The South-East geopolitical zone was thrown into shock, following the arrest of the Chairman of Capital Oil, Ifeanyi Ubah, by the Department of State Security Services, DSS.
The agency revealed the arrest on Saturday, in a statement by its Spokesman, Tony Opuiyo.
Opuiyo, said Ubah 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.”
Opuiyo, gave additional reasons for Ubah’s arrest. He said he 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. 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.”

Recall, that the NNPC had on March 17, revealed that about 100 million litres stored at the Capital Oil & Gas depot, and over 30 million litres in MRS Limited depot, all in the Apapa area of Lagos, were not found when needed.


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