DSS arrests Ifeanyi Ubah over alleged illegal sale of N11bn petroleum products

The Department of State Services ( DSS) has  arrested the Managing Director of Capital Oil and Gas Ltd., Mr Ifeanyi Ubah, over alleged acts that are  inimical to the economy, an operative, Mr Tony Opuiyo, has said.
Opuiyo said in a statement in Abuja on Saturday that Ubah was arrested on Friday for allegedly stealing, diverting and illegally selling petroleum products stored in his tank farm by Nigerian National Petroleum Corporation (NNPC).
“So far, it has been established that the products stolen amount to over N11 billion,’’ he said.
The operative also said Ubah allegedly engaged in other activities inimical to national security and public order.
He said Ubah allegedly incited members of the Petroleum Tanker Drivers, a critical player in the downstream sub-sector of the petroleum industry, to 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.
“There is no doubt that Ubah’s acts have the capacity to negatively impact on national economy,’’ Opuiyo  said..
He said that it was for the reasons listed that the Service arrested Ubah and would prosecute him.
Opuiyo assured Nigerians that the Service would collaborate with appropriate agencies to check mischievous activities of groups or individuals.
He said that the Service would also support such agencies to bring to book individuals or companies involved in any criminal act that undermined the nation’s economy.