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3 mistakes of Ifeanyi Ubah in N11 billion drama

Ifeanyi Ubah

Accused and detained by the Department of State Security since Friday, May 5, 2017, for allegedly stealing N11 billion petroleum products stored by Nigerian National Petroleum Corporation in the tanks of Capital Oil and Gas, Ifeanyi Ubah faces one of his life’s greatest trials.

Apart from being accused of theft, there are moves to pin economic sabotage and attempt to compromise national security on the 45 year old mogul from Otolo, in Anambra state.

While the businessman is claiming that he’s being owed that much by NNPC, many have itemised some of the steps he should have taken to avoid being enmeshed in this mess.

 

Those who know the rudiments of business and how to tackle obstacles listed the mistakes the bulky football lover made to encomium.ng:

 

  1. He should have avoided the business of NNPC since it has a reputation of not paying speedily, or accepted a volume he could cope with without prompt payment.

It is better to take on the volume of transactions that won’t jeopardise a business than accept a quantum that will rock the boat.

 

  1. He should have explored all means of payment in all legimate ways.

From meetings with the directors of NNPC, to seeking arbitration, pleading and persuading.

 

  1. He should have gone to court.

That’s what the judiciary is for.  To adjudicate in matters between contending parties.

You cannot resort to self-help in disagreements.

 

The question is, can you sell the ‘property’ of a debtor? Only with the express order of a court.

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