Ifeanyi Ubah committed economic sabotage, NNPC says

The Chairman of Capital Oil and Gas Limited, Ifeanyi Ubah, is in the custody of the State Security Service because he committed economic sabotage by diverting petroleum products stored in his tank farm, the Nigerian National Petroleum Corporation, NNPC, has said.

Kabiru Turaki, counsel to the NNPC, told a Lagos Division of the Federal High Court on Thursday that security agencies have inherent power under the constitution to investigate economic crimes, including diversion of petroleum products.

The secret police arrested Mr. Ubah on May 6, and he has been in detention ever since.

Premium Times reported how Capital Oil diverted tens of millions of petrol stored in its tank farm by the NNPC, a development that led to the sack of the former head of NNPC Retail.

-Premium Times