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Wednesday , 21 March 2018

Ifeanyi Ubah Denies DSS Arrest

The Chief Executive Officer of Capital Oil Nigeria Limited, Mr. Ifeanyi Ubah, has denied reports in the media of his arrest by the Department of State Services (DSS).

It was reported that Ubah had been arrested by the DSS over some scam relating to oil deals with the Nigerian National Petroleum Corporation  (NNPC).

 But, an aide to Ubah who spoke on condition of anonymity said: “There was no iota of truth in the report that Ubah has been arrested by the DSS.”

He added that at no time was Ubah arrested or invited by the DSS for questioning over deals with NNPC.

Efforts to reach the DSS to confirm the story proved abortive as official of the agency refused to speak on the issue.


The businessman had been previously implicated in a fraud saga with the Nigerian National Petroleum Corporation, NNPC. Ubah’s company, Capital Oil was accused of expropriating 82 million liters of premium spirit (PMS) also called petrol stored in its depot.

The NNPC had on 17th March said that it would take full measures to recover about N11 billion worth of Premium Motor Spirit (PMS) which it stored in the facilities of Capital Oil and Gas Ltd in Lagos.


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