Breaking: DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN

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Breaking:  DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN

Breaking: DSS arrests Ifeanyi Ubah

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As a matter of fact Ifeanyi Ubah finally arrested by DSS for diverting w illegally read more – Breaking:  DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN -The Department of State Services (DSS) on Saturday said it has arrested Managing Director of Capital Oil and Gas Limited, Ifeanyi Ubah Read more;
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Furthermore DSS spokesperson, Tony Opuiyo, Ubah was arrested on Friday for alleged stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria National Petroleum Corporation (NNPC).The statement noted that the products stolen amount to over Eleven Billion Naira (N11bn).

Opuiyo also said Ubah incited the Petroleum Tanker Drivers to stop lifting the product.

Breaking: DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN

Breaking: DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN

INVOLVED IN OIL THEFT

“Presently In line with the statutory mandate of the Department of State Services (DSS) to investigate economic crimes of national security dimension, the Service, on 5th May, 2017, arrested Ifeanyi UBAH, Managing Director of Capital Oil and Gas Limited.

“Furthermore 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 National Petroleum Corporation (NNPC). So far, it has been established that the products stolen amount to over Eleven Billion Naira (N11bn).

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Breaking: DSS arrests Ifeanyi Ubah for alleged oil theft over 11BN

“As a matter of fact 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 (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.

“Above all The implications of this on law and order is, in fact, a common knowledge. Furthermore It is consequent upon this that the Service arrested and will prosecute him forthwith.”

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