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Ifeanyi Ubah Reacts - says Cosmas Maduka can SELL his Brother for Ten Naira on Channels TV .Presidency summons Coscharis Boss

Between Ifeanyi Ubah and Cosmos Maduka

TheThese are not the best of times for oil magnate Ifeanyi Ubah. The head honcho of Capital Oil and Gas group may have gained his freedom after several days of being detained by the Special Fraud Unit (SFU) of the Nigerian Police courtesy of an administrative bail, but he is fighting hard to clean up his soiled reputation.

But in a Stunning channels Interview Ubah claims Maduka is the Crook even calling him he can sell his brother for Ten naira ! on channels TV ! 

Cosmas Maduka

The Eagle Online learnt that Mduka was summoned on Sunday afternoon as he was about leaving his Abuja home for the 70th birthday celebration of a former Governor of Anambra State, Dame Virginia Etiaba

Owing to his face-off with the boss of Capital Oil and Gas, Ifeanyi Ubah, the owner of Coscharis Motors, Cosmas Maduka, has been summoned to the Presidential Villa, Abuja.
The Eagle Online learnt that Mduka was summoned on Sunday afternoon as he was about leaving his Abuja home for the 70th birthday celebration of a former Governor of Anambra State, Dame Virginia Etiaba.
It was gathered that it was the wife of President Goodluck Ebele Jonathan, Dame Patience, that summoned Maduka.
Informed sources told The Eagle Online that Mrs. Jonathan, who has the confidence of Ubah, wants to prevail on Maduka to drop his face-off with Ubah, which accounted partly for why the oil magnate is being tried for his alleged role in the fuel subsidy fraud.
Ubah was arrested by the Special Fraud Unit of the Nigeria Police and has been on trial.
He was remanded for about two weeks before the trial eventually commenced, when he was then granted bail.
The Eagle Online will keep you posted as events unfold at the Presidential Villa.
Maduka was yet to leave the seat of power as at press time.


Source: The Eagle Online

There was a buzz in the high society over the well reported claims of the SFU that Ubah collected the naira equivalent of monthly allocations of 11 States in Nigeria through contracts of importing and selling 538, 74 million liters of Premium Motor Spirit (PMS) during the 2011 fiscal year, through 26 transactions for which his company collected a whopping N23 billion. Just as Ubah’s close associates heaved a sigh of relief that he had been released by the SFU, one of Nigeria’s most respected investors, Cosmos Maduka fired a salvo accusing his fellow Nnewi indigene of defrauding him.

This is the second allegation of fraud leveled against the oil mogul. According to the Coscharis boss, Ubah failed to keep his part in a PMS importation deal for which his company acquired a $164 million facility from Access Bank. And the characteristically taciturn man behind Coscharis has vowed to get all his money back from the young businessman whose opulent 40th birthday celebration had many talking about how ministers and governors took turns to felicitate with him.

Those who know Maduka say he just might be Ubah’s nemesis and judging by his words, there is no way the born-again businessman will let go until he gets his money back. “Ifeanyi Ubah may have defrauded the Federal Government and other individuals and gone free but given the fact that I earned every kobo through my sweat, I will collect my money to the very last kobo” he said in a well-publicized statement.

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