DSS Sets Ifeanyi Ubah Free

Dr. Ifeanyi Ubah, the managing director of Capital Oil and Gas Limited has been released from the Department of State Services’ (DSS’) detention after several weeks.

Newsmakersng learnt that Ubah was released last night unconditionally by the DSS after a “No Case” was established, following a tedious investigation by the DSS in his rift with the Nigerian National Petroleum Corporation (NNPC).

The DSS had arrested Ubah over his alleged connection with a claimed theft of petrol kept in his tank farm in Lagos by NNPC.

The product, it said, was valued at over N11 billion. The agency said Ubah’s action amounted to economic sabotage, with “capacity to negatively impact on national economy”.

A statement by its spokesman, Tony Opuiyo disclosed that Ubah was also arrested because he further engaged in other activities inimical to national security and public order.

DSS stated: “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.”

However, the source from Ubah’s camp who also confirmed his release said the oil magnate decided to keep his release a low key affair.

NNPC had accused Ubah of diverting its product in his tank farm amounting to N11billion.

But Ubah had denied the allegation, maintaining he is innocent while providing proves that the NNPC was not sincere with its position against him.

Ubah had, through an official letter from his firm, confirmed that he had a face-off with the government-owned firm, NNPC, over unpaid and overdue debt amounting to over N16billion owed his company, Capital oil & Gas.

0
Dipo

Dipo Kehinde is an accomplished Nigerian journalist, artist, and designer with over 34 years experience. More info on: https://www.linkedin.com/in/dipo-kehinde-8aa98926

Recent Posts

Arase Mourns Lagbaja in Letter to Defense Chief

Segun Atanda/ Former Inspector General of Police, Dr. Solomon E. Arase, CFR, has expressed deep…

2 hours ago

The Continuous Rise of Nigerian Voices on TED

Kola Kehinde/ The TED movement, launched in 1984, has transformed from a small gathering of…

2 hours ago

Boy, 15, Axes Mother to Death after She Confiscated His Tablet to Make Him Do His Homework

Editor/ A 15-year-old boy in Russia has reportedly been taken into custody after police say…

5 hours ago

Beaten and Humbled: Bolt Driver Apologises to Lawmaker who Assaulted Him over Simple Delivery

Pat Stevens/ Stephen Abuwatseya, a Bolt driver, has publicly apologised to a politician who allegedly…

6 hours ago

NNPC, SPDC Joint Venture Donates US$1 Million to Support Borno Flood Victims

Malik Yahya/ The Shell Petroleum Development Company of Nigeria Limited (SPDC JV)—operator of the NNPC…

10 hours ago

Federal Reserve Chair, Powell, Says He’ll Refuse to Step Down if Trump Asks

Femi Ashekun/ Federal Reserve Chair, Jerome Powell, has declared that he wouldn’t resign if President-elect…

21 hours ago