in terms of source of repayment.” The letter is signed by Albert Nwanozie [Head of Legal Department] and Joshua Ikioda [Group Head, Enforcement].