₦airaland Forum

HNosegbe: I see someone has been dreaming about a summer world cup trip to Brazil.

*Next thread*

that dream will definitely come through if ifeanyi ubah wins

HNosegbe: I see someone has been dreaming about a summer world cup trip to Brazil.

*Next thread*

my broda that one na small thing ifeanyi ubah would send some eligible anambrarians to the uk, us, brazil etc to study, live and work he has the interest of the people @ heart so vote ifeanyi ubah cum november 16

owolabifunke14: Am not a guy and am not in ur state. I just wan run mouth for d thread small. Anyway,who know weda u go marry me come tek me to anambra lol

my dear you for tell me say you dey find husband niii no vex na about ifeanyi ubah we talk here se oti gbo

owolabifunke14: He go change dis tin price?

my broda not just changing the prices of the items u have on your post but making it available and surplus imagine a man paying over 10,000 workers apart from his campaign promises,guy its better you support him and give power to the youth

FreeGlobe: ^
if you believe this world cup illiterate has a shot at governing Anambra you should also believe am currently richer than Bill Gates.

my dear its not how far but its how well you may call him a world cup illiterate you own your mouth but the closer you come to the pot the better part of the aroma you perceive so support ifeanyi ubah for a brighter and better anambra cum 2013

nwabobo: Ifeanyi Ubah's governorship ambition is dead on arrival.


Please he should resolve his issue with Cosmas Maduka of Coscharis and pay off his debt to Access Bank first, if he wants people to take him seriously.

The Sun Newspapers: President of Coscharis Group, Dr. Cosmas Maduka, returned to the country at the weekend to throw more light on the raging loan saga with Capital Oil and Gas Limited, vowing that he would use every legitimate means at his disposal to recover the debt owed him by Capital Oil boss Ifeanyi Ubah.

“I will collect my money to the very last kobo,” Maduka said on a breach of contract between his company and Capital Oil which he said culminated into a loss running into billions of naira. But in a swift reaction, Ubah told Daily Sun in a telephone chat that he would no longer join issues with anybody on the matter since he had taken both Maduka and Access Bank to court over the transaction, this is even as he alluded to a plot by the bank to use the Cosharis boss to take over his Capital Oil assets.

“The case is already a subject of litigation in court and I don’t want to comment on it,” Ubah said. “But I know that the target is my business; they want to take over my assets and they would stop at nothing, including lies to achieve their target,” Ubah added. According to Maduka, his company Coscharis Group had entered into a Joint Venture (JV) deal with Capital Oil for the purpose of importing and distributing Premium Motor Spirit (commonly called petrol).

Maduka said his foray into the fuel business with Capital Oil was necessitated more by compassion to bail the young Ubah out of a credit crunch crisis as most Nigerian creditor institutions had refused to advance him any form of loan for his business. Vibrant Venture Limited was subsequently appointed as a warehousing agent for the joint venture partnership.

Maduka claimed after the joint venture deal was sealed, both companies were able to secure a loan from Access Bank for the importation of Premium Motor Spirit, but he alleged that Ubah and his company breached the terms of the deal by engaging in the diversion of the imported products and other fraudulent activities which had marred the ability to execute the joint venture deal as a profitable establishment.

“Capital Oil’s diversion of these products in collusion with the Shippers has made the repayment of the facility schedules to come from sales proceeds impossible,” said Maduka. “Accordingly, the exposure to Access Bank Plc stands at about N21billion while interest rate accrues. Capital Oil has also refused to release the 56,568,587.11 litres of PMS in the designated tank farm for this transaction under the management of our warehousing agent in its tank farm, for disposal to facilitate payment of our financial obligation to Access Bank,” he added.

Maduka who hails from the same Nnewi, Anambra State, as Ubah said he had to report the younger businessman to the Special Fraud Unit (SFU) when every effort to get Uba to live up to his contractual obligations in respect of the petrol import deal (including a meeting called by the traditional ruler of their town) failed to get Uba to the round table to sort out the matter.

Maduka showed Daily Sun various documents sourced from regulatory agencies to back up his allegations that Capital Oil did breach its terms of contract by not executing the letters of credit it collected for importing and discharging products in Nigeria so it could make claims to be re-imbused by the government under the fuel subsidy scheme.

“These products did not arrive,” Maduka said of the breached contracts. “And when Capital Oil was asked for the whereabout of the products, no satisfactory answer was provided,” he added. Ubah acknowledged Access Bank as its creditor “financing over 70 per cent of its importation” deals. Ubah who honoured an invitation by the Special Fraud Unit of the Nigerian Police on October 9 was detained till October 19 due to allegations of corruption – collecting subsidy funds without importing products – brought against his company by the Presidential Committee.

Ubah’s Capital Oil however absolved itself of any form of corrupt act, noting however that the Access Bank chief lacked the moral credibility to probe an industry in which he was also an operator with equity stakes in some of the oil importation firms, just as it alleged that Access Bank stood the greater chance of taking over its assets if its CEO, now auditing the industry, was left to have his way of barring the government from settling fuel subsidy debts owed the firm over a long period of time.

Such delay translates to the accumulation of more debts as the oil firm is inhibited from timely settlements of its debts to the bank and with more interest default payment fines coming, in the company could go bust, thus paving the way for a creditor to take over.

According to records initially released by Ubah’s aides, the company is owed about N14 billion in subsidy refund (otherwise known as Sovereign Debt Notes, SDN) while the monthly interest on the N21 billion loan secured through Coscharis is put at about N380 million “The allegations are spurious, they border on the absurd and merely intended to pull us down in order to achieve Aig-Imoukhuede’s dream of aiding his company – Access Bank – to frustrate our business activities and take over our company,” said the oil firm. It noted that the bank checked every stage of the importation process to satisfy itself that the importation was actually carried out.

In effect, the investigation that Mr Aig-Imoukhuede is currently carrying out on Capital Oil is an indirect investigation of his bank. “ Given the present circumstances, we strongly believe that it is most unethical and contrary to natural justice, equity and good conscience for Aig-Imoukhuede to continue to chair any committee charged with the responsibility of verifying the subsidy refund claims. “Because his bank is part and parcel of the whole transactions having financed them and, therefore, stands to benefit from any prolonged delay in the payment of the subsidy refunds to us.” But all these do not seem to impress Maduka.

According to him Aig-Imoukhuede’s character and integrity can never be faulted. He insists Ubah is just throwing so many things into the fray to confuse the public and divert attention from what the questions really are. He should tell us: where is the consignment for which he drew on the letter of credit? We have evidence to show that the consignment was shipped, we have the bill of lading, but there is no record to show that the products ever got to Nigeria. If they did, let him show us the documentation”, Maduka maintained.

The Coscharis boss said the claim that the bank processed and received the SDN for the missing four shipments is a different kettle of fish and does not prove that the shipment ever got in. He said that of the 10 Letters of Credit opened for Capital Oil, Ubah only partly delivered on the first six while the last four simply vanished. What that means is that, of the 377,400,033 litres of petrol paid for, only 197,093,412 litres was delivered. The rest which left their country of origin for Nigeria since September 2011 have yet to arrive. To this development, Maduka says: “we have comprehensive insurance for the consignment. If it sank with the ship or got burnt on the way, let him provide the details so we can file for claim with the insurance company.

It is even more understandable if the shipment came and they said the product was contaminated or substandard, or even got caught up in the exchange rate somersault and he, therefore, sold at a loss. I can understand all that. What I can’t understand is this idea of the entire consignment disappearing into thin air”. Producing document after document on the details of the transaction that allegedly saw him borrowing money for Capital Oil and how the entire transaction was properly structured from the onset, Maduka lamented: What this means is that I am losing N21 billion and somebody says I should keep quite! I will get my money, even if it is the last thing I do. I am ready to die doing just that”.


http://sunnewsonline.com/new/cover/capital-oil-crisis-my-case-against-ifeanyi-ubah-by-coscharis-boss/




LAUDATE I CAN SEE THAT YOU ARE OUT OF DATE PLEASE VISIT THE SAME NEWS LINK YOU POSTED AND READ WHAT PEOPLES OPINION ARE IN RESPECT TO THE DEBT ACCUSATION

ik4life thank you very much for supporting the truth support ifeanyi ubah for governor 2013 and anambra will be a better place for us all

2014: ‘Ubah ’ll transform Anambra to modern state’


As Anambra State prepares for November 16, gubernatorial election, one of the leading businesswomen in the state, Mrs. Ifeoma Akabueze has revealed why the chairman of Capital Oil, Mr. Ifeanyi Ubah will coast home to victory.

In an interview with VINCENT KALU, Mrs. Akabueze, who is also Deputy chairperson of SAKAB International Company Limited, said that Ubah is the new face of Anambra and stands shoulder higher than other aspirants.

Excerpts:

What is your assessment of the 41 governorship aspirants for Anambra election?

I don’t play partisan politics, but that does not mean that as a very successful businesswoman, I am ignorant of all that has been happening in Anambra State and the country politically.

Let me tell you that I have been following all the political activities in the state and the country generally. It is not that I am a novice I have just been waiting for the right and appropriate time to talk. The right time has come because the eagle has eventually landed, I can now talk.

After a careful study of all the aspirants, I feel the right man for the job is Dr. Patrick Ifeanyi Ubah. The others are also qualified but Ubah stands shoulder higher than them because of his antecedents. He is the only new face among the aspirants.

He is going to reposition the state and wipe out tears from the eyes of the less privileged, especially the women and youths. He will bring down the dividends of democracy to the grassroots and with his new face, he will transform the old face of Anambra State politically and economically.

When I said he is the only aspirant with a new face among the other 41 in the race, it is not a joke. Many of them have at one time or the other held highly exalted positions in Anambra State and in the nation’s polity. But what have Anambra people got to show for it? Nothing. What did they benefit from them? Nothing. What the good people of Anambra State need now is a leader with a new face that will change and transform the old face of Anambra State and I think there is one already in the person of Ifeanyi Ubah.

Anambrarians don’t need to search further, let them both home and abroad, especially the women and the youths come out enmass and demonstrate their love and support for him by voting massively for him and his Labour Party so that we can get what we are bargaining for.

Is Labour Party a strong platform to actualise this ambition?

Even though I don’t play partisan politics that does not mean I am not following the recent happening politically in the state and Nigeria generally.

I am sure he did a thorough research before joining Labour Party. He did not just decide to pitch his tent with LP like that. He must have consulted many seasoned politicians and a thorough research might have been carried out before he finally joined the party. Even at that, we have been following what is happening in our political parties today in Anambra and the country.

All the other political parties in Anambra State are in crises. Anambra PDP presently has three factions, with three factional leaders claiming chairmanship position of the party. When primaries come, which of the factions will produce the governorship candidate for the party and how will they reconcile that?

Again, if you go to APGA, it is the same story. Which of the factions will present the governorship candidate? Is it Victor Umeh’s faction or Governor Peter Obi’s faction? So, it is the same in APGA if not worse than that of PDP. The new APC is still struggling and battling to get registered as a political party after the opposition parties merged. So the only political party in Anambra State today that does not have squabble, in fighting or crisis is the Labour Party. It is the only party in Anambra that you will see sanity; that is crisis free. The party is so cohesive. Members are together with one mind and spirit.

If a party is going for an electoral war and there is already an internal war as is the case of those parties, I mentioned earlier, don’t you think it will be extremely difficult if not impossible for it to get victory at the polls? Labour Party in Anambra State is coordinated and there is cohesion at a very high level of existence and that is all a political party needed to secure victory at the polls.

It is believed in Nigeria that people aspire to political offices to make money

I quite agree with that general belief and opinion. It is very, true. That is why when we are electing our leaders we have to be very careful. Don’t be carried away. Study the past record and the background of the person you are electing. If you mistakenly elect a hungry or a greedy person as a governor, what do you expect in return? May be people sponsored him. Do you think that such a governor will ever want to be a hungry man in his life again? Or do you expect him not to do the bidding of people who sponsored him? It is impossible. He must enrich himself and his sponsors will loot the state treasury dry to the detriment of innocent masses who voted for him. The electorate has mistakenly armed such a person to acquire maximum wealth for himself and his entire relations for life to the detriment of the poor masses.

But when you elect a successful and fulfilled man with ideas like Ubah, what is he going to steal that he has not seen or had? It is very important to note that Ubah sits on top of many great, successful, flourishing and blue chip companies as the board chairman.

He has created enough wealth for himself and his families, which his children will not be able to finish. So I am quite sure that the Ubah I know is not going there to acquire more wealth, because he had already acquired great wealth. His interest is selfless service and human resources development that he is already seriously involved in.

mekaboi listen to me he is right,those governors under the parties with an image of a non-living thing what have they been doing ? listen to me you are the image of what you represent DR PATRICK IFEANYYI UBAH is not a chicken nor act like one hes not a broom nor act like one and if you may knw DR IFEANYI UBAH has a degree in public relations so stop wagging ur tongue on wat u dnt knw.

deprofessional to mention but a few ifeanyi ubah has many mouth watering agendas for anambra state imaging where each local government in anambra state will be equiped with factories and companies to provide jobs for the masses imagine a state where education will be free to the highest level my dear if i begin to count them it might take so long to finish.
DR PATRICK IFEANYI UBAH was the first man that single handedly released over 400 nigerian prisoners detained in chinese prisons and airlfted them to lagos
He alone chatered an aeroplane that airlifted youth corpers trapped by the bokoharam insurgence from the north to their various destinations
DR PATRICK IFEANYI UBAH have provided employment for over ten thousand Nigerians in his industry.

my dear wat else do u need to hear as to know that ifeanyi ubah is the right man for this job

KINGBANG WE AINT HERE TO XCHANGE SOME BULLSHIT WE ARE HERE TO SUPPORT OUR BROTHER,MENTOR,FATHER,AND GOVERNOR TO BE DR PATRICK IFEANYI UBAH SO DONT BE ON THE WRONG SIDE BECAUSE WETHER YOU LIKE IT OR NOT IFEANYI HAS WON ALREADY THANK YOU

kingbang this shows that you dont know dr patrick ifeanyi ubah at al because if you do,you should know that he is an embodiment of knowledge he has a degree on public relations and when it comes to politic no be today dr patrick ifeanyi ubah start so instead of wombling your mouth anyhow why not come and ensure your future and vote Dr ifeanyi ubah cum novenber 2013

mekaboi you be papa ajasco ooooo na money u wan come chop may God help u ppppp

MY dear trafik your vote truly counts he truly needs it

MY dear trafik and mekaboi we are not talking of area of specialisation here but what anambra can achieve with the political vision Dr ifeanyi ubah has for them trafik listen let me tell you ifeanyi ubah has been helping people through his investment even before aspiring for governorship seat.ifeanyi ubah knows politics to the core so lets give him our support of votes so that anambra can grow again

MEKABOI IT MAKES HIM FIT FOR GOVERNORSHIP RACE BECAUSE IT SHOWS HOW SINCERE AND HARDWORKING HE IS DR IFEANYI UBAH IS INFACT THE ONLY FIT CANDIDATE FOR THAT POST SO COME OUT SUPPORT HIM WITH YOUR VOTES THANK YOU

Fuel subsidy: Group hails verdict
Our Reporter July 26, 2013 1 Comment »
Fuel subsidy: Group hails verdict

…Says, it’s victory for Ifeanyi Ubah

A Non-Governmental Organisation (NGO), the Centre for the Rule of Law, Equity and Justice (CRULEJ), has hailed yesterday’s judgment of the Federal High Court in favour of the Managing Director of Capital Oil and Gas, Dr. Patrick Ifeanyi Ubah, describing it as a “sweet vindication and victory for the rule of law”.

The court barred the Economic and Financial Crimes Commission (EFCC) from arresting and investigating Ubah over the fuel subsidy regime.

In a statement issued in Lagos by its Executive Director, Comrade Jamiu Agbabiaka, the group said: “The judgment has shown that Ubah is a clean businessman, who never soiled his hands. He acquired his wealth by a dint of hard work and the blessings of the Almighty God. He did not need to cut corners.”

The statement reads in part: “This latest verdict has shown that truly the judiciary is the last hope of the common man.

The course of justice has once again been served – and served very well. It is a sweet vindication for Dr. Patrick Ifeanyi Ubah who has always maintained his innocence in the fuel subsidy racket.

It is also victory for the rule of law. “We can only hope that his detractors will respect the court verdict and stop harassing him with the Economic and Financial Crimes Commission (EFCC), Special Fraud Unit (SFU) of the Police and other security agencies.”

The group accused a senator from Anambra State, who served as a domestic aide to a former President of boasting that “he will do everything within his powers to frustrate Ubah from realising his governorship ambition, including using the EFCC where he claims to have facilitated the appointment of its chairman.”

The statement added: “While we do not say anyone found culpable of an offence should not be punished, we shudder to think what will be the gain of a man if he dissipates so much energy and resources in plotting the downfall of another, all in the name of politics.

Pray, is this how he wants to expend the ill-gotten wealth he amassed in his heyday? “Conversely, Dr. Patrick Ifeanyi Ubah is an employer of labour who has distinguished himself in the private sector. His company is said to be responsible for 25 per cent of petroleum utilisation in the country.

We recall his “Kero Direct” initiative through which he sold kerosene to the indigent at rock bottom price. He has touched the lives of millions of people from the sweat of his brows. “His decision to venture into public office is meant to replicate in Anambra State what he has done in his private business.

He seeks to use his wealth of experience to revolutionise the economy of the state and empower its people, so they can take their rightful place in the scheme of things.”

The group appealed to those it described as “Ubah’s enemies to leave him alone”, saying he is a typical Anambra person – sophisticated and hard-working – who loves his people.
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ASHA 80 IF YOU KNOW IFEANYI UBAH YOU WONT BE TALKING LIKE THIS LISTEN DR PATRICK IFEANYI UBAH HAS COME TO TAKE ANAMBRA AND YOU TO THE NEXT LEVEL OF DEVELOPMENT SO COME OUT AND SUPPORT HIM WITH YOUR VOTES THANK YOU

igbo son my brother thank you for your comment it shows you really know ifeanyi ubah but one thing you should know is that everybody has a place they always fault nobody is perfect but together we stand strong all he needs now is our vote and support lets come out in mass and accept freedom and security for anambra state cum november 16 2013 vote dr ifeanyi ubah

nwabobo whether you like it or not ifeanyi ubah has already succeeded so for your own benefit its better you come and support him so that you will breath a breathe of fresh air in anambra state

chino listen let me tell you DR PATRICK IFEANYI UBAH IS A DEGREE HOLDER IN PUBLIC RELATIONS AND WHEN IT COMES TO VOCATIONAL AND ORAL DISPENSATION HE COMES OUT FIRST ON THAT ATLEAST HE GETS INTERVIEWED AND COMES OUT FLAWLESS MY DEAR THIS YOUR SO CALLED PETER OBI IS TAKING GLORY FOR WHAT SOMEONE ELSE HAS DONE HE IS ONLY THERE TO SQAUNDER AND SYPHOON OUR MONEY HOW MANY JOBS HAS PETER OBI CREATED FOR THE YOUTHS INSTEAD ALL WE HEAR ARE WHITE COLLAR OPPORTUNITIES THATS WILL NEVA COME TO PASS OR OPPOTUNITY FOR THUGGERY MY DEAR WE ARE TIRED OF INCONSISTENCY AND INSECURITY IN OUR DEAR ANAMBRA STATE. LETS COME OUT IN MASS TO SUPPORT THE FRESH AIR THAT HAS COME TO ANAMBRA STATE.VOTE DR PATRICK IFEANYI UBAH

OKIJA NA SO NAA YOU KNW SAY WE GET MOUTH IFEANYI UBAH DON COME MAKE HIM MAKE A SECURE HOME FOR US ALL

THE FIRST IN THE HISTORY OF NIGERIA,A MAN SINGLE HANDEDLY BUILT THE BIGGEST CHURCH CATHEDRAL FOR THE CHRISTIAN COMMUNITY IN NNEWI.
THE SAME MAN SINGLE HANDEDLY RELEASED AND AIR LIFTED OVER 400 NIGERIAN CITIZENS HELD AND ABANDONED IN CHINESE JAILS BACK TO NIGERIA
HE ALSO MADE SURE THAT GREAT NUMBER OF CORPERS INCLUDING IGBOS IN THE NORTH WERE FLOWN BACK TO THEIR VARIOUS EASTHERN LOCATIONS FOR SAFETY
EVEN WHEN LADIPO MARKET WAS CLOSED DUE TO OVER DIRTINESS HE ALSO MADE SURE THAT HE PAID ALL THE NECESSARY FINES TO ENSURE THAT PEOPLE OF THAT MARKET CONTINUES THEIR DAILY BUSINESS PEACEFULLY AND IN OBIDIENT TO THE RULES GUIDING THE MARKET
INFACT THIS MAN HAS DONE ALOT FOR NIGERIA NOT JUST ANAMBRA STATE ALONE TO MENTION BUT A FEW. AND HIS NAME IS DR PATRICK IFEANYI UBAH
PLEASE LETS COME OUT IN MASS AND VOTE FOR THE FREEDOM THAT HAS COME TO ANAMBRA STATE LETS VOTE DR PATRICK IFEANYI UBAH FOR GOVERNOR ANAMBRA STATE CUM 2014


MR MICHEAL ONYEMA 1.C.T MEMBER