Chairman of Capital Oil and Gas, Ifeanyi Uba, has petitioned the leadership of the House of Representatives over the non-payment of the sum of N20 billion on fuel subsidy and portent danger to his multi-billion naira investment in the country.
Ubah who appeared in person alongside other Ndigbo chieftains and human rights activists from Lagos and Abuja, argued the investigation conducted by the Presidential Committee on Fuel Subsidy headed by Aig-Imoukhuede, was done without due process and fair hearing.
The embattled business mogul however, urged the House to set aside the report of the Presidential Committee on fuel subsidy due to conflict of interest.
The petition which was specifically against Access Bank PLC and Dr. osmas Maduka and his Company Coscharis Motors was eventually shifted to Thursday December 13 by the Reps Committee to enable more input as well as full attendance by the key players in the issue particularly the Minister of Finance and the CBN Governor.
The Capital Oil boss had written a petition dated November 14, 2012 to the Speaker of the House of Representatives, Aminu Waziri Tambuwal on the issue.
He claimed ” serious breach of fundamental Human rights, gross misrepresentation, suppression and concealment of material facts, threat to life, fraud, deceit, infringement, gross violation of banking rules and regulations and the constitution of the Federal Republic of Nigeria via attempt to forcibly take over Capital Oil & Gas Industries Limited under false presence resulting and culminating in non-payment of over N20 billion due to Capital Oil &Gas Industries Limited.”
According to Ubah, this was being done ” under an unending ongoing investigation that spanned for over 10 months in a transaction that was guaranteed by the respected and reliable Federal Government of Nigeria Sovereign debit note of 45 days.”
The petition read in part: “Willful refusal of the federal Ministry of Finance to pay us over N20 billion under the pretext of Aig-Imoukhuede committee’s verification and recommendation.
“Strangulation of our company and the inevitable consequences of over 3000 personnel losing their jobs due to none payment of their salaries as a result of the willful refusal of the Ministry of Finance to remit the overdue subsidy payment.
“Unethical and insider abuse by Access Bank Plc and Mr. Cosmos Maduka contrary to sections 18 and 20 (2) of BOFIA 2004.
“Collusion, connivance and conspiracy between Dr. Cops as Maduka and the MD/CEO Access Bank PLC, Sig- Imoukhuede to strangulate, destabilize and take over Capital Oil & Gas Industries Ltd under false presence of a disputed loans facility.
“Willful attempt to destabilize fuel supply and create artificial scarcity in Nigeria to undermine the civil security of the Nigerian people,” he alleged.
Ubah In a chat with reporters after the aborted hearing said: “We have close to N20 billion with the Ministry of Finance and this money is also meant for banks, we have lost much in their quest to take over our assets. Is it a sin for us to invest in Nigeria, is it a sin for us to render services to Nigerians. How can they say what we are doing is fraudulent, why are they trying to kill this company?
“No multinational company have done what we did in five years in their 50 years of doing business in Nigeria. Why must we go through this mess because we are Nigeria company. Nigerians need to know the truth, I want them to bring the people involved, I don’t know why the chairman of the Subsidy team is not here today, but he has been going to London campaigning for people to come and testify against me. They have been trying to bribe my workers to testify against me.”
However, the House committee on Public Petitions headed buy Ozor Azubike, flayed the Minister of Finance, Mrs. Ngozi Okonjo-Iweala and the Governor of the Central Bank, Sanusi Lamido Sanusi as well as the DG NIMASA for shunning the session.
The committee finally ruled that the hearing would be adjourned to allow the Minister and the CBN Governor make an appearance as well as allow those who claim the hearing is sub-judice to present documents to that effect.
The chairman of the committee also ordered the Clerk,of the Committee to make the sub,issuing of all parties available to all key players in the issue in order to foster transparency.
