Capital Oil and Gas boss, Dr. Ifeanyi Patrick Ubah has denied being arrested by operatives of Department of State Services (DSS).

The founder of Ifeanyi Ubah Football Club said that: “If I am arrested, I would not be talking with you now. They should continue writing, but those who are in doubt should come and watch football match tomorrow because I would be there.”

An aide of the Anambra politician cum businessman added that: “I can tell you that my boss’s good name in the country today cannot be smeared. He is a hardworking businessman. All these propaganda about him is because he has become a big force to be reckoned with in Nigeria.”

For those who don’t know, the Nigerian National Petroleum Corporation (NNPC) had reported his company, Capital Oil and Gas Limited and MRS Limited to Department of State Service (DSS) and the Economic and Financial Crimes Commission (EFCC) over illegal sale of about 130 million litres of Premium Motor Spirit, PMS, valued at N17.439 billion, belonging to it.

Mr. Henry Ikem-Obih, Chief Operating Officer, NNPC Downstream made this disclosure: “We instructed the Nigerian Products Marketing Company (NPMC) a subsidiary of NNPC, to send additional trucks to those locations to move products for distribution aimed at meeting a supply shortfall we discovered in the market, but after days of not being able to access the terminals we had to take a decision as NNPC Management to invite auditors and inspectors to go and do a physical check on the inventories. The visit revealed that there was no molecule of product for the NNPC to evacuate.”

“The infraction by the two downstream companies was a clear violation of existing throughput contract which prohibits the owners of the facilities from tempering with the volumes in their custody without express permission of the Corporation Armed with this information we promptly called them in to explain to us what happened to our product in their custody. After the meeting with them, we issued them with letters and told them in clear terms to do either of two things: return to us the full volume of what has been stored in their depots litre- for- litre or pay the full value of the products they took without our approval.”