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Uba, Maduka N20 billion Probe Stalled by Okonjo-Iwe​ala’s Absence

By on December 7, 2012

Uba at National Assembly, yesterday

Investigations into the N20 billion fuel subsidy dispute between the Chairman of Capital Oil and Gas Limited, Mr. Ifeanyi Uba, Mr. Cosmas Maduka failed to hold yesterday following unforeseen circumstances.

The investigation been carried out by the house of representative was stalled for two reasons, according to the House Committee on Public Petitions, Mr. Uzo Azubuike, one,  the absence of the Minister of Finance, Mrs. Ngozi Okonjo-Iweala.

The absence of the Chairman, Presidential Committee on Fuel Subsidy, Mr. Aigboje Aig-Imoukhuede was the second reason coupled with pending law suits in court over the matter.

At the onset of the proceeding, the counsel representing Coscharis Motors, owned by Maduka, Mr. Osita Mbamalu informed the committee that the matter was already in court.

It however took the committee about 10 minutes to settle on the submission of Mbamalu, after which the postponement of the hearing was announced by Azubuike.

He said, “We are standing down the hearing for today; we are adjourning the hearing to Thursday next week.

“We want Coscharis and Access Bank to furnish us with court processes on the matter on or before Tuesday next week.”

Nevertheless, Uba who walk out on the session, told journalists that he would make sure that he was paid his money.

He said, “I will not contest the resolution of the House that we should come back next week Thursday; I have to comply with that. However, it is important to let Nigerians know that at this moment, our workforce is outside.

“We believe there is a grand conspiracy to strangle us, which started over 10 months ago. Since December last year, our payments have been stalled.

“With regards to verifications and unending investigations by the House Committee, we have been cleared by the House of Representatives; we were also cleared by the CBN.

“We were also cleared by the same Aig-Imokhuede on July 21; when they published 21 companies, our name was not there.

“Surprisingly, three weeks after July 21, our names came out with about 16 infractions.”