Breaking news:AMCON Returns Capital Oil to Ifeanyi Ubah amidst commendation

   

The Assets Management Corporation of Nigeria (AMCON) has formally announced the return and restoration of all rights, privileges, management and ownership Capital Oil Group, to Dr Patrick Ifeanyi Ubah with immediate effect reports Odogwu Blog.

 In a release from the chairman of AMCON, Alhaji Aliyu Kola Belgore and signed by the group's Head of Communications, Strategy and Research, Kayode Lambo the positive development was sequel to "amicable settlement of all pending legal disputes between the parties.

 
The release reliably gathered by Daily Independent in Awka stated thus,  "Consequent upon this settlement, Chief Patrick Ifeanyi Ubah will be resuming his role as the Managing Director /Chief Executive Officer of Capital Oil and Gas Group.

 "His resumption as the MD/CEO of Capital Oil/Gas brings to an end the management of Capital Oil/Gas by AMCON...", the statement continued.
 
 A telephone call to both Alh Belgore as well as Lambo rang out without any response while a call to Ubah was answered by one of his aides who declined comments but politely said that his boss was in a "crucial management meeting", in Abuja.
 
In a reaction over the development, a political icon in Anambra, Engr Maduka Okoye who spoke to journalists in Awka described it as a welcome development.
 
 He noted that no one can manage a project that emanated from years of sweat, hard work and systematic planning better than the owner/ visioner.
 
 He pointed out that the latest move by AMCON will allow the Capital Oil and Gas group get better attention and positioned to take its pride of place in the downstream sector of the industry and also help correct the hitherto impression that the oil magnate was made to suffer such fate because he is an Igbo man.
 
 Okoye observed that thousands of individuals who were relieved of their jobs because of the face off can now heave a big sigh of relief because of  the renewed hope of getting recalled back to the oil company.

An executive of the Independent Petroleum Marketers Association of Nigeria, (IPMAN) Chief Ikechukwu Madu told journalists in Awka that it has restored the trust his organization has in the FG and her agencies as agents of positive development  .
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 As well, an Onitsha-based business woman, Princess Edith Anukwu urged all parties to the crises to maintain a cordial relationship, after a peaceful and permanent resolution of all the pending issues in the true spirit of patriotism and brotherliness so that the giant oil company will not be made to suffer again. She pointed out that when two elephants fight, it is the grass that will suffer.
 
 She commended Ubah , saying , " All the good people of Nigeria particularly the youths are very happy for this development because we fully appreciate the net effect of the empowerment of a single individual on his immediate and extended family as well as the entire society, it is our hope and prayer that this peace initiative would be allowed to see the light of the day. We are indeed very happy and words will not be enough to express our happiness." Anukwu enthused.
 

 Mrs Chinwe  Okoye an Awka based civil servant who commutes between Awka and Nnewi daily said he was particularly excited believing it would definitely affect the fares positively in and around the state generally.