IPMAN crisis: Faction threatens legal action against Capital Oil

CRISIS rocking the leadership of Independent Petroleum Marketers Association of Nigeria (IPMAN) worsens as Chinedu Okoronkwo-led faction threatened legal action against Capital Oil and Gas Company for using IPMAN brand on its tank farm.

The group’s threat was contained in a communiqué issued after the National Executive Council meeting of the Okoronkwo-led IPMAN in Lagos at the weekend, signed by Mr Chinedu Okoronkwo and Alhaji Danladi Pasali, the factional National President and National Secretary respectively.

According to the communiqué, the National Executive Council issued a 7-day ultimatum to Capital Oil and Gas Limited to urgently remove the association’s name branded on its tank farm or face the full wrath of the law.

“If IPMAN name/brand engraved on the Capital Oil and Gas tank farm is not removed, the executives of the association would not hesitate to sue the company,” he said.

The executives however warned IPMAN members and the general public to be wary of doing business with Capital Oil under the IPMAN brand as the executives were not aware of the agreement.

According to the communique, “we hereby bring to the notice of our members and the general public of the purported agreement signed with one Mr Ifeanyi Ubah of Capital Oil & Gas Ltd and some acclaimed members of IPMAN without the knowledge of the National Executive of IPMAN.

“Therefore, members should beware of this intended deceit. More so, IPMAN as an association must be bound by the laws of the land. Hence Ifeanyi Ubah and Capital Oil & Gas with their infamous Kero-Direct wherein IPMAN members were short changed should not come under any guise whatsoever to deceive and rip off members of the association again.”

The communique stated that its was mischievous act and was done in a gruesome attempt to deceive the general public, international investors and other IPMAN stakeholders.

It may be recalled that recently, IPMAN announced a reconciliatory meeting whereby it was announced that all the internal crisis rocking the association has been resolved. And it was also announced that IPMAN, in partnership with Capital Oil and Gas Limited, now has its own tank farm with IPMAN’s inscription on the three tank farms formerly belonging to Capital Oil and Gas Limited.

At the reconciliatory meting, the Chairman, House Committee on Downstream, Hon. Joseph Akinlaja, applauded the association for ensuring that all stakeholders are brought together to ensure unity.

“Some of us were concerned due to divisions in IPMAN. People have taken advantage of the division in your association. You may find it difficult to negotiate the welfare of your members when divided. It is important to remain united and focus going forward. I urge other members to cue into this unity all across the nation,” he said.

In his reaction, the chairman of Capital Oil & Gas Ltd, Ifeanyi Ubah said he only recognises Obasi Lawson-led executive as the authentic executive that can legally deal on behalf of IPMAN.