Sen. Ifeanyi Ubah, In DEPT or IN-DEPTHED? -By Daniel Udeze Jr.

Ubah is a man befuddled with a lot of political and financial infirmities, he remains the largest individual debtor to AMCON in Nigeria, with well over N132 billion naira in debt which his Capital Oil and Gas owes the Nigerian state via phoney oil dealings, Senator Ifeanyi Patrick Ubah is clearly one of the most misunderstood politicians in Nigeria.
Justice Nicholas Owebo of the Federal High Court Sitting in Lagos, had two months ago presided over the fradulent value of assets tendered by Ubah and Capital Oil and Gas Ltd to offset the N132 billion debt owed AMCON.

Representing Anambra South under the platform of Young Progressive Party (YPP) at the hallowed Red chambers, the freshman senator and Nnewi born businessman defied all odds last year to win the keenly contested election by defeating the once formidable Uba brothers – Chris and Andy Uba.

The Economic and Financial Crimes Commission (EFCC), which has charged him to court in a bid to recover his debt, is looking to sell his assets to recover the cash. Ubah has however remained dogged and unruffled. He has openly said; “It’s not Ifeanyi Ubah that is owing to the federal government it’s Capital Oil.”

The senator, who has his eyes on the Anambra State governorship election this year, has been working to attract projects to his senatorial district and his state.

The federal government has finally approved his request to reconstruct some federal roads within his senatorial district. The approval was contained in a letter by the Federal Controller of Works in Anambra, Mr. Adeyemo Ajani addressed to Toshel Construction Company (TCC), the construction firm handling the project.

The Federal Ministry of Works & Housing had in a letter issued a stop-work order to the construction firm the senator engaged to undertake the reconstruction of some federal roads in Anambra South senatorial district.

Since the order was issued on November 4, the construction company had stopped construction work on old Oba-Nnewi-Ozubulu-Okija road, insisting that permission was not sought before the commencement of work.

Although, whether or not Ubah will steer the affairs of Anambra state come Nov 6, 2021 is left for the electorates to decide. However, The Anambra Youth Movement for Better Governance and the ŤÉTÁ Network which are vibrant voices and advocates for sound and better governance in Anambra state, have vowed to make the gubernatorial elections in Anambra state an era of newness for the Anambra people.

Udeze, is a Seasoned Investment Lawyer and writes from Lagos, Nigeria