Oil Mogul, Ifeanyi Ubah Spotted With His Rolls Royce at a Wedding Event (Photos)

South-eastern billionaire, Ifeanyi Ubah reeked of class and opulence as he attended a social gathering recently with other powerful figures.

 

Ifeanyi Ubah (on white) on arrival

 

The Chairman of Capital Oil, Ifeanyi Ubah,who recently returned to the country - was today spotted with his enviable Rolls Royce at an event in Oraukwu area of Anambra state where he attended a marriage ceremony.

 

The business mogul was in attendance with the Minister of Labour and Employment; Dr. Chris Ngige, Senator Andy Ubah and other high profile dignitaries as Chief Odunukwe Charles; Okemmili Oraukwu gave out his daughter in marriage.

 

Ifeanyi Ubah has endured turbulent times with the Department of State Security in recent times after the state owned oil company - NNPC accused him of diverting litres of fuel amounting to N11 billion.

 

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DSS Arrests Ifeanyi Ubah

The Department of State Services has arrested and detained Nigerian business mogul and politician, Ifeanyi Ubah.

According to Sahara Reporters, the reason for his arrest is unknown. But Ubah, who owns Capital Oil, had previously been linked to a fraud probe involving the Nigerian National Petroleum Corporation.

Sources close Ubah,  said the businessman was not arrested, neither was he detained by the DSS. He was only in invited for a chat and was allowed to go home, one of the sources said.

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Brazilian Rafael Everton Lira Returns To Nigerian Club FC Ifeanyiubah

Brazilian Rafael Everton Lira has returned to FC IfeanyiUbah as manager of the Nigerian Premier League club.

The 27-year-old left the club - who are also known as Anambra Warriors - in November, having rejected a lesser role after he had led them to the 2016 Nigerian FA Cup.

He has made a dramatic return following the exit of his successor, former Accra Hearts of Oak manager Kenichi Yatsuhashi, who left the club last month with the board citing "unprofessional conduct".


Former Ghana international forward Yaw Preko has been in temporary charge of the side following the exit of Yatsuhashi.

Everton, the youngest manager to win the Nigerian FA Cup at 27, returns with Brazilian player Alberico Barbosa da Silva who also helped the team to fourth place in the Premier League last season.

FC IfeanyiUbah, who have a partnership deal with English side West Ham and play in the same colours as the Premier League club, will face Egyptian club Al Masry in the Caf Confederation Cup first round next month.

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Ifeanyi Ubah Hits Big as Abuja High Court Orders AMCON to Pay N26.5billion to Capital Oil & Gas

Justice Abdul Kafarati of the Federal High Court sitting in Abuja on Thursday, in a judgment, ordered the Asset Management Corporation of Nigeria to pay Capital Oil and Gas Industries Limited N26.5 billion

Billionare mogul, Ifeanyi Ubah

 

The Federal High Court, Abuja, on Thursday ordered the Asset Management Corporation of Nigeria to pay Capital Oil and Gas Industry Limited N26.5 billion as contained in a consent judgement delivered in 2013.

 

Justice Abdul Kafarati, in his judgment, held that the court had powers to enforce its judgment or that of any lower courts in the country.

 

He said, “An order is granted for AMCON to provide Trade Finance Facility in the sum of N16 billion for revamping of the plaintiff’s business and to pay the plaintiff’s trade creditors.

“I also grant an order compelling the defendant to comply with the consent judgement and to make the additional sum of N10.5 billion available to the plaintiff.

“This money is the payment of sundry creditors who continue to threaten the plaintiff’s business.”

 

Kafarati also restrained AMCON from exercising any powers over Capital Oil and Gas Limited and its assets. These include attempts at processing any assignment or transferring same on behalf of the company.

 

A Federal High Court in Lagos on May 6 struck out the suit brought by AMCON against Capital Oil and Gas Industries Limited on these issues.

 

The court held that the suit was premature and could circumvent pending suits relating to the alleged indebtedness of Capital Oil and Gas Limited.

 

The plaintiff (Capital Oil and Gas Industry Limited) had approached the court to decide whether having regards to the consent judgement, AMCON was not under obligation to restructure its debt.

 

The plaintiff also asked the court to decide whether the actions of the defendant and agreements reached by parties since the consent judgement did not constitute a waiver of the requirement for compliance.

 

The court was also asked to decide whether the defendant was not wrong to have failed to restructure the plaintiff’s debt.

 

The plaintiff further sought the determination of the court whether if the defendant did not by its action fail to avail it trade facility in the sum of N16 billion to pay its trade creditor.

 

Reacting to the judgement, Mr Ajibola Oluyede, counsel to the plaintiff, described it as a landmark decision.

 

He, therefore, urged the defendant to accept the judgement, adding that such step would encourage growth of private businesses in the country.

 

Source: NAN

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Why I Aspired To Be Governor In 2013-Ubah

Mr Ifeanyi Ubah, the Chairman of Capital Oil and Gas, has explained why he aspired to be Governor in 2013 stating categorically that, he wasn’t contesting then to be Governor because of money because he was richer than some Governors, but for the comfort of the people of Anambra. Ubah stated this to journalists in an interactive session to mark his 45th birthday at his Nnewi home. He said;

“I am blessed in every ramification. If not for the love I have for Anambra, I should not have any reason to aspire to be governor, because there is nothing a governor enjoys that I do not enjoy.

“I had the best manifesto to change the fortunes of Anambra people when I aspired in 2013 to be a governor, but I had to let go because it must not be me.”

He however said the present administration in the state is doing well, and gave conditions of supporting his administration saying; “So far, the governor is doing well, and I will support him, but we must think beyond our selfish interests. We must reject a situation where one man finishes his tenure and takes his stooge and puts him as governor,” the billionaire concluded.

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