Capital Oil Boss, Ifeanyi Uba Accused Of Mischief Over Cosmas Maduka’s Retirement From Access Bank

…Allegedly spreading falsehood to muddle up issues in N21b debt

Capital Oil Boss, Ifeanyi Uba is accused of spreading falsehood in the retirement of Mr Cosmas Maduka as Director of Access Bank.

According to information made available to societynowng.com (and released by the bank) Mr Maduka ‘retired as a Non-Executive Director of the bank, following the expiration of his tenure as stipulated by the Central Bank of Nigeria (CBN).

‘ Maduka’s retirement is sequel to his completion of the maximum 12 year term as provided by CBN’s Code of Corporate Governance for banks in Nigeria after the consolidation of the banks.’

Agents of Mr Uba had reportedly hit town colouring the resignation as sack- and claiming credit for the development.

According to those claimed to be in the know, the game plan is to ultimately discredit Mr Maduka- front person of Coscharis group and muddle up Uba’s N21b debt to Access bank.

The Capital Oil boss is indebted to the Aigboje Aig- Imoukhuede led financial institution on the guarantees of Mr Cosmas Maduka, now his estranged benefactor.

Efforts to get Uba to repay the loan is the crust of ongoing battle between Uba , Mr Maduka and Access bank.

The Oil baron listed as a major Oil Subsidy offender is charged with diverting $133million worth Petroleum Products financed by the Bank for a Joint Venture Agreement between himself and Dr. Maduka.

Till date he has been unable to repay invested fund or produce products.

Sources claimed with court cases home and abroad indicting him- and others that made it about 90Billion debt profile (including that of AMCON that led to wide spread seizure of his recently released business and properties)- Uba’s game plan with his latest antic is to portray Maduka and Access bank as without credibility.

A ploy he reportedly planned to leverage on, in his bid to muddle up issues in the case against him- and ultimately not pay his debt.

A glimpse into the alleged smear campaign against Maduka by agents of Uba revolves around an alleged sack over dealings that flouted Central Bank’s stipulate and a N3m sanction against the bank.

The petition that resulted in this development was allegedly made by the capital Oil boss’ agent.

An assertion Sources within the bank claimed as ‘spurious and total falsehood’

Here is a link to societynowng.com’s initial report the Maduka and Uba deal gone sour (N70b Banks Debts, N4.8b Private Jet & $130m Cosmas Maduka Deal Gone Sour Land Capital Oil Boss, Ifeanyi Uba In Deeper Financial Mess With Police! )