Ifeanyi Ubah steals N11bn worth of petrol -DSS

OrijReporter.com, Ifeanyi Ubah steals N11bn worth of petrol

he Department of State Service says it arrested Chief Ifeanyi Ubah for allegedly stealing N11bn worth of fuel, adding that the oil magnate incited members of the Petroleum Tanker Drivers to embark on strike over his investigation by the agency.

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DSS made these allegations against Ubah, who is the MD of Capital Oil and Gas Limited, in a statement signed by its spokesperson, Mr. Tony Opuiyo, in Abuja on Saturday.

The statement reads in part, “In line with the statutory mandate of the DSS to investigate economic crimes of national security dimension, the Service, on May 5, 2017, arrested Ifeanyi Ubah, Managing Director of Capital Oil and Gas Limited.

“The arrest was sequel to UBAH’s engagement in acts of economic sabotage which include stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria NNPC.

“So far, it has been established that the products stolen amount to over Eleven Billion Naira (N11bn). There is no doubt that UBAH’s acts have the capacity to negatively impact on national economy.

“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, 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.”


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