Why Ifeanyi Ubah Capital Oil CEO was arrested

The Department of State Security has confirmed the arrest of Mr. Ifeanyi Ubah, the Chief Executive Officer of Capital Oil and Gas Plc.

In a statement issued by the DSS spokesperson, Tony Opuiyo, the agency alleged that Ifeanyi Ubah committed economic sabotage of national dimension.

“So far, it has been established that the products stolen amount to over N11billion. There is no doubt that Ubah’s acts have the capacity to negatively impact on national economy. ”

“This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in his favor 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,” said the DSS.