Ifeanyi Ubah Goes Calm

Since his disastrous outing at the Anambra governorship poll last year as candidate of the Labour Party, the controversial boss of Capital Oil and Gas has recoiled into a humbling cocoon. No longer does he ramble on the pages of newspapers, vaunting about himself and his conglomerate and how Anambra would be the best for it if he were elected its governor. The controversy-prone businessman suffered a devastating defeat at the November 16 governorship polls in Anambra State.

Sadly, he was not even in the top three. Whilst he has gone to court in a face-saving measure to challenge the outcome of the election, which underscored his political naivety and unpopularity at home, his roof is on fire. The bulky, Nnewi-born businessman is still battling the accusation of duping a fellow successful Igbo businessman, Cosmas Maduka of Coscharis in a business transaction. Meanwhile, his Capital Oil and Gas is now being managed by the Asset Management Corporation of Nigeria, AMCON because of a multi billion-naira loan with an accruing interest rate of N800m to N900m monthly. Uba has relinquished his position as MD/CEO while AMCON has appointed another person to see to the day-to-day operations of the company. If this concatenation of woes is not enough to make an otherwise boisterous person calm and humble; what will?


- Thisday
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