DSS arrests Ifeanyi Ubah over alleged N11bn stolen oil products

THE Department of State Services (DSS) has arrested the Managing Director of Capital Oil and Gas Limited, Ifeanyi Ubah, over his alleged engagement in acts of economic sabotage, which included alleged stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigerian National Petroleum Corporation (NNPC), worth over N11 Billion.

This was contained in a statement by Tony Opuiyo, on behalf of the Service, a copy of which was made available to newsmen in Abuja, on Saturday.

The oil magnate, according to the Service, was picked up on Friday by its operatives.

The statement alleged: “It is instructive to note that Ubah has further engaged in other activities inimical to national security and public order. 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 implication 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 DSS assured that it would 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.