₦airaland Forum

God forbid!!!

APC shouldn't try it oo!!


These "ereporters" and their stories sef.

The day before yesterday, it wasn't his jet!

Yesterday, it was his jet but it was hired by someone else!!

Today, he was set up!!!

And CAN keeps sinking deeper and deeper into the abyss of sleaze!!

Rikidony:
OP UR FOOLISHNESS IS WORRYSOME, THE LAST TIME I CHEK THE MONEY IS A LOAN THAT WILL BE PAID IN YEARS, HOW CAN JONATHAN EMBEZLE MONEY HE HAD NOT YET SEEN, AND TO UR QUESTION THE U.S HAVE REFUSED SELLING WEAPONS TO NIGERIA SO LETS JUST HOPE OTHER COUNTRIES WILL STEP IN AND HELP.

I usually prefer to ignore all your post but I think this one comes with a new brand of foolishness.

Where was it said the loan will be released over years?? I bet you misunderstood it being "serviced" over years to being "secured" over years.

#GetAnEducation.

They should keep blaming while the terrorists keep making gains!! Useless government.

The message here is that Fashola isn't a power monger!!

PriceOfGarri:
Because he couldn't just imagine an "infidel" whose race should have been exterminated between 1967-70 being the VP.

As VP, did Dr Alex take any decision?

If there were cases of corruption, shouldn't the President be help responsible? Why lock the vice?

The truth is that, that gaped-teeth "Animal in human skin" never this day coming. A day when he would need to beg the same civilians he turned to "diplomatic crates" for democratic votes.

Another GREAT response!! #claps.

Op you seeing this??

JudismphD:
Buhari jailed him because he is Buhari. A bigot, blood sucker and saddist. No amount of image laundering will safe him from the defeat that await him. By thenm his APC monkeys in South and baboon in the North will all be soak in their own blood.

What about this Op. Is this satisfactory enough??

PDPblogger:
VERY SIMPLE ANSWER: Ekuweme was an Igbo Christian while Shagari (like Buhari) was a Hausa/Fulani Muslim.

General Buhari was (and still is) an ethnic/religious bigot. End of story.

Op here is your answer. Satisfied

Very wise decision by Ohanaeze. The more they dabble into partisan politics, the more respect the stand to lose. I endorse this.

I'd rather believe the Elvis guy than any news coming from the DHQ. They lie too damn much!

wazoboy:
Wetin concern SW in all this shiiit again?

Jonathanian politics, simple. Even Mrs Oritsejafor has cought the flu as well.

What a shame.

rawpadgin:
now i can forgive them for not knowing where Nigeria is on the world map

No, you should forgive the op and the yeye reporters for claiming CNN said "Barack Obama" when what they wrote was "Obama". Where is the "Barack" coming from?? Is the US president the only one in the world who bears the name Obama Could there not be some "Gideon Obama", "Samson Obama", etc out there?? This is just a poor attempt by ereporters, or whatever they call themselves, to sensationalise a simple gaffe.

Very irritating piece of crap.

iv4fb:
Sorry bro, no offense intended. That Datolee guy is light years ahead of you in intellect. If you'll without bias read through this thread afresh, you'll notice that. Not even barcanista can wriggle of, barcanista had to resort to insult and cyber bullying to get out of arguments with him

seen

APContherun:
Well you will need to ask your state governor how much of that money he collected in 12 months. When we have known how much the states and LGs collected then we ask the FG why it had to borrow as you want us to.

The reason why I don't subscribe to this line of argument is because the FG keep receiving a bigger chunk of our earnings. That is why they always receive a greater share of attention and criticism as regards financial prudence. If more powers are devolved to the respective states and we imbibe the principles of true federalism, everyone will look to their respective states to vent their frustrations as regards the lingering negative trends in the country.

Will be back tomorrow to finish this.

#eyes burn.

See the way this dude just ended up embarrassing himself. Is Tinubu a signatory to anything under CBN/AMCON?? You tried to rope him into this but just ended up exposing how hollow your mind is.

Perhaps if you created another thread, with some luck, the mud might stick.

Goodluck.

datolee:
No I didn't miss that... However it wasn't relevant to the issue, otherwise, can you tell us the relationship between AMCON and subsidy fraud.

Your question was why did AMCON return Capital oil to Ifeanyi Uba. He has not been cleared of subsidy fraud

Who are you to chose what is and isn't important in one's thread If it wasn't important, why did I put it up in the opening post?? You simply can't wriggle your way out of that one that was why you chose to pretend not to have seen it. The post clearly shows the connection between the company and Subsidygate.

And in my query, I DIDN'T MENTION AMCON either in the topic or the body of the opening post. Don't put words in my "mouth".

blkmum700:
Because we Allow him to Pardon his Friends

Diepreye Alamieyeseig
James Ibori
Al-Mustapha
Stella Oduah
Alhaji Abdulrasheed Maina
Faruk Lawal
Femi Otedola and all the subsidy cabals he keep mentioning without prosecution of any.

These are research topics for another day.

atlwireles:
The aim of your thread has been completely defeated. No amount of dry raking will change it. Next time do some due diligence before opening your mouth.

Are you sure you are okay?? How exactly has any of my questions been answered What are you even saying?? If you want to leave, leave. Don't pretend like you've fixed things here and there's nothing left to do.

datolee:
The current state of the country is that AMCON, an arm of the government, honored its agreement with Capital oil and gas. Or is there other thing I'm missing here?

This is what you are missing, and deliberately so:

The Nigeria Police has arrested the Managing Director
of Capital Oil & Gas Industries Ltd , Mr Ifeanyi Uba ,
over the alleged involvement of his companies in the
fuel subsidy scam. The oil magnate who arrived the
Unit in the company of his team of lawyers was
interrogated today by the Special Fraud Unit , Milverton Ikoyi.

His company was indicted by Mr Aigboje Aig-
Imoukhuede’s led 15-man Presidential Panel
constituted by President Goodluck Jonathan to re-
investigate the findings of the report of an earlier
investigation panel set up by the Ministry of Finance
on Fuel Subsidy payments valued at over N2trillion.


elombah.com/index.php/201-news/latest-news/12863-
capital-oil-boss-ifeanyi-uba-arrested-over-fuel-subsidy-
fraud

Chew on that while I start up another research.

atlwireles:
The truth is now slapping you.

"Truth slapping" me? How??. What exactly have you succeeded in explaining Honestly I'm confused here.

atlwireles:
http://www.thenigerianvoice.com/news/127019/1/why-we-took-over-capital-oil-8211-amcon.html


IN what seems like an effort to clear the air on the controversies generated by the recent takeover of Capital Oil and Gas Industry,

The Assets Management Corporation of Nigeria (AMCON) has offered explanation on why it took over the operations of Capital Oil and Gas Industry.

oil firm for the next two years. Based on the takeover, owner of the company, Dr. Ifeanyi Ubah, who is the governorship candidate of the Labour Party candidate in the November 16, 2013 election in Anambra State, has been greatly criticized in a section of the media for his 'inability to manage his establishment.'

Head of Corporate Communications of AMCON Kayode Lambo, explained that the corporation did not seize Capital Oil, but is managing it for a two year period to enable it recover the debt the company owes and, thereafter hand back the company to Ubah.

The take over came at inauspicious time for the owner of the company, Dr. Ifeanyi Ubah, who is the governorship candidate of the Labour Party candidate in the November 16, 2013 election in Anambra State.

His opponents in the election have latched on this development to portray as an ineffective leader who could not manage even his own company.

Lambo explained that Capital Oil is not the only company where AMCON is involved in a rescue operation.

'AMCON is involved in the operations of most of the banks, manufacturing companies and airlines operating in Nigeria,' he claimed.

Giving an overview of AMCON's interventions, the Managing Director and Chief Executive Officer of AMCON Mustapha Chike-Obi, said that AMCON have had to think about the consequences of its interventions, not just on one group of people, but on the economy as a whole.

'AMCON considered unemployment of young people in its activities; the corporation is conscious of anything that will create employment opportunities for young people, as well as promote business that has chances of survival.

He said that AMCON's style of intervention ensured that security is provided for performing loans of companies.'

According to Chile-Obi, Arik Air, for instance, owes AMCON N70 billion but because it has aircrafts worth N75 billion, AMCON decided to come in and assist in its operations.

'If AMCON had refused to come into the picture, which would not have made any good business sense, the airline which does 65 percent of the country's domestic air travels, may not have been in operation today. AMCON is aware that Arik Air has a credit from NEXIM Bank, and any attempt to handle her case without care would be disastrous to the country's image, and the situation could lead to a job loss of between 10,000 and 20,000 directly and indirectly.'

He also said that in the manufacturing sector, for instance, out of the 15 biggest companies, AMCON is involved in 10 of them, and in the downstream oil sector, out of the 10 biggest depots, AMCON is involved in eight.

And atlwireless resorts to spamming. Smh.

datolee:
Believe what you want to believe, call Uba whatever you want to call him.. But capital oil was of very strategic importance to the economy of this country and it will be foolhardy to let it go burst because it will not only affect the oil industry but also the banks. AMCON has hand in 10 of the country's 15 biggest manufacturers.

I can't believe you just typed this!! Can you see how you think?? Criminals should be rewarded because the government can't afford to have their companies go burst!! Does that explain why Jonathan hasn't been able to throw anyone behind bars over the subsidy fraud One of the reason AMCON descended on his asset was because of the money he owed banks, and by your logic, the depositors whose monies he borrowed can go to blazes, they don't have companies of "strategic importance"!! Is this the way to run an economy?? Is this the way to run a country??


This is shameful.

datolee:
Because he has met conditions set out in the judgment of the Federal High Court

smh. All along you have shown links to your arguments, why is it difficult to show us links as to where that was said

atlwireles:
AMCON said its takeover of the executive management of the COG within the two-year timeframe would stabilise the company, adding that it planned to ensure seamless operations at the company.

The agency added that it would, within the two years, “drive the turnaround of the company’s operations in order to meet various timelines and goals set by COG’s board of directors and AMCON.”



What is the meaning of within two years?


http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

Now it is coming down to semantics!

One sticking question remains: Where did AMCON say the company would be returned to IFEANYI UBA after two years??

Come on guys, you gotta do better than this.

Mortiano:
thats one thing i hate most, u r not igbo n yet u used igbo name to confuse people. silly people, that obiagelli inclusive, silly people.
N.b, i'm not against u as opposition, but disguising in the name of igbo name is quite appalling and disgusting, u guys can do more than that. peace

K

datolee:
Why must you keep doing this? At first you said it was taken over because of subsidy fraud... We must let Nigerian's know that it wasn't taken over because of subsidy fraud but because of debt (remember AIG and Cosmas Maduka case?)

From you link, this is what AMCON said



AMCON taken over was just to stabilize the company and hand it over to Uba!! If they have reached an agreement before this time frame, who are you to question it? Are you privy to the agreement?

Where in the links you provided earlier was it stated that they were to hand the company back to Uba after the two year period Who is distorting facts here You try to pass yourself up as someone who's smart, but frankly, only kiddos fall for that.

Besides, they said "2 years", so by my estimation, it's been 17months since AMCON took over. What's the rush in handing over?? Is it out of fear what might transpire in the forthcoming elections?? Why not at least 22 months??

Someone is definitely using back channels here.

datolee:
Your question has no bases, Capital oil wasn't taken over by AMCON because of subsidy fraud, AMCON does not investigate subsidy fraud, It was taken over like other banks because of debt!

In fact, the earlier arrangement was for AMCON to manage the company for two years (from 2013 to 2015), stablize the company ad hand it back over to Ifeanyi Uba, he never stopped being the owner, just that he was ousted as the CEO and cannot sign cheque. As matter of fact, AMCON gave him two options, either to continue working as CEO and forfeit his governorship aspiration or go for governorship and forfeit being CEO.

What is the relationship between AMCON and subsidy? He has reached agreement with AMCON just like the other banks and business taken over by AMCON and he is reinstated as the CEO. all these while, he never cease to be the owner.

We shout corruption every time. Don't mislead people

http://www.punchng.com/business/business-economy/amcon-takes-over-ifeanyi-ubahs-capital-oil/

http://www.vanguardngr.com/2013/10/seize-capital-oil-amcon/

Here you go again with your selective blindness. Did you read the opening post or you just popped out shooting indiscriminately

The Nigeria Police has arrested the Managing Director
of Capital Oil & Gas Industries Ltd , Mr Ifeanyi Uba ,
over the alleged involvement of his companies in the
fuel subsidy scam. The oil magnate who arrived the
Unit in the company of his team of lawyers was
interrogated today by the Special Fraud Unit ,
Milverton Ikoyi.

His company was indicted by Mr Aigboje Aig-
Imoukhuede’s led 15-man Presidential Panel
constituted by President Goodluck Jonathan to re-
investigate the findings of the report of an earlier
investigation panel set up by the Ministry of Finance on
Fuel Subsidy payments valued at over N2 trillion.

How dare you try to dissociate what happened to the company from the subsidy ponzi scheme?? How dare you.

atlwireles:
Ask a lawyer to explain what "amicable settlement" means in Nigeria's legal jurisprudence.

We should ask a lawyer in this case, but you never asked anyone to ask a lawyer when the question about Fela's sentencing came up. What wonderful logic!

Good! FP!

It is research season! Expect more of this.

atlwireles:
Don't be silly boy.

An earlier statement by Lambo announcing the return of Capital Oil Group to Ubah, linked the development was sequel to “amicable settlement of all pending legal disputes between the parties.

Oga, your kite isn't flying, too many holes on it. My question remains unanswered.

It is a damn shame Seun has yet to take this to the fp. Damn shame.