Ifeanyi Uba Orders To Refund N5B Kerosene Subsidy Fraud Gain In 60 Days Or Face Arrest!

…how Dimeji Bankole helped him outbid

Otedola for the deal. The business empire of Capital Oil Boss, Ifeanyi Uba is threatened.

This latest threat is coming via the uncovering of an alleged N5b kerosene subsidy fraud.

This twist is coming barely weeks after he wiggled out of threats from financial institution he owes- particularly Enterprise- to take over his businesses in liue of debt owed.

He pleaded new arrangement to service and ultimately offset the loans.

He had stabilised his business empire with the netting of the kerosene marketing deal.

The move had transformed him into a bigger player than the acknowlegded ‘master’ in the terrain Femi Otedola. Ifeanyi Uba, Capital Oil Boss

He reportedly secure the deal via the influence of former Speaker of the FederalHouse Of Representatives, Dimeji Bankole.

‎Emeka Ihedioha, Deputy Speaker, House of Representatives facilitated the move between Dimeji and Uba.

‘They simple transffered Otedola’s business to Uba’ a source revealed.

The deal had greatly stabilised Uba’s business empire- until removal of subsidy.

He was tagged ‘very bitter over the development’

But recent investigation into ‘the deal’ by the authorities has however thrown up a fresh angle.

Uncovering of a N5b fraud in the exercise.

And according to informants- Uba has been asked to pay back the sum within 60 days or face arrest and prosecution.

He is said to be seeking way to broker a compromise at present.

Insiders claim ‘this a big blow’ to his business empire.

It is feared the role of Bankole in the deal may make the former speaker an accomplice if the case leads to arrest and prosecution.

The Capital Oil responded with ‘Non I Know’ when contacted on the matter.