The Group Managing Director of Capital Oil and Gas Limited, Ifeanyi Ubah, has spoken out on the reports that he was arrested by
the Department of State Services in Abuja.
While speaking in an exclusive telephone interview with Punch newspaper in Abuja on Sunday, the GMD of Capital Oil and Gas
Limited, Dr. Ifeanyi Ubah, dosclosed that he reports at the headquarters of the Department of State Services (DSS) in Abuja
daily and that he is not being detained.
The Chairman of Ifeanyi Ubah Football Club, in the interview, said that the DSS was mediating in a financial dispute he had with
the Nigerian National Petroleum Corporation (NNPC), adding that there would be a reconciliation meeting between him and the
officials of the NNPC.
He said he was grateful to the DSS for intervening in the matter, adding that he would make a public statement to thank the
security outfit on Monday.
“I go there every day. I’m on my way there now. We have a reconciliation meeting with
them today. I will make a statement tomorrow (today) to thank the DSS for being
able to resolve the issue,” he said.
Recall that we had reported last Thursday that the influential multi-billionaire businessman, was allegedly arrested and
detained by operatives of the Department of State Security (DSS). He is being interrogated
over the claim by the NNPC that it had N11bn worth of Premium Motor Spirit stored in
facilities of his company.
The NNPC had written both the DSS and the Economic and Financial Crimes Commission,
asking them to help it to recover the said amount, adding that it stored the PMS with the amount in the facilities of Capital Oil and
Gas Limited.
It alleged that the product was stored in the facility under a special arrangement, which
it claimed was breached by the
businessman.
NNPC claimed that Ubah sold the product without its permission.
The corporation had stated in a statement by its Group General Manager, Public Affairs Division, Mr. Ndu Ughamadu, in Abuja some
days ago, that the politician’s company failed to remit the money from the agreement.
