DSS arrests Uba over N11b fuel theft, others
The Department of State Security (DSS) has detained Dr Ifeanyi Uba, Publisher of the Authority Newspaper and Chairman, Capital Oil and Gas Limited for the theft of petroleum motor spirit (PMS) worth about N11billion naira belonging to the Nigerian Nation Petroleum Corporation (NNPC) stored in his tank farm.
He was also being accused of engaging in acts inimical to national security and economic sabotage by the security agency.
In a statement signed by the image maker of the DSS, Tony Opuiyo, further alleged that Ubah was inciting members of the Petroleum Tanker Drivers Union to stop lifting petroleum products so as to cripple the economy and cause untold hardship to Nigerians.
According to the statement, “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. “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). There is no doubt that Uba’s acts have the capacity to negatively impact on national economy”.