DSS arrests Ubah again for economic sabotage


Operatives of The Department of State Services (DSS) on Friday arrested the Managing Director of Capital Oil and Gas Limited, Mr. Ifeanyi Ubah, for alleged economic sabotage and unwholesome business transaction that threaten national security.

Recall that Ubah was said to be picked and quizzed by the DSS, which the Secret service did not refute nor confirm last month, the service said he was arrested in connection with a deal in the range of over N11 billion.

A statement confirming the arrest, issued by the service signed by Tony Opiuyo said the business mogul was arrested on “in line with the statutory mandate… to investigate economic crimes of national security dimension”.

The statement said Ubah has engaged in unpatriotic acts including stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria National Petroleum Corporation (NNPC), noting that the stolen product amounts to over N11 billion.

“There is no doubt that Ubah’s acts have the capacity to negatively impact on national economy. It is instructive to note that Ubah has further engaged in other activities inimical to national security and public order. In 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. “

“This 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 implication 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.”

While assuring Nigerians of the service commitment to collaborate with other security agencies to weed the country of criminal elements who may sabotage the effective distribution of petroleum products in the country, no matter their societal standing, Opuiyo in his statement said the service “will also support such agencies to bring to book individuals or companies involved in any criminal act that undermines the nation’s economy”.


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