Soludo, Andy Uba, Ifeanyi Ubah vie for APC ticket in Anambra.

Charles Soludo, former CBN governor, and twelve other aspirants have indicated interest to contest for the All Progressives Congress (APC) ticket in the forthcoming Anambra governorship election later this year.


Other contestants are Andy Uba, Ifeanyi Ubah, George Muoghalu, Barth Nwibe, Obinna Okonkwo and Paul Chukwuma.


The rest are Chike Obidigbo, Raph Okeke, Tony Nwoye, Uche Ekwunife, Obinna Uzor and Donatus Okonkwo.


Emeka Ibe, chairman of the party in the state, made this known to reporters in Awka, the state capital, on Tuesday.


Soludo, Ifeanyi Ubah, Andy Ubah have all contested for the governorship seat in the past, either on the PDP or Labour Party platforms, but failed.


Ibe added that there would be no automatic ticket for any aspirant. He said they would all participate in the state’s primary before a candidate would emerge.


“We will give all aspirants equal playing ground. There is no special interest in any aspirant,” he said.


“We will hold transparent primary for them because they are all qualified to unseat Gov. Willie Obiano.


“Any of them who emerges as our candidate in the state is capable of removing Obiano from office.”


He added that the party would embark on continuous membership registration exercise before the end of the month to accommodate those who want to join in the state.


However, Ibe said anybody with criminal records would not be allowed to join the party in the state.


He maintained that there was no zoning arrangement in the party, adding that new members would have equal rights as old ones.


Source: The Cable

How Buhari Can Crash The Dollar/Naira Disparity- Ifeanyi Ubah

Nnewi-born billionaire and Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, has offered the President Muhammadu Buhari-led administration what he described as the best possible ways to addressing the biting recession, as well as crash the proliferating Dollar/Naira disparity in the foreign exchange market.

Speaking at the World Youth Gathering, Holy Ghost Adoration Ground, Uke in Idemili North Local Government Area of Anambra State, Ubah lamented that there is nothing wrong with the Nigerian economy, but rather said the country’s major problem is that it has bad economic managers.

Recall that last February, Ubah had vowed on a national television that if consulted by President Buhari, he could use his technical-know-how to stabilize the Naira to an exchange rate of N200=$1. Then, the Dollar/Naira disparity had skyrocketed that N400 was already exchanging for $1 in the Parallel market.

Insisting on his earlier stance of possessing the technical-know-how on how the Dollar/Naira disparity can be crashed, Dr. Ubah pointed that “the only solution to Nigeria’s economic problems is one- addressing the cancer to our Forex which setting up 10 modular refineries can solve that problem. The second cancer that is affecting us is the Economic and Financial Crimes Commission (EFCC).”

The oil magnate stated at the Adoration Ground in Uke, “I said that I am going to bring down the dollars, I sought for consultations because in the past I have done so many things and at the end of the day, people took the glory.

This is an issue that is very important to me. Government must understand that Bill Gates, one of the richest men in the World today said, ‘it’s not about academics, it’s about being streetwise.’ “Money-making is an art.

There is nobody that can’t make money. It depends on how you design the art of how you want to make money. Now, let me give you an example today and let me also proffer a solution to Nigeria’s economic problems. “The biggest Forex consumer in Nigeria today, is the Petroleum Product (Downstream), of which I am the leader.
Petroleum products take over 75 per cent of the Forex that Nigeria generates. Therefore, if you want to attack the difference between the Naira and the Dollar and of which no expert has been able to find out a solution, what you need to do is to find an alternative that you need to energize in Nigeria, so that the demand for Forex needed for the importation of petroleum products will crash.
“If you do that, you have taken away 75 per cent of that cancer that is taking away our dollars. And how do you do this? There’s what is called top-up refineries. Some top-up refineries can cost us as little as $200million.

“I am the Chief Economist of this country, and I want to bring back the value of Naira; if I want to bring back life to the economy of Nigeria, what I need to do is to take up a bond from our reserve of $2billion. If I am able to take a bond of $2billion from our reserve, which is not money I am spending, but a bond, our money remains. And I can take this $2billion and then share it among 10 companies.

And In that 10 companies, I will create Special Purpose Vehicles (SPVs) of 10 oil marketers to one company.

“If you bring 10 oil marketers to run one company and government funding them for 10 years, it means that all of us will go there and bring the best of us to manage the company.

“Therefore, what we are going to do is create 10 companies along the whole water lines of Nigeria, and in six months time, we can now refine our crude oil here in Nigeria, instead of taking it abroad to refine. And by so doing, we don’t need to buy dollars anymore to import petroleum products.

It means that we can now be refining our crude oil, using it to produce our own petroleum deeds. “Petroleum product is one of the biggest factor today in this country. Without fuel, nobody can drive to Uke today. If there are students going on strike, government may show neglect. If doctors go on strike, government may neglect.

But once there is a strike over fuel government will always run to see how it will stop the strike.” According to the Publisher of Authority Newspapers, “We must understand that fuel is a critical factor in Nigeria. Because it’s a critical factor in Nigeria today, government is so fragile not to challenge the petroleum industry.

“This is very important and whoever is the Chief Economist of Nigeria must take this as the only solution. There is no other solution. “This solution is coming today in the Adoration Ground and this is the first time I am saying it. That is the secret I said I need them (government) to consult me.

But today, if they can translate it, they will know that Holy Ghost of Adoration Ground has revealed it.”

The President FC Ifeanyi Ubah said, “The only solution to Nigeria’s economic problems is one- addressing the cancer to our Forex which setting up 10 modular refineries can solve that problem. The second cancer that is affecting us is the Economic and Financial Crimes Commission (EFCC).

“The duty of EFCC is to look into financial crimes. The duty of EFCC is look into those that have taken so much of waivers.

So many people in Nigeria today are big men because they are enjoying government waivers. And majority of Nigerian big men are lazy people. They always find a way to take waivers.

“The EFCC must come to terms with their duty and start creating real economic crime desk. If the EFCC can be able to look into every importer accessing dollars and what our dollars are being used for.

If the EFCC can create an economic code that everybody that must access dollars should bid through the EFCC and then everybody must sign a guarantee, a bond that government can look into whatever he has bidded with the money before he bids it, those that are milking Nigerian dollars will run away.

“The EFCC must stop only pursuing past leaders.

Not that they would not do their job in pursuing past leaders, but they need to look into how many Nigerians are taking waivers, how many people are accessing dollars for agricultural contents, but they are using the dollars to go to Dubai, bringing the dollar back into the country and making money without doing anything.

“I am saying all these things because of my love for this country. There is no problem in Nigeria. The only problem we have is that we have bad managers. We have bad economic managers.”

“However, once government will begin to look towards the direction of people that will help them to achieve the goals that can bring back our economy, then Nigeria can have a better future,” he stated.

Billionaire Ifeanyi Ubah Caught On Camera Slapping Heartland FC Goalkeeper (WATCH)

Billionaire business man, Ifeanyi Ubah, faces sanctions for his role in the violence that erupted during a Nigeria Premier League game between his club, FC Ifeanyi Ubah, and Heartland FC.

The League Management Company said it would review the sanctions earlier meted out against Ubah and Heartland goalkeeper, Ebele Obi, after a video showed more details of the roles played by the two actors.

Watch video posted by a facebook user below:

I Can Grow Nigeria’s IGR By 30%, Ubah Tells FG

Chairman, Capital Oil and Gas Limited, Mr. Ifeanyi Ubah, has disclosed that in addition to his plans to force a reduction in the dollar exchange rate, he has designed a template to boost Nigeria’s Internally Generated Revenue, IGR, by 30 per cent.


In a press statement in Abuja, Ubah also stated that contrary to reports, he is yet to be approached by the Federal Government as regards the foreign exchange (forex) issues.


Ifeanyi Uba Commenting on his new initiative, Ubah said,

“It may also interest Nigerians to know that my team and I have also been working tirelessly on a number of issues aimed at fostering the growth and development of Nigeria and her economy. “We have designed two templates/systems on how Nigeria’s Internally Generated Revenue can be grown by 30 per cent guarantee. However, we have decided to push our concepts and strategies out in phases. This will come in the next phase of our intervention scheme. I leave this in the hands of Nigerians and for posterity to judge.”


Ubah wondered why the leadership of the country had shown no real interest in addressing the challenges currently facing the country, while he accused them of politicizing issues of national importance.


He said: “My pertinent question remains: If the current leadership really cares about Nigeria and Nigerians, why haven’t sincere efforts been made to curb this menace? I have volunteered to serve and vowed to commit everything I have and possess to the success of this cause.


“However, it is distasteful to note that ever since I made an appearance on television on the 21st of February, 2016, the relevant authorities saddled with the responsibility of saving our economy would rather play politics with the issue – an occurrence that is far too frequent and way too detrimental.”


He reiterated that his determination to salvage the Nigeria economy from the doldrums was for the sake of posterity and also for the interest of all Nigerians.


According to him, the desire/motivation to intervene in the current state of affairs in the country emanates from the deep concern I have for the masses and I remain resolutely committed to the Nigerian people, whom I pursue this genuine cause for.


He noted that he does not have much need for the dollar in carrying out his businesses, but that his loyalty rests with those traders who cannot import anymore because of this outrageous hike in the exchange rate.


He said, “My concern lies with those parents who cannot afford to pay the school fees of their children studying abroad or the sick, who on health grounds travel abroad, but find the prices to be paid for treatment too steep as a result of the exchange rate. I am worried for those ICT professionals who need software from foreign countries but have to pay double as a result of the freefall of the Naira.”


Credit: Vanguard

If Buhari Doesn’t Act Now, Those Sabotaging The Naira May Return To Business – Ubah Warns

Following yesterday’s rebound of the Naira against the Dollar, Chairman of Capital Oil and Gas, Dr. Ifeanyi Ubah on Thursday warned that there is a time limit within which he can prevent speculators from causing further damage to the Naira.


The businessman, who warned that the saboteurs responsible for the decline in the value of the Naira.


“might still go back to their old business and the dollar will go up” if the Federal Government does not quickly act in line with his advice, stating that he has been receiving threat messages since he volunteered to help revamp the Naira.
It would be recalled that Ubah had on Sunday at a Channels Television programme stated that he had what it takes to restore the Naira, which was by then trading at close to 400, to 200 against the dollar in one month, if consulted by President Muhammadu Buhari.


He had said, “Look at the economy, look at the position of the naira today; some of us have ideas on how we can restore this.”

“It won’t take me one month, if Buhari gives me part of that consultancy, and naira would come back to 200.

“I can bet my life with it, naira would come back to N200. If you call me for that consultancy, I would put naira back to 200.”
Three days after he made this claim, the Nigerian currency firmed up against the Dollar in about 100 per cent, to the extent of trading at 250 against the American greenback as at yesterday.


But reacting to this in RayPower 100.5 FM programme: Political Platform, the Capital Oil boss said:


“I’ve been getting threats from certain individuals using unknown numbers.


The issue is this: I sincerely believe that one with God is majority. If government is sincere with the masses, let them look into what we are saying. Let them look into what Nigerians are saying. We cannot keep this thing for long. They might still go back to their old business and the dollar will go up.


“I’ve volunteered to help. I am not a jobless person. If they don’t do what they are supposed to do, I will go back to my business. I have something I’m doing. What I wanted to do is to get involved and at the same time advise the people saddled with the responsibility. I’m not only saying the president should call me. I said even the managers of forex, even the CBN can invite to say can you give us a lecture, can you help us with the market square information.


Let me give them the advice on what they need to do because we understand this thing. You cannot come into any strong position in government without being a practical person. You must practicalize the way things happen in this country and then you add academic concept into it and then you bring a good result.”


Speaking on what he would do if invited to manage the Naira, he said:


“I will tell them look gentlemen, we are here for business. This business is not for us to enrich ourselves. This business is not for us to monopolize things for ourselves or to corner something to ourselves or to our cronies. We are here to serve Nigerians, let us make this thing available to Nigerians so that Nigerians can be happy and God will be happy with us.”


Ubah, who told the anchors of the programme that he does not want to take credit for the substantial firming up of the Naira against the Dollar, gave an insight into how he went about achieving the feat thus:


“What I am telling you is that since Sunday that we took that position, people within my structure disseminate close to 70,000 text messages at every time we disseminate information and if you understand the multiplier effect of that 70,000 contacts which spreads to so many millions. This is what we need.

“You need to build into the consciousness of people that this is where we are going. This is what is happening. If you don’t have a means of disseminating information, people will not understand what is happening.

“I’ve not taken contract from government and I don’t need anybody to pay me anything. All I want is for Nigerians to be happy,” he added, even as he maintained that the Central Bank of Nigeria, CBN, lacked the right approach and the political will to secure the Naira: “Some of the policies CBN has are academic policies. It’s not a market-square policy. It’s not a policy that touches people. They have academic policy and there is no enforcement. Have you ever heard that CBN prosecuted one single individual in the last two years for violating foreign policy?” he asked.


Credit : Daily Post

Breaking: Ifeanyi Ubah Moves To End Fuel Scarcity; Orders 13 Million Litres Loaded For Nigerians

CEO of Capital Oil & Gas Ltd., Ifeanyi Ubah, has released a press statement on the ongoing fuel scarcity with a hint to almost single-handedly bring provide a temporary solution read.

On Saturday 16th May 2015, we received an SMS ordering the suspension of loading activities in all depots from Monday 18th May 2015. We later realized that this directive was as a result of unpaid funds owed to transporters by oil marketers who in turn are owed by the Federal Government. This development has resulted in immense hardship to our fellow country men and women. We believe that a better solution can be pursued towards solving this problem in a way that does not adversely affect our dear citizens.

Capital Oil and Gas has watched with so much pain, the suffering and hardship our citizens have been subjected to as a result of scarcity of petrol, diesel, aviation fuel and household kerosene. We are deeply pained to hear that hospitals cannot perform surgeries, laboratories are unable to carry out much needed tests especially for emergency patients leaving such patients at risk of dying, radio stations are shutting down, communication is being affected as MTN and other telecommunications company have announced an impending shut down while homes, offices and key facilities nationwide are experiencing blackouts. In some parts of the country, petrol is already selling at an all-time high of N1,000 per litre. Our citizens have left their homes and are now sleeping in fuel stations, facing the risk of robbery attacks and other attendant risk.

In a few days’ time, a new government headed by General Muhamadu Buhari will be sworn in. Apart from our citizens being unable to watch the handover on television and unavailability of transportation for attendees of this historic handover, the resulting chaos from this scarcity may shutdown the Nation and sabotage the efforts Nigeria has made to attain greater heights.

We are constrained at this point and have decided that two wrongs cannot make a right. We will not be part of this sabotage against our fatherland. Therefore from this minute, we shall take the risk of opening our facilities and commence swift loading and distribution of products Nationwide.