Chairman of Capital Oil and Gas
Limited, Ifeanyi Ubah, has been released by the Department of State Services
(DSS).
According to dailypost, Ubah regained his freedom today
after about six weeks in custody.
An impeccable source confirmed
the development the news medium Tuesday afternoon.
“Chairman is in Lagos at the moment, we are expecting him in Nnewi (in Anambra State by weekend”
“We don’t have details of his release and conditions attached. There was wild jubilation here when he spoke to one of our bosses this morning”, our source said.
Ubah was arrested and detained
by DSS on May 5, 2017, for alleged engagement in acts of economic sabotage
which include stealing, diversion and illegal sale of petroleum products stored
in his tank farm (in Lagos) by the NNPC.
On May 25, Justice Yusuf Halilu
of the FCT Federal High Court extended the detention on Ubah following
an ex-parte application the DSS filed through its lawyer Mr. G.O.A. Agbadua.
Recall that last week, an Abuja
Division of the Court of Appeal gave the Economic and Financial Crimes
Commission asked DSS to continue its investigation of Ubah, for alleged
complicity in a N43.29bn petroleum subsidy scheme fraud.
EFCC and the police had levelled
again Ubah allegations of obtaining subsidy payments by false pretences,
stealing, money laundering and forgery with respect to the alleged fraudulent
payment of N43.29bn in the transactions conducted in 2011.
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