- The managing director of Capital Oil and Gas Limited Dr Ifeanyi Ubah regains freedom after spending almost a month in DSS detention
- The personal assistant to the oil magnate discloses that Ubah was released on Monday night, June 19
- Ifeanyi Ubah was reportedly released unconditionally by the DSS
The Department of State Services (DSS) has released the managing director of Capital Oil and Gas Limited Dr. Ifeanyi Ubah from its detention.
The oil magnate was released on Monday night, June 19, unconditionally by the security service after spending almost a month in detention following a rift he had with the Nigerian National Petroleum Corporation (NNPC).
"Yes, he was released last night," Ikechukwu Onyia, Ubah's personal assistant told NAIJ.com on Tuesday, June 20.
NAIJ.com recalls that Ubah was detained for allegedly diverting about 80 million liters of Premium Motor Spirit (PMS) also known as petrol, kept in his custody by the NNPC
The agency has accused the oil magnate of deliberating hoarding the petroleum products in order to plunge the nation into economic and social crisis by creating artificial scarcity of petroleum product.
It said Ubah shunned NNPC’s repeated demands for the product estimated to be worth N11bn in order to cause artificial scarcity of the product.
But Ubah had maintained that he was innocent, arguing that the NNPC was not sincere with its allegations against him.
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He said he had a face-off with the government-owned firm over unpaid and overdue debt amounting to over N16billion owed his company, Capital oil & Gas.
According to the oil magnate, the NNPC involved the DSS in the issue after he paid himself N11Billion out of the N16billion owed him from products stored on his Apapa tank farm by the NNPC.
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