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After thorough investigation over N11billion alleged petrol theft, DSS finally released Ifeanyi Ubah yesterday night

Ifeanyi Ubah

The Department of State Services (DSS) has reportedly released Chief Ifeanyi Ubah, the Chairman of Capital Oil and Gas Limited.

According to reports, Ubah was released after the DSS established a “No Case” following a very thorough investigation regarding an alleged theft of petrol worth N11billion kept in his tank by the Nigerian National Petroleum Corporation (NNPC).

“In furtherance of his gimmicks to undermine the government and people of Nigeria, he has incited members of the Petroleum Tanker Drivers (PTD), a critical player in the downstream sub-sector of the Petroleum Industry, to refuse/stop the lifting of products.

“This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in his favour with the ulterior motive of arm-twisting the NNPC to abandon the cause of recovering the stolen products. The implications of this on law and order is, in fact, a common knowledge. It is consequent upon this that the Service arrested and will prosecute him forthwith.

“The public is hereby reassured that the Service will collaborate with appropriate agencies to ensure that the mischievous activities of any person or group(s) to engage in illegal activities will not affect the effective distribution of products across the country. It will also support such agencies to bring to book individuals or companies involved in any criminal act that undermines the nation’s economy”.

Mr. Ubah had denied the allegation that he stole N11billion worth of oil kept in his tank by the NNPC.

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According to him, the NNPC owed his company over N16billion unpaid and overdue debt.

The DSS apprehended Ubah after he paid himself N11billion out of his N16billion the NNPC owed him.

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