News
BREAKING NEWS: DSS Arrests Nigerian Billionaire, Ifeanyi Ubah Over N11b Oil Theft
Oil mogul and billionaire, Ifeanyi Ubah has been arrested by men of the Department of State Security Services over N11bn oil theft.
Ifeanyi Ubah, the managing director of Capital Oil and Gas Limited has been arrested by the Department of State Services.
The agency revealed the arrest today in a statement by spokesman, Tony Opuiyo.
Opuiyo said Ubah was arrested on Friday in connection the theft of petrol kept in his tank farm in Lagos by the Nigerian National Petroleum Corporation. The product was valued at over N11 billion.
The agency said Ubahâs action amounted to economic sabotage, with âcapacity to negatively impact on national economyâ.
Opuiyo gave additional reasons for Ubahâs arrest. He said he has further engaged in other activities inimical to national security and public order.
âIn 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.
âThis 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.
â 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 nationâs economyâ.
Follow us on social media:
Policeman allegedly k!lls driver over N100 bribe at Anambra checkpoint
President Tinubu orders immediate release of minors arrested for participating in End Bad governance protest
Moment lightning strikes Peruvian footballer d3ad during march and injures five others (video)
âHow I Killed 76 Women For Ritual, Got Details Of One Of My Victims From Bank” â Ibadan Man Confesses
Bike man chooses lady over âŠ10k, vows to send his wife away (Video)
âChurch has to be dismantled in Nigeria, I go to church and believe in God but we canât have it that people stays in church Monday to Friday, morning till night” â Peter Obi Lament
EndBadGovernance protest: âMinors fainting in court was a deliberate script to draw negative reaction” â Police says
Anambra woman loses her three sons to cult-related attacks
-
Celebrity Gossip & Gist1 day agoâI donât like the old me at allâ â DJ Cuppy hints at quitting her Job
-
News1 day agoMan Buries In-Law With Casket Worth Over 130 Million Naira In Anambra
-
Crime10 hours agoâHow I Killed 76 Women For Ritual, Got Details Of One Of My Victims From Bank” â Ibadan Man Confesses
-
News1 day agoâN18bn will be paid as compensation for Lagos-Calabar coastal road project” â Umahi