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Wednesday, November 14, 2012

ITS BATTLE ROYALE BETWEEN COSMAS MADUKA & IFEANYI UBAH

The drums of war that started sounding very recently between the Chairman of Coscharis and the boss of Capital Oil & Gas is not going to abate anytime soon from what we hear. The cause of this imbroglio from what we hear is a colossal amount, to the tune of 21 Billion. On one side, the Chairman of Coscharis Group and erstwhile director of Access Bank, Mr. Cosmas Maduka, claims that Mr. Ifeanyi Ubah has stolen his 21 Billion investment and that he would use his last drop of blood to get his money back, in his own counter claim, Ifeanyi Ubah, says he is being persecuted unjustly by a group of people, namely Minister for Finance & coordinating of the Economy, Ngozi Okonjo-Iweala, MD of Access Bank- Aigboje Aig-Imokhuede, Governor Peter Obi & Cosmas Maduka.

The aftermath of the battle royale is that Cosmas Maduka was able to get an injunction from an international Court to seize many of Ifeanyi Ubah's investments in different countries, following that Ifeanyi Ubah also went to a court in Nigeria and got an injunction stopping Cosmas Maduka from touching his properties or investments. Who would win this battle at the end of the day? No one knows.  Part of the down side of the whole unpalatable mess, is that Mr. Maduka has been forced to resign or was he removed as a director of Access Bank. Ifeanyi Ubah, claims that the MD of Access Bank is envious of him & would like to take possession of his company, he also claims that  the consignment expected from him, which is the major cause of the war was duly supplied and that the subsidy on it has been claimed and was even paid to Access Bank.

The sad part of the whole situation is that the warring parties are brothers kind of from the same place in Anambra State. We hear many important personalities have waded into the situation, including the presidency but both parties are yet to sheath their swords.

We believe there is still so much to this that both parties have not yet revealed. Each side from what we have observed seem to have an ace up their sleeves, that they want to release at the appropriate time. The media war from both sides is getting more and more revealing by the day. So we all are waiting with bated breaths to see as things unfold.
COSMAS MADUKA

IFEANYI UBAH

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