The Managing Director of Capital Oil and Gas Limited, Dr. Ifeanyi Ubah, has been released from detention by the Department of State Services after several weeks.Sources said the oil mogul was
released Monday night unconditionally by the DSS after a “No Case” was established, following a tedious investigation by the DSS in his rift with the Nigerian National Petroleum Corporation.The DSS had arrested Ubah over his alleged connection with theft of premium motor spirit (petrol) kept in his tank farm in Lagos by the NNPC.The product, it said, was valued at over N11bn. The agency said Ubah’s action amounted to economic sabotage, with “capacity to negatively impact on national economy.”A statement by DSS spokesman, Tony Opuiyo, had added that Ubah was also arrested because he allegedly engaged in other activities inimical to national security and public order.
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