DSS Arrests Chairman Capital Oil, Ifeanyi Ubah

Oil magnate and chairman of Capital Oil and Gas Limited, Ifeanyi Ubah, has been arrested
by the Department of State Services, DSS.
<img src="https://www.okay.ng/wp-content/uploads/2017/05/Ifeanyi-Ubah.jpeg" /
The department made this disclosure on Saturday in a statement by its spokesman,
Tony Opuiyo.

Opuiyo said the former guber aspirant in Anambra State 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 valued at over N11 billion. The agency said Ubah’s action amounted to
economic sabotage, with “capacity to negatively impact on national economy”.

“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,” the statement added.