{"id":96,"date":"2013-01-19T19:27:25","date_gmt":"2013-01-19T19:27:25","guid":{"rendered":"http:\/\/nigeriastandardnewspaper.com\/ng\/?p=96"},"modified":"2013-01-19T19:27:25","modified_gmt":"2013-01-19T19:27:25","slug":"fuel-subsidy-brouhaha-latest-true-story-on-capital-oils-boss-trial","status":"publish","type":"post","link":"https:\/\/nigeriastandardnewspaper.com\/a\/fuel-subsidy-brouhaha-latest-true-story-on-capital-oils-boss-trial\/","title":{"rendered":"FUEL SUBSIDY BROUHAHA LATEST: True Story on Capital Oil’s Boss Trial"},"content":{"rendered":"

\"157_Ifeanyi-Uba_2\"<\/a>FUEL SUBSIDY BROUHAHA LATEST: True Story on Capital Oil’s Boss Trial…Cosmos Maduka, Cosharis MD behind it IN saner republics, politics ought to be played without a single bitterness. Contrary is this assertion in Nigeria as politics is being played daily with ‘venom’
\nagainst whoever has a score to settle with the other person, mostly among high-profile Nigerians
\n(elites) albeit ‘behind-the-door’ by ensuring that person suffers, get humliated, frustrated, imprisoned and if possible jailed, so that his assets are forfeited to the government.<\/p>\n

True Story of Capital Oil’s Boss Trial & Coscharis MD Manipulation<\/p>\n

Investigation by Naija Standard in Lagos and Abuja confirmed that Cosmos Maduka,
\nManaging Director\/Chief Executive Officer of Coscharis is allegedly behind the
\non-going ‘political trial’ of Patrick Ifeanyi Ubah, boss of Capital Oil and Gas
\nIndustries Limited. Few months to the fuel subsidy outrage in Nigeria, Maduka
\nhad allegedly made it known openly to Ubah on few occassions that the success rate
\nof Capital Oil by way of acceptability in the country and enviable height in the downstream
\nsector is becoming alarming. This, Ubah shrugged aside and told him it was God’s hand
\nthat was at the helm of affairs in his company.<\/p>\n

For a while Maduka avoided Ubah, but later got back to him and picked a quarrel
\nfor no just reason; even though the embattled owner of Capital Oil had repeatedly
\nasked Coscharis boss what the problem was, the latter was not willing to talk.<\/p>\n

It was learnt that even before Ubah was detained at the Special Fraud Unit,
\nThe Nigeria Police, Milverton Road, Ikoyi, Lagos, upon his visit with his
\nlawyers and five of his top staffers (on Tuesday, October 9, 2012), Maduka
\nhad allegedly boasted that he must keep him in detention for 14 days! Which
\nof course has now come to pass and shows that this whole thing was
\npre-planned.<\/p>\n

The Aigboje Aig-Imoukhuede Connection<\/p>\n

Unknown to Ubah, Maduka, a childhood friend of Aigboje Aig-Imoukhuede, the
\nGroup Managing Director (GMD) of Access Bank Plc and also the chairman
\nof the Presidential Committee on Verification and Reconciliation of Fuel
\nSubsidy Payments was constantly being told to do all he could to allegedly
\nnail Ubah at all cost and bring both his name and firm to opporibrium.
\nAfter so much pressure, the bespectacled GMD capitulated and drew up
\na well laid-out plans to trap Ubah. This was how Ubah’s name immediately
\ncame up on those to be investigated for ‘fuel subsidy scandal,’ with
\na hurried, fictitious file put in place.<\/p>\n

Final Plans to Strip him of his Assets<\/p>\n

Further investigation by Naija Standard showed that their next line of action
\nis to strip him of his assets. As a matter of fact, we were told that the fate
\nof Dr. Erastus Akingbola, the former MD of the defunct Intercontinental Bank
\nawaits him. Sources told our reporters that \u201cThey have their eyes on Ubah\u2019s vast
\nassets, especially his massive depot, which is the third largest in the country
\nand will stop at nothing to have it.”<\/p>\n

Why Ubah alone was arrested<\/p>\n

One of our source said: “Let\u2019s face facts, why is it only Ubah that
\nwas arrested? Where are the other top players in the industry also mentioned in
\nthe matter? The story flying up and down now is that former Lagos governor,
\nAsiwaju Bola Ahmed Tinubu is silently fighting for Mr. Wale Tinubu of Oando,
\nwhile billionaire businessman, Alhaji Aliko Dangote has thrown his weight behind
\nAlhaji Sayyu Dantata. Ubah was detained and humiliated because he
\nhas no one to fight for him \u2013 and that is not fair\u201d.<\/p>\n

Summing it all up as intimidation, another source added that the gang up is
\nto intimidate Ubah and strip him of all his assets and nothing more. His words:
\n\u201cThe people after him should not forget that even if nobody fights
\nfor him now, God will surely fight for him. All they have been doing to
\nthat young man is to heap lies upon lies on him. The Federal Government of
\nNigeria contracted Ernst & Young, an international agency to conduct the
\nverification exercise. They should allow the agency publish their findings
\ninstead of coming up with cooked up stories. Nigerians are not fooled. They
\nknow the truth and will continue to pray for Ubah. In spite of being only
\n41, he has touched a lot of lives. And all those whose lives he has touched
\nwith his generosity will continue to pray for him \u2013 whether the enemies
\nlike it or not\u201d. Ubah, meanwhile, was released on Friday, October 19, 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"

FUEL SUBSIDY BROUHAHA LATEST: True Story on Capital Oil’s Boss Trial…Cosmos Maduka, Cosharis MD behind it IN saner republics, politics ought to be played without a single bitterness. Contrary is this assertion in Nigeria as politics is being played daily with ‘venom’ against whoever has a score to settle with the other person, mostly among […]<\/p>\n","protected":false},"author":2,"featured_media":97,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-96","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts\/96","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/comments?post=96"}],"version-history":[{"count":0,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/posts\/96\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/media\/97"}],"wp:attachment":[{"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/media?parent=96"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/categories?post=96"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigeriastandardnewspaper.com\/a\/wp-json\/wp\/v2\/tags?post=96"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}