Uba denies receiving help from Maduka; calls Cosharis group 'pure water' business - Part 1

The Managing Director of Capital Oil and gas, Ifeanyi Uba on Monday denied claims by the Chief Executive Officer of Cosharis group, Cosmos Maduka that he offered him (Mr Uba) a lifeline when his business was in the brink of collapse.
"Is it by his pure water business that he'll be able to come and help me," Mr Uba, who was a guest on Channels Television's breakfast programme, Sunrise Daily, asked.
Mr Uba said he believes politicians were influencing the Cosharis boss, whom he referred to as an uncle, to engage in the media war with him.
Mr Maduka had claimed that since Mr Uba and his company (Capital Oil and Gas) were labelled by most commercial banks in Nigeria as 'unbankable', he helped the oil merchant to obtain a loan of $180 million from Access Bank to finance the importation of Premium Motor Spirit (PMS).
The Cosharis boss also alleged that 10 letters of credit were opened and that of the 10 expected cargoes, only six were delivered.
Disputing Mr Maduka's claims, Mr Ubah said "everything about that story is false."
When asked if it was true that he is indebted to Access Bank to the tune of N21 billion, Mr Uba said 'you can't eat your cake and have it'.
He said the loan he obtained from the bank was what he used to import petrol of which his company is yet to receive subsidy payment. "The money is sitting in Access Bank," he said.
"Access Bank is the consignee of all the vessels imported. Therefore, if they are accusing of fraud, then it is all of us together," he added.

[@thetravelerwonderfulworld9854]

Ok today is Friday April 23rd, 2021. It's been over 11 years since this incident occurred. So let's keep scores . 1. Where is Capital Oil today ? Answer : Capital Oil has been TAKEN OVER by the asset management company of Nigeria (AMCON) because it is owing several banks and businesses in Nigeria and cannot stay solvent anymore . 2. Where is Ifeanyi Uba today ? Answer : Ifeanyi Uba has NO business as at today , making him the ONLY oil "billionaire" in Nigeria to be bankrupt. He quickly rushed into politics where he is now a senator and right now running for Anambra governorship. 3. Where is Cosmas Maduka ? Answer : Cosmas Maduka's business COSCHARIS group is growing from strength to strength, even though he paid N14b to clear that debt Ifeanyi stole. COSCHARIS is also about to go public. So from this , you know who is a crook, and who is a true business man. THIS SHOULD BE A LESSON TO ALL YOUNG BUSINESSMEN & WOMEN IN NIGERIA. ONLY YOUR INTEGRITY WILL SAVE YOU !!! DO NOT STEAL TO GET RICH QUICK. IT DOES NOT PAY !!!

[@AI-dc3zo]

Well analyzed!

[@gombeheritage4673]

Well said, sir

[@Jerry.anthony.c]

Well analyzed

[@alexobor7954]

Thank you for putting this out.

[@ajalahupfront]

We the association to women selling tomatoes in the market are offended. That we don't sell tomatoes worth 21billion does not mean we should be disrespected.

[@nzubeikoroha3793]

Lol

[@eddierocksteady5740]

The Managing Director of Capital Oil and gas, Ifeanyi Uba is a THIEF!!!

[@unstoppableunstoppable8687]

The fact he's laughing and stammering shows guilt. He's all over the place as far as am concerned. Very unfortunate, why do you want to destroy him over his kindness. You better change for your own good!

[@akindeleakano]

You have respect for him and you said he must have lost his memory? What type of respect is that?

[@emmanayoemmanuel1861]

No need to go to National House of Rep ooo. just pay! period!

[@olalereqi545]

In one breadth he calls Dr Cosmos his brother and uncle. In another breadth, he calls him young man. Are you seeing what I am seeing?

[@unstoppableunstoppable8687]

I'm laughing really hard here! You can see he's lying. He's asked a straight forward question, then he deviated to something else. His body language says it all.

[@funmichris8680]

True. You are very observant.

[@funmichris8680]

This guy was purely evasive. He is being asked a question. Rather than answering directly with facts, he chose rather to beat about the bush.

[@chrismaduabuchi6919]

When you listen to both parties, you will know the truth, please pay your debts

[@unstoppableunstoppable8687]

Simple!!

[@hartbrown100]

Interviewer: Do you have facilities with Access Bank Uba: We don't have facilities with Access Bank. Let me go straigth to the point. We don't have facilities with Access Bank Me: What sort of response is that....If the subsidy probe did not fail, Uba should be in prison or self exile

[@yinkoos]

If N21 billion doesn't scare you then pay Maduka his money, thief!

[@finjasper]

Ifeanyi, we all know you conned him of that money. You shouldn’t be playing with people’s money. In other countries you’d be ....

[@Terratiger]

Forget all this business crap. I like this Ifeanyi chap. He is one funny son of a gun! lol!

[@christopheruche5708]

Ole go and pay Dr. Maduka his money

[@michaelakinseye5686]

Never knew he is such a fraudster

[@dorcasbernard8278]

Is all good

[@okeymbanu8848]

dorcas bern

[@afrodemyonline9555]

Wicked thief!

[@adegbolaolayinka5401]

Oga that is not the question they ask you

[@simonealbiez8996]

Make Peace and stop confusìng the IGBO Nation

[@dozieweon]

Such a sad mess!

[@godwinemeka8460]

Both of u should go to your home town Nnewi and settle your case

[@emmanayoemmanuel1861]

Na wa oooooo!!! if you are having his money, simply pay your dept. no need for going round the bush!

[@unstoppableunstoppable8687]

Gbam!

[@mikeemeka1111]

This Ifeanyi guy is extremely dodgy. Throughout this interview, he had gave 2 straight answers. He's either digressing, distracting or prevaricating. He never ceases to use irrelevant stories to captivate his audience. Ifeanyi Uba, in my opinion, is a 1st class crook & a pathological liar. He has the capacity to not only delude his audience but himself as well. Heaven knows why Dr Maduka is reluctant to take this notorious man to the cleaners. Deal with Ifeanyi Uba at your own peril.

[@danielaghara1495]

Please, how old are you? When did you finish your education. ? Finally when did you started your business and where did you get your the money for your business. ? Have you ever ask Dr maduka for help. ?

[@Victorygabz]

You go to court to settle ur case nt in parliament. You took advantage of the fact that banks gave him free credit.. He's doesn't think cosmos is himself...😂😂😂😂... This guy's a thief..

[@4evanigachukwu676]

Mr, Mr Mr God will judge o

[@onyekapaul8649]

Plz why can't go to HRH igwe ... to settle this issue , Am ashamed of you people. Go home nd dialogue.

[@AkanbiOri]

This guy is such a thief...na waa oo

[@uzodimmajazzyjazzy3375]

Ifeanyi you have to sort this issue

[@deleamedu2220]

This dude is a big time criminal. All major banks in Nigeria know him to be a fraud. Cosmos Maduka trusted Ifeanyin Ubah despite warnings from Nigerian Banks but he failed to listen. He trusted his so called kinsman

[@gangajulioulrich9711]

Why

[@davbotton4599]

You are blessed by God and not by man. No wonder you are still shinning when all have gone low. Most of all you are honest.

[@krisken3944]

Shameless thief!

[@opaul7500]

*This guy appears to be creating intrigue to obscure matters.* *Only complaint I heard Mr Cosmas Maduka make is:* *WHY NOT HONOR YOUR CREDIT COMMITMENT GIVEN YOU IN TRUST AND GOOD FAITH?* Why dragging in the good name of Aig Imokkuede and others into the mess you're creating? Why trying to smear Mr Cosmas Madukas who has a right to be disappointed, and angry, and even desperate to save his good repute, and to an extent even yours. *Question I heard Mr Cosmas Maduka still asking is:* *WHERE'S THE PRODUCT???* Mr Ubah, the solution is simple: honor your commitment,...instead you are being a disgrace, and have been burning and are still burning the bridges that lifted you accross. Sooner or later that reputation will destroy your progress if you don't stop your ungrateful and deceptive ways.

[@ZinebSourmaho]

Both of you are too big for this. My if COS gave you money to do business return his money and the brotherhood continues. Dede watching from Barcelona.

[@pjprince3330]

THE UBA GUY IS NOT EVEN A GOOD LIAR. WHAT A WASTE OF TIME LISTENING TO THIS DRIVEL!

[@fjdstudios4485]

Thank you for commenting. I don't need to waste my time watching the rest.I stopped at 4 mins

[@thaifincommisionbkk3478]

this guy a rogue

[@EyaYorubaTV]

Ifeanyi Ubah was not answering the core questions. He was just babbling. Pure verbose. This man is a crook.He should pay Maduka his money. Cosmos is by far better this guy.

[@ugochukwuilechukwu8562]

I have read several comments from people that listened to the interview and passed judgement with out knowledge of the truth. I will now tell you the truth because I was involved. Access bank of which Maduka was a director refused Capital oil request for facility. Maduka got same facility for himself and passed it on to capital oil with understanding that Maduka will take 40% of the profit. . The facility was fully secured with capital oil assets.

[@hopechristfour7567]

Poor people

[@nonsononny5072]

Really?

[@apcapc7305]

Wise man!

[@godwinojimaattah5269]

Terrible liar. Ifeanyi Uba, calculated thief.

[@citytalkwithDJTOR3LL]

He is a liar

[@christopheruche5708]

Criminal go and pay nmaduka his

[@HedgeConnectFX]

What happened between two of you ooooooo? Answer

[@golderp]

What happened? Just say your side of the story, stop talking about when exactly you met and how great you are. Just clear up the accusations step by step. Liar!

[@funmichris8680]

He is clearly a case of narcissism

[@IfeanyiMaduka-oq7bn]

Ruka report

[@jiggyjagga]

Thief, Rogue, Liar.

[@rayanjensen7634]

Uba is a thief

[@rayanjensen7634]

Ifeanyi uba is a big thief

[@inspiration360degreeviewpa5]

Very evasive and dodgy in his response.

[@funmichris8680]

Exactly!!

[@anasobibensonperry2679]

Ifeanyi is frustrader, leaving the question to tell a different story, he sign credit consignment for over #100 million dollar, for u sell and pay the consignment did not come and u talking how u invested 900million, 24 billion and 900million are they the same thing?

[@mendozadakota3658]

Chai ifeanyi uba u r such a liar, Pls our people I would advise us to listen to the two interviews, after u will see ifeanyi is a liar.

[@adewalesalau6494]

they will always play tribal card

[@princeman3399]

adewale Salau u re a tribal bigot and u re full of hatred idiot

[@citytalkwithDJTOR3LL]

Ifeanyi Ubah is a man of questionable character since he helped Obasanjo bid for third term by distribute money to the legislature

[@bonyik7715]

Please you people should go home and settle your differences as people that came from one town and don't allow them to distroye you people, Be worn.

[@innocentonyebuchi2238]

Ifeanyi! Ifeanyi! Ifeanyi! How many times do I called u? Three times abi? Don't kill our spirit of helping each other plz I beg u Two, don't kill ur image, don't kill political career. Hope u know our people, right? Then, do fast to redeem ur image. By the way, it's the court that will settle this and not House as u have said; so read more to know. Thks Continue degrading ur image, that one concerns u. This simple drama shows u can sell our state Anambra if u...