DSS Arrrests Billionaire Ifeanyi Ubah over alleged oil fraud


The Chairman of the Capital Oil and Gas limited, Ifeanyi  Ubah has been arrested by the Department of State Services (DSS).

 According to source, the department made this known on Saturday in a statement by its spokesperson, Tony Opuiyo.
 He said Ifeanyi Ubah was arrested on Friday in connection with the theft of petrol kept by the Nigerian National Petroleum Corporation (NNPC) in his tank farm in Lagos.
 The product was worth N11 billion.
"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 carry their sentiments and cause them to embark on strike and also stage protests in his favour with the ulterior motive of making 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 forrthwith," the statement read in part.
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