NNPC Says Ifeanyi Ubah Held For Economic Sabotage

 NNPC Says Ifeanyi Ubah Held For Economic Sabotage

Chief Executive Officer of Capital Oil and Gas Limited, Ifeanyi Ubah, is in the custody of  the Department of State Services (DSS) because he diverted petroleum products kept in his custody.

The Nigerian National Petroleum Corporation (NNPC) made the accusation on Thursday at the Federal High Court, Lagos.

Counsel to NNPC, K. T. Turaki (SAN), therefore, urged the court to strike out the motion on notice filed by Ubah seeking orders for his release from the custody of DSS.

Turaki argued that the corporation has been subjected to various investigations, particularly the issue of fuel diversion in the past two years. He added that NNPC has a duty to inform the investigating agencies where fuel products  were kept.

He also told the court that security agencies have inherent power under the constitution to investigate economic crime, of which diversion of petroleum product is part.

Similarly, the DSS counsel, Peter Okerinmade urged the court to dismiss the plaintiff’s application on the ground that it lacks jurisdiction to entertain the suit.

But Ubah’s counsel, Isioma Esom, told the court to discountenance all the objections raised by the respondents.

She said the NNPC is currently owing Capital Oil and Gas Limited N10 billion and $8 million and her client did not report to any security agency.

Esom informed the court that Ubah was arrested on two occasions in Lagos and kept at the Shangisha custody of DSS before being transferred to Abuja and urged the court to order the DSS to release Ubah unconditionally, or in alternative, to admit him to bail, pending the conclusion of the matter.

After listening to the submissions of all parties, the trial judge, Mohammed Idris, adjourned to May 25, 2017, for ruling. 

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