DSS Arrests Ifeanyi Ubah Over N11b Oil Theft .

Managing Director of Capital Oil and Gas Limited, Ifeanyi Ubah has been arrested by the Department of State Services.

His arrested, was apparently, revealed today in a statement by spokesman, Tony Opuiyo.

Opuiyo aid Ubah was arrested on Friday in connection the theft of petrol kept in his tank farm in Lagos by the Nigerian National Petroleum Corporation. The product was valued at over N11 billion.

The agency said Ubah’s action amounted to economic sabotage, with “capacity to negatively impact on national economy”.

Opuiyo gave additional reasons for Ubah’s arrest. He said he has further engaged in other activities inimical to national security and public order.

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