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Capital Oil
July 14, 2017
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NNPC has owed Capital Oil N16bn for two years – Ifeanyi Ubah

The Chairman of Capital Oil, Ifeanyi Ubah, on Thursday said claims that he was owing Nigerian National Petroleum Corporation N11 billion was false. Ubah made the disclosure at the on-going public hearing organised by the House of Representatives Committee on Petroleum Downstream. The committee is investigating how 82 million metric litres of petrol belonging to... Read More
The News Blog
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March 18, 2017
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NNPC set to recover missing 130m litres of fuel from Capital Oil

The Nigerian National Petroleum Corporation (NNPC) on Friday said it would recover over 130 million litres of premium motor spirit (PMS) worth N11 billion from Capital Oil & Gas Limited. NNPC chief operating officer, Henry Ikem-Obih disclosed this while speaking with journalists in Abuja. He said the infraction was discovered earlier in the year when... Read More
The News Blog
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September 12, 2016
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How NNPC, Tinubu, Adenuga, Otedola, Ubah, others owe Nigerian govt N86bn

The federal government is being owed at least N86.4 billion as at July 21, 2016 by marketers of petroleum products, according to Premium Times. The major culprits are members of the Major Oil Marketers Association of Nigeria (MOMAN) and the NNPC Retail (mega filling stations). The debts owed by the marketers are for products allocated to the... Read More
The News Blog
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May 24, 2015
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Ifeanyi Ubah to the rescue, promises to release 70 million litres of fuel

by Azubuike Azikiwe There may finally be some temporary succour for Nigerians in the face of the severe fuel scarcity prevalent in the country. While other depot operators and oil marketers have refused to sell petroleum products until their outstanding subsidy claims of over N200billion is paid by the Federal Government, Capital Oil and Gas... Read More
The News Blog
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November 17, 2013
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“INVALID VOTES is scoring more than Ifeanyi Ubah” – See top 10 tweets on the LP candidate’s looming loss

by Chi Ibe The votes have not been counted, but it is clear, Labour Party candidate and business-man Ifeanyi Ubah is clearly not winning this election, save for some miracle. However, even he doesn’t expect that – and he has already demanded his campaign funds back from the Independent National Electoral Commission. Of course, Twitter... Read More
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November 17, 2013
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INEC, refund my money – Anambra candidate, Ifeanyi Ubah is not even playing

by Chi Ibe The Labour Party candidate for governor in Anambra, Capital Oil boss Ifeanyi Ubah, is clearly disappointed in the election’s outcome (though yet unannounced)– and he is putting his mouth where his money is.     Although written off as a tier-2 candidate by pundits, Ubah makes it clear in remarks today that... Read More
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June 24, 2013
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Fuel subsidy scam: Police set to re-arrest Capital Oil boss, Ifeanyi Ubah

by Chi Ibe Director of Capital Oil and Gas Industries Limited, Ifeanyi Ubah might be re-arrested again by the Police Force Headquarters in Abuja and sources claim he would also be re-arraigned thereafter following his indictment in the fuel subsidy scam where he was alleged to have taken N22.4b from the federal government. Nigerian Bulletin reports... Read More
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December 14, 2012
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The Matter of Ifeanyi Ubah: Reps threaten to arrest Okonjo-Iweala, Aig-Imoukhuede

by Hauwa Gambo The House of Representatives Commission on Public Petitions has signalled yesterday that it is ready to order the arrest of the Co-ordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, and the Group  Managing Director of Access Bank Plc, Mr. Aigboje Aig-Imokhuede – whom it has invited twice over the N20bn fuel subsidy... Read More
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November 10, 2012
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Scandal: “Uba duped me of N21 billion” – Cosmas Maduka, “It’s lies designed to take over my company” – Ifeanyi Ubah (DETAILS)

  by Rachel Ogbu Cosmos Maduka, president of Coscharis Group, has taken to the media to demand a supposed N21 billion debt owed him by Ifeanyi Ubah, Capital Oil boss. Maduka who returned to the country at the weekend was ready for showdown with his former business partner and threw more light on the raging loan saga... Read More
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September 11, 2012
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Too little, too late: Capital Oil faults presidential committee report, describes it as ‘indefensible’

by Akan Ido Capital Oil and Gas, one of the companies indicted by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments headed by Aigboje Aig-Imoukhuede, has described the reports of the committee as “very shoddy”. The management of the company in a statement released to newsmen yesterday expressed surprise that the committee... Read More
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August 27, 2012
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Capital Oil, Lenards, six others, to be delisted from Nigerian Stock Exchange

by Stanley Azuakola Now that the Securities and Exchange Commission (SEC) has given the go-ahead, eight firms are set to be delisted this November from the official list in the Nigerian Stock Exchange (NSE). They were found liable of not meeting post listing requirements of the NSE. The eight firms are Aluminium Manufacturing Company of... Read More
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August 23, 2012
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“They tricked the FG and siphoned over N40b” – Okonjo-Iweala lists offences of 25 indicted oil marketers

by Stanley Azuakola It’s confirmed. Nigeria’s minister of Finance, Dr. Ngozi Okonjo-Iweala is now officially on an offensive. Since last week when the minister threatened to release names of the marketers indicted by the presidential committee headed by Aig-Imokhuede which investigated subsidy claims, and she did. And she has not looked back. Last week, Okonjo-Iweala... Read More
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