Guys,
let's not trivialize this issue wt tribal or whtever sentiments. These subsidy fraudstars shld be brought to book. No soft landing 4 any one of them. I've spoken.
One love.

we finally get a suspect

and Nigerians bring Tribalism on this,

shameful

Every thief should face justice. Simple and short.

It appears that this has nothing to do with subsidy at all. It is about paying back loans from AMCON.

I hate all thieves. The Bible says that a good man borrows and pays back, while an evil man borrows and never pays back.

If this is how Ifeanyi Uba plans to run Anambra state if ever he becomes governor, then he has no business nearing our governors lodge at Awka.

All these money bags have the same problem - GREED.

Dude's from my town, but I ain't supporting no damn thief. Nonsense.

vladimiros:

we finally get a suspect

and Nigerians bring Tribalism on this,

shameful

I wonder ohh !!

Hmmmm, this same Pointblanknews.com that reported that Kabir Sokoto had been re-arrested (with vodoo)

If this is really true , then Jona must have finally grown some balls, glad to see nobody is getting the "sacred cow" treatment; he'll be needing some extra bodyguards and MOPOL escorts though.

Go Go Jona !!

If the subsidy scheme could give rise to earth shaking frauds like this then one wonders why Nigerians went haywire when the virus was expunge. Could it be that Nigerians were misled in believing that subsidy benefits the masses and not these crooks? Besides, this is just for kerosene. When are they going to give us the names of those fraudstars that operate in the PMS and AGO domains?

Point of correction guys!

I think the news agency that reported this news has mixed up the whole issue. Ifeanyi Uba's Capital Oil & Gas is being asked to payback loans owed to Nigerian Banks which the Banks have sold to AMCON.

I have worked in 3 banks in the last 6years and Ifeanyi Uba's Capital Oil owed all of them money that he has refused to pay back. He is a notorious borrower who doesn't pay back loans. He is one of the borrowers that brought down some banks. I am aware that as many as 3 banks have taken him to court before they sold their loans to AMCON. Perhaps, AMCON is giving him this ultimatum in the wake of the revelation of his earnings from petroleum subsidy. It is absurd that this guy earned that much from the FG and has refused to honour his obligations to Nigerian Banks.

re@lchange:

this is an email going round now

i suspect it prompted this action



IFEANYI UBAH SET TO FIGHT GOV. PETER OBI

Today, it is no longer a secret that the Anambra Oil magnet, Chief Ifeanyi Ubah  is  set to  replace Gov. Peter Obi as the Governor of Anambra State.
He has been telling his friends that he was ready to spend whatever it will take to achieve his ambition for which he had set aside the initial N20, 000,000,000 Billion  and he is working seriously towards that.
To get the support of the people, he has floated a foundation through which he is supporting the poor, building churches, subsidising kerosene, helping the widow and all manner of philanthropy.
Chief Austine Ndigwe, (Uzu Awka and Ozo Gidigbam Gidigbam) his right hand man said that Ubah had already secured the support of Rochas Okorocha, whom he made the Governor Single handedly. He said that the Oil magnet is unhappy that his own Governor is not supporting him, but he said they had a good weapon they would use against him if every effort to get his support failed.
Uba has the support of the following, who are also on his monthly pay roll for the project:
a.     Chief Victor Umeh (APGA National Chairman)   N10,000,000
b.     Chief  Austine  Ndigwe, Uzu Awka                          N10,000,000
c.      Mr. Alfred Nwosu                                                          N5,000,000
Others he feels that may be in a position to help are also on his pay roll, including some vociferous clergy men of all denominations.
NOW THE WAR
Uzu Awka said Ubah   confided in them how  Obi would kneel down and beg him at the appropriate time. How he paid N25, 000,000 (Twenty-Five Million Naira) to the former Lagos State Commissioner for Police, Mr. Marvel Apkoyibo to set Obi up. Do you still remember the $250,000,000 (Two hundred and Fifty Million Dollars) and N250, 000,000 (Two hundred and Fifty Million Naira) his people were apprehended with while transporting it from Awka to Lagos.
Uzu Awka  said that Obi did not know that the ADC in question,  was the one Ubah used to do dirty deeds in Lagos and that it was Ubah who planned for him to be sent to Anambra as Obi’s ADC.  “The man think he is clever not knowing that Anyi had already paid his former ADC,   N3, 000,000 (three Million Naira) for him and his boys to spy at his every move and he succeeded.” he said.  
What will Obi Need him for?
According to Uzu Awka,  Ubah  informed him  that Akpayibo had already given   him the entire video of the $250,000,000 (Two Hundred and Fifty Million Dollars)  and N250,000,000 (Two Hundred And Fifty Million Naira) episode containing:
a.     When the money, local and foreign currencies, were loaded in Awka
b.     When the money was being of-loaded in Lagos
c.      Where Governor Obi was kneeling down and begging the Police Commissioner to only disclose the Naira component and allow him keep the $250, 000,000 Dollars, (Two Hundred and Fifty Million Dollars), which he agreed after he was given $10,000,000 (Ten Million  Dollars) out of it.
Uzu Awka  boosted that the tape is with Governor Rochas Okorocha, himself, victor Umeh and Alfred Nwosu.
Uzu Awka further revealed that they had got the Accountant General of Anambra State, who confirmed that  Gov. Obi has one of the cheque books  of Anambra State Government in his possession , which he uses to withdraw the money he changes into dollars.
He said they also heard how Obi withdrew the sum of 5, 000, 000  Pounds (Five Million Pounds) he said was for the payment of Ojukwu’s hospital Bill, When the actual bill was just 500,000 Pounds (Five Hundred Thousand Pounds).
Ubah, according to Uzu Awka,  has documentary evidence of all the properties Obi bought in different parts of the world. He went on to name some:
a.     Block of flat at Dubai bought for $10,000,000 (Ten Million  Dollars)
b.     Block of flats at Singapore bought at  $12, 500,000 (Twelve Million, Five Hundred Thousand Dollars)
c.      A detached building at Atlanta, Georgia at $6,500,000 (Six Million, Five Hundred Thousand Dollars)
d.     A flat at Manhattan, New York, $8, 250,000 (Eight Million, Two Hundred and Fifty Thousand Dollars)
e.     A Holiday Resort  at   Bahamas for which he paid $4, 500, 000 (Four Million Five Hundred Thousand Dollars)
Uzu Awka said  the moment Obi knew that Ubah has a lot on him, he quickly visited him in his Abuja home  knelt down and begged him not to expose him.
Ubah, Uzu Awka said further, was particularly angry that Obi, in spite of his hands of friendship, is bent on handing over to a known drug courier.
Ubah’s Plans
Uzu Awka revealed how Ubah had concluded arrangement working with the Presidency and EFCC of how Obi’s immunity would be waived for his arrest if he does not support Ubah. He also talked about the arrest of his wife and Commissioners by the EFCC.
Uzu Awka talked of how they got Obi’s Commissioner for Finance, Eze  Echesi to support them, because he had been promised that he would be retained and made the coordinating Commissioner for the Economy of Anambra State. Anambra’s version of Nigeria’s Okonjo Iweala. He said he had been quite helpful, giving then photocopies of sensitive documents that they will use ti nail Obi’
As for the SSG, who wants to be the Governor, Uzu Awka  said the poor man saw the force  Ubah was coming with and had already agree to serve as his Deputy instead. Though the man is old, he said it would be strategic to use him and placate his people who were promised to produce the next Governor.  

Johnson Eze

This is the apogee of JUNK journalism. The only point the stewpid report is trying to make is that Peter Obi kneels down to beg every tom, diiick and Harry at the drop of a hat. Isn't that farcical?

Abegi leave bible out of your deception. They side-step on their initial boasting on how every Igbo man is hardworking and other tribes are the oil cabals.

Shameless Eze Ndigbo of Nairaland. Bigots!

Onlytruth:

Every thief should face justice. Simple and short.

It appears that this has nothing to do with subsidy at all. It is about paying back loans from AMCON.

I hate all thieves. The Bible says that a good man borrows and pays back, while an evil man borrows and never pays back.

If this is how Ifeanyi Uba plans to run Anambra state if ever he becomes governor, then he has no business nearing our governors lodge at Awka.

All these money bags have the same problem - GREED.

Dude's from my town, but I ain't supporting no damn thief. Nonsense.

re@lchange:

this is an email going round now

i suspect it prompted this action



IFEANYI UBAH SET TO FIGHT GOV. PETER OBI

Today, it is no longer a secret that the Anambra Oil magnet, Chief Ifeanyi Ubah is set to replace Gov. Peter Obi as the Governor of Anambra State.
He has been telling his friends that he was ready to spend whatever it will take to achieve his ambition for which he had set aside the initial N20, 000,000,000 Billion and he is working seriously towards that.
To get the support of the people, he has floated a foundation through which he is supporting the poor, building churches, subsidising kerosene, helping the widow and all manner of philanthropy.
Chief Austine Ndigwe, (Uzu Awka and Ozo Gidigbam Gidigbam) his right hand man said that Ubah had already secured the support of Rochas Okorocha, whom he made the Governor Single handedly. He said that the Oil magnet is unhappy that his own Governor is not supporting him, but he said they had a good weapon they would use against him if every effort to get his support failed.
Uba has the support of the following, who are also on his monthly pay roll for the project:
a. Chief Victor Umeh (APGA National Chairman) N10,000,000
b. Chief Austine Ndigwe, Uzu Awka N10,000,000
c. Mr. Alfred Nwosu N5,000,000
Others he feels that may be in a position to help are also on his pay roll, including some vociferous clergy men of all denominations.
NOW THE WAR
Uzu Awka said Ubah confided in them how Obi would kneel down and beg him at the appropriate time. How he paid N25, 000,000 (Twenty-Five Million Naira) to the former Lagos State Commissioner for Police, Mr. Marvel Apkoyibo to set Obi up. Do you still remember the $250,000,000 (Two hundred and Fifty Million Dollars) and N250, 000,000 (Two hundred and Fifty Million Naira) his people were apprehended with while transporting it from Awka to Lagos.
Uzu Awka said that Obi did not know that the ADC in question, was the one Ubah used to do dirty deeds in Lagos and that it was Ubah who planned for him to be sent to Anambra as Obi’s ADC. “The man think he is clever not knowing that Anyi had already paid his former ADC, N3, 000,000 (three Million Naira) for him and his boys to spy at his every move and he succeeded.” he said.
What will Obi Need him for?
According to Uzu Awka, Ubah informed him that Akpayibo had already given him the entire video of the $250,000,000 (Two Hundred and Fifty Million Dollars) and N250,000,000 (Two Hundred And Fifty Million Naira) episode containing:
a. When the money, local and foreign currencies, were loaded in Awka
b. When the money was being of-loaded in Lagos
c. Where Governor Obi was kneeling down and begging the Police Commissioner to only disclose the Naira component and allow him keep the $250, 000,000 Dollars, (Two Hundred and Fifty Million Dollars), which he agreed after he was given $10,000,000 (Ten Million Dollars) out of it.
Uzu Awka boosted that the tape is with Governor Rochas Okorocha, himself, victor Umeh and Alfred Nwosu.
Uzu Awka further revealed that they had got the Accountant General of Anambra State, who confirmed that Gov. Obi has one of the cheque books of Anambra State Government in his possession , which he uses to withdraw the money he changes into dollars.
He said they also heard how Obi withdrew the sum of 5, 000, 000 Pounds (Five Million Pounds) he said was for the payment of Ojukwu’s hospital Bill, When the actual bill was just 500,000 Pounds (Five Hundred Thousand Pounds).
Ubah, according to Uzu Awka, has documentary evidence of all the properties Obi bought in different parts of the world. He went on to name some:
a. Block of flat at Dubai bought for $10,000,000 (Ten Million Dollars)
b. Block of flats at Singapore bought at $12, 500,000 (Twelve Million, Five Hundred Thousand Dollars)
c. A detached building at Atlanta, Georgia at $6,500,000 (Six Million, Five Hundred Thousand Dollars)
d. A flat at Manhattan, New York, $8, 250,000 (Eight Million, Two Hundred and Fifty Thousand Dollars)
e. A Holiday Resort at Bahamas for which he paid $4, 500, 000 (Four Million Five Hundred Thousand Dollars)
Uzu Awka said the moment Obi knew that Ubah has a lot on him, he quickly visited him in his Abuja home knelt down and begged him not to expose him.
Ubah, Uzu Awka said further, was particularly angry that Obi, in spite of his hands of friendship, is bent on handing over to a known drug courier.
Ubah’s Plans
Uzu Awka revealed how Ubah had concluded arrangement working with the Presidency and EFCC of how Obi’s immunity would be waived for his arrest if he does not support Ubah. He also talked about the arrest of his wife and Commissioners by the EFCC.
Uzu Awka talked of how they got Obi’s Commissioner for Finance, Eze Echesi to support them, because he had been promised that he would be retained and made the coordinating Commissioner for the Economy of Anambra State. Anambra’s version of Nigeria’s Okonjo Iweala. He said he had been quite helpful, giving then photocopies of sensitive documents that they will use ti nail Obi’
As for the SSG, who wants to be the Governor, Uzu Awka said the poor man saw the force Ubah was coming with and had already agree to serve as his Deputy instead. Though the man is old, he said it would be strategic to use him and placate his people who were promised to produce the next Governor.

Johnson Eze

So there's a political dimension to it?

Response from Ifeanyi Patrick Ubah

I have read with grave disappointment the rumors making the rounds more particularly that of Nigeriapoliticsonline, Pointblanknews and others.
I wish to state categorically that the rumors are unfounded and mere calumny. These are deliberate fallacies being propagated by charlatans and disgruntled elements to smear my well earned good image.

Ifeanyi Patrick Ubah
MD/CEO Capital Oil and Gas Ind. Ltd

Culled from
http://www.odili.net/news/source/2011/sep/2/17.html

Friday, September 2, 2011
[size=16pt]Utomi:Ifeanyi Ubah and the spirit of enterprise[/size]

By [size=14pt]Pat Utomi[/size]


THE biggest threat to Nigeria's Generation Next is the pace of Job Creation.  Surely investment in the social sectors, education and health, as well as infrastructure is critical in this race against time, if the tremendous potential of a demographic dividend is to be harvested. One other very valuable ingredient is the spirit of enterprise and a flowering of a tradition of entrepreneurship.  This is why I have been obsessed with this subject for two decades now.

A few years ago, I met a young man that was made of the right stuff.  He seemed so simple and personable but short conversation revealed a will of steel.  He was introduced as Ifeanyi Ubah. His enterprise, Capital Oil, would soon jump at me from advertisements at the airport, and press clips of Commissioning of tank farms.

I was intrigued enough to get my research assistant to begin initial research for a case study on Ifeanyi Ubah and Capital Oil. One of the first pieces of amazing information for the case was that Ifeanyi was a good two years away from his 40th birthday. That big anniversary of birth is up today. What's of value about Ifeanyi Ubah on his 40th birthday. A few years ago, I wrote a tribute on these OPED pages about another rite of passage.

It was on the occasion of the demise of a Japanese entrepreneur Maseru Ibuka He and a friend, Akio Morita, were discharged from the Japanese Navy as 25 years old with less than $500 available between them. They had a burden - the world wide image of Japanese products as inferior. The audacity of their belief, that they could change that, resulted in a company that would gain a legendary reputation for quality - SONY.

I saw Ibuka in Ifeanyi Ubah at that first meeting. If Morita would go on to achieve the legend of being the paramount salesman of the 20th century, I wondered if Ifeanyi Ubah had a partner with similar complementary endowments.  I would not find an exact duplicate but his partnership with his wife who is an executive in the business provided something to compare with the Japanese duo.

The sense I had in getting a case written on Capital Oil was almost déjà vu.  More than a dozen years ago I had written what was perhaps the first case on Aliko Dangote and the company when he Aliko was still thought of as trader leveraging a culture of crony capitalism.  Could the Ubah case pre-figure things to come in the way the Dangote case did, I wondered.

The real reason I respond with the passion I do to such entrepreneurs indeed came out in a conversation with Aliko Dangote and the Transcorp Chairman, Lawal on a flight from Abuja a few months ago.  Unless we can create one to two hundred people creating jobs at a rate similar to or greater than the Dangotes,  Nigeria was going to pay a high price with the revenge of the poor and the looming anarchy consequent upon these social disruptions from those denied opportunities, with sentence to poverty as a result.

Anxiety about a Nigeria without the Spirit of enterprise in ascent has led me to business angel roles and my pioneering the teaching of entrepreneurship at the Lagos Business School. But in no way has fulfillment in those roles compared with the elation of coming into contact with someone with the spirit of enterprise and the discipline to navigate the challenging waters of entrepreneurship.

Ifeanyi Ubah was for me a subject of high value for these reasons.  As he turns 40 today my great hope and the prayer is not only that he institutionalizes at Capital Oil in a way that will make it built to last, and last for generations, but also that he inspires many more young men and women to give themselves to wealth creation.

From early in the day I found Ifeanyi Ubah's passion for helping uplift others to begin to translate into a Corporate Social Responsibility Initiative remarkable for early days of an entrepreneurial venture.

To come out of the big challenge to downstream oil marketing in times of severe uncertainty, which has crippled many players in the sector, in such a strong competitive position as to be a market leader, with assets, in several areas that far outstrip much older competitors, both multinational and indigenous, is a remarkable feat.  To do so before one's 40th birthday is to bring new meaning to accomplishment. As Ifeanyi Ubah celebrates 40 eventful years in existence I cannot but hope for more grease to his elbows and much more fruitfulness to his venturing.  Tomorrow's children need more of such and it is for their sakes that popping champagne for Ifeanyi Ubah at 40 is worth doing.

In some parts of Nigeria it is said that when a child washes his hands well, he will dine with elders.  Ifeanyi Ubah has been dinning with elders for some time.  It shows how well he has washed his hands.

Happy Birthday is therefore in order.

* Prof. Utomi, Pioneer teacher of Entrepreneurship at LBS, founded the Centre for Values in Leadership.

If Uba is to repay 5billion, How much would Otedola and Dantata repay?Federal govt paid AP, over 220 billion naira in subsidy money according to sanusi.Same goes for MRS, Uba's capital oil collected a paltry 30 billion .Who is fooling who ?

Hmmm, wht abt al oda big boys in d cabals, dantata,otedula n d rest.
Gues ifeanyi uba is jst being played with,as an escape goat.

Cupidkc:

Hmmm, wht abt al oda big boys in d cabals, dantata,otedula n d rest.
Gues ifeanyi uba is jst being played with,as an escape goat.

Oh I see

the case is not about ify uba, it is about d corrupt system we have in the country. If you have any fact and evidence on Dantata, Otedola and  co. Present it and make it public

Is this article about subsidy repayment or loan repayment? This has nothing to do with FG in terms of subsidy payment, that will come later. The article is about repaying a business loan, and not a political loan. If he was able to secure such loan, got subsidy funds(free money), then he should be able to pay it back. I clearly don't understand the political victimization here. Negotiate with AMCON if thats what you need to do, but dont play the political card when the game is up.

Has he paid? The fraudulent practice still continues till today! Nigeria will soon collapse if urgent steps are not taken to stop these bucanners!