Reports filtering in indicate that the Department of State Services (DSS), have arrested and detained the MD/CEO of Capital Oil, Dr Ifeanyi Ubah.
So far, no reason has been adduced for the sudden arrest, but the oil magnate is no stranger to law enforcement officers as he’d previously been implicated in a fraud saga with the Nigerian National Petroleum Corporation, NNPC.
The billionaire entrepreneur, who was the chairman of the defunct Transformation Ambassadors of Nigeria (TAN) during the 2015 general elections, was accused of embezzling funds from an illegal sale of crude oil saved in one of his facilities.
While the DSS is yet to give an official position on the arrest, one of his staff working on a project site in his native Anambra State confirmed it, saying the development was quietly discussed by his superiors Thursday morning.
“The news is true. Our bosses wore long faces this morning. They have not said anything to us yet”, the source told PM News.
This is a developing story, we’ll bring more details as they unfold…
