₦airaland Forum

This is a welcome development. Dr Ifeanyi Ubah has doe well by supporting Willie Obuano for his second term bid. Since PDP torn the umbrella due to Peter Obi's selfish interest. Let Obiano continue his good works. God fatherism must stop in Anambra State.

How is bridge of contract punishable by death? Ifeanyi Ubah has saved this Nation several time from economic collapse even going against the will of the union of petroleum marketers, this same person the DSS is accusing of trying to cause scarcity. The product in question did he drinkit or did he use it to fuel his car? He sold it to same Nigerian public. How the is Ifeanyi Ubah Capital oil trying to cause scarcity when the puduct was available to the public?
DSS please refrain from this baseless propaganda. Ifeanyi Ubah is saving Nigerian Government from petroleum cabals who want to strangulate this Nation for their personal gains. Ifeanyi Ubah derives joy in helping and saving Nigeria at all time.
They tried to rope Dr. Ifeanyi Ubah into Dasukigate, they found nothing. They searched for TAN's involvement, they found nothing. They now want to give his transaction a bad, a sort of payback for the waves TAN made. If this commercial dispute is punishable by death, what becomes of those that were involved in crude swap without delivering petroleum product or remitting the money for over 3 years
#justice4ifeanyiubah

Bravo123:
The Department of State Security, DSS on Tuesday said that the decision of Mr. Ifeany Uba, the Managing Director of Capital Oil Ltd to divert eleven million liters of premium motor spirit left in the tank farm of capital oil by Nigeria National Petroleum Corporation, NNPC, worth about N11bn was capable of plunging the country into economic crisis.

This the agency said the action amounts to economic sabotage and is, therefore, punishable by death.

The DSS position was contained in a counter-affidavit and written submissions filed by the DSS in opposition to an application by Ubah, asking a High Court of the Federal Capital Territory in Jabi, Abuja to set aside an order for his detention for 14 days...

Read more http://alabingo.com/2017/05/ifeanyi-ubas-div…shable-death-dss/

Nigerians can now see the truth the NNPC and government through the DSS are hiding from us.

What a Nation...

callydon:
Capital Oil and Gas Limited, owned by businessman, Ifeanyi Ubah has alleged that the Nigeria National Petroleum Corporation (NNPC) owes it N16 billion.

The company stated this in reaction to the arrest and detention of its chairman, Ubah by the Department of State Security (DSS) for what the agency said was based on his involvement in alleged stealing, diversion and illegal sale of petroleum products stored in his tank farm.

But in a statement released on Monday, the management of the company denied the accusation,
adding, that it is an attempt to criminalise a commercial dispute between the company and the NNPC.

While it was widely reported that Capital Oil and Gas was unable to return 82 million litres of petrol, valued at N11 billion, out of over 100 million litres which the NNPC kept with it, the company said rather, it was the NNPC that owes it N16 billion.

According to the company, it is owed “$5,540,000 (N2.2billion) – unpaid berthing fees for NNPC vessels that called at our Jetty, $2,952,555 (N1billion) – invoice for chartered vessels to carryout STS operations Lagos offshore to ferry product (PMS) to storage at the request of NNPC since 2015, N1.170billion – amount owed to Capital Oil & Gas Industries Limited for throughput services from March to October 2016, N3.146billion – payment made to NNPC for 26,820million litres of PMS vide Pro-forma Invoice No. 53598 which is yet to be delivered to us”.

It listed other debts to include, N2.0billion – Payment to NNPC in April to facilitate the release of the Managing Director and engender reconciliation which NNPC reneged on. N6.266billion – N0.80k and N0.40 Jetty Throughput charge on over 7 billion liters dispensed for NNPC by us”.

In the statement, the company also narrated the events that led to the arrest of Ubah, a one-time governorship candidate in Anambra state. “The incarceration of our Chairman by DSS is unlawful, a disregard for the rule of law and a breach of Dr. Ubah’s fundamental right to liberty, freedom of movement and association.

“A similar invitation was extended to Dr. Ubah on the 24th of March 2017, which he honoured as a law-abiding citizen only to be detained in DSS offices in Abuja for almost a month.

“During that period a Fundamental Rights Enforcement Application was brought on behalf of Dr. Ubah at the Federal High Court Lagos as Suit No. FHC/L/C/487/2017.
“Although an order was made for his production in court in that action, rather than obey the order, officers DSS, using a combination of coercion and cajoling, constrained him to discontinue that action upon an understanding that he would be immediately released. He was not released until over two weeks after he had complied and completely discontinued that action.

“Upon his release on the 13th of April 2017, it was now discovered that during his incarceration he had been coerced into executing various documents committing the company to make certain payments and pledge some assets to NNPC Retail Limited. He was also made to execute a document in favour of the Asset Management Corporation of Nigeria (AMCON).

“As soon as his doctors permitted access to him an action was brought at the Lagos Division of the Federal High Court seeking, inter alia, an order to restrain DSS and others from further inviting, arresting or threatening to arrest or detain him in regard to the NNPC/NNPC Retail Ltd matters.

“The processes originating the new action filed as Suit No. FHC/L/CS/644/2017, were served on the DSS on the 28th of April 2017.

“Dr. Ubah’s lawyers wrote to the DSS pointing out that any preemption of the judicial intervention during the pendency of the new action is totally irregular, a disregard of the rule of law, the constitutional guarantees of separation of powers and breach of the doctrine of Lis Pendens.

“Rather than respect its constitutional and statutory limits the DSS has brazenly abducted Dr. Ubah and commenced a media blitz to justify their illegality”, the company stated.

Meanwhile, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has advised on dialogue to settle the lingering crisis brewing between the government, the DSS and the Management of Capital Oil over the alleged illegal sale of petroleum products stored in their tank farm by the NNPC.

The union stressed its displeasure over the illegal diversion and sale of the petroleum products by Capital Oil, but that it was of the opinion that the Federal Government cannot sit down and watch workers lose their jobs, as in the case of Capital Oil, where over 2,000 workers are presently idle.

It added that the global practice is for government to secure and create jobs.

NUPENG made this known in a statement signed by the President, Comrade Igwe Achese. The Union also stated that workers have the right to protest the non-payment of their salaries and allowances and that the Federal Government should secure the jobs of those working in the sector.

NUPENG also mentioned the case of Seawolf Oil Services that was taken over by the Assets Management Corporation of Nigeria (AMCON) where the workers have still not been paid their backlog of salaries and entitlements for over five years now.

NUPENG believed that the job creation mantra of the government should be allowed to play, rather than paving way for job losses as it is the case of Capital Oil closure now.

It called on the government to allow the workers to resume work at the depot and load products so that their salaries can be paid instead of throwing them into unemployment market for no fault of theirs.

Source:
http://www.fullgist.com.ng/2017/05/ifeanyi-ubahs-arrest-nnpc-owes-us-n16bn.html

Why are you writing as if you are not literate?
Who is NNPC, is it not the government?
Who pays for NNPC transactions, is it not the government, through the CBN?
Please brother, make your research.
Thank you

bkool7:
lets get something straight .

NNPC is a conglomerate of many organizations

Did NNPC tell him to use the fuel as a refund of the money they owe him? ...if they truly owe him. Because NNPC has not confirmed that .
Another thing you've missed , its not NNPC that arrested Ifeanyi Ubah , its the dss .And they did so because his action is equal to economic sabotage . If you don't know all NNPC staff involved have been dismissed and undergoing Investigation .Did any of you complained when NNPC sacked those people involved and ordered their prosecution ?
If NNPC owed him he should go and collect his money from that department of NNPC that owed him .

I know all of this because I have been following this story online.

ISpiksDaTroof:
And you know all of this, because?

NNPC owe Capital oil more than what NNPC claimed Capital oil is owing them according to Capital oil.

Schematics:
LIES..

Why did UBA not sell the OIL and return the balance to NNPC, or is NNPC owing the exact amount to Uba? I doubt your story ALFRED.

Sue who? Can u sue this present government and win them? A wise businessman will not do that, if he want to remain in business. Even if Capital oil sue NNPC, they will keep adjourning the case till only God knows. Also the government can decide to ruin the company. But I bet you mark my words "this government will try to take over this company using every possible means, but God almighty will not allow them to prevail"

Let me also ask, when the government of Nigerian took over this company through AMCON, did AMCON meet up their own obligation by injecting funds into the company like they did to ARIK Air?

Another question I want to ask is this: Capital oil claim NNPC is owing them over N15 billion. If you were being owed by someone and you have tried every means possible to reconcile with the person, the person has refused to reconcile with you and you have the persons property with you, Nigerians please what will you do?

Please ask yourself this question as an individual and as a true Nigerian.

Even the Government should also ask themselves this question.

Nigerians, please let us ask questions and let's also place ourselves in the situation of Capital Oil.

Please, charcoal should stop calling the kettle black.

I am not a Capital Oil staff. We need to be sincere to ourselves.

Selah

bkool7:
What do you mean , " You mustnt bite the finger that's feeding you"
Is it Ubah that's feeding the govt or the govt is feeding him ?
In case you forgot , Ubah is Apc

if NNPC is truly owing him too then he should sue them not steal from them to get his money back .

The Nigerian government should stop harassing Ifeanyi Ubah Capital oil. They should reconcile with the company rather than intimidate the company with security operatives (DSS). NNPC owe Capital Oil and Gas millions of dollars running over N15 billion naira. If the DSS and the Nigerian government are sincere, they should reconcile accounts with capital oil and from that point they know who is owing who. The senate committee on petroleum should look and investigate this matter deeply without biase. Ifeanyi Ubah and Capital oil has helped this nation greatly at various times of great scarcity and industrial strike action by petroleum marketers.

This is a man who has invested heavily into this business inline with government policy. But this same government change her policy without considering investors.

Please the Nigerian government should reconcile with this company rather than strangulate it. As there is an adage that says "you can not bite the finger that feeds you".
Selah...

Why do u say or write what u don't know.? NNPC owe Capital oil and Gas millions of dollar running over N15 billion. Then let me ask u now who is the thief here and who is oweing who?

AbakalikiPress:
I have a feeling all my Igbo brothers on this thread will blame Yorubas for the arrest of this man- even though na proper Thief him be- And Yoruba have nothing to do with his arrest.

That typical "We must protect our own criminal" attitude that most Nigerians have.

Ehen... one below me has started.

Ifeanyi Ubah is a good man. He always put the nations interest first. He is business oriented. He has no social life because he always think on how to move the nation forward. Long live Ifeanyi Ubah, long live Capital oil and gas industries ltd.