Encomium
Capital Oil and Gas’ Ifeanyi Ubah – just released on Monday, June 19, 2017, after a 44-day detention by the Department of State Security – is becoming a frequent detainee. In the last five years, he has been in detention four times.
Why is the billionaire mogul from Otolo (Anambra state) a regular guest of security agencies?
Here are the four times the 45 year old tycoon has been kept away as compiled by encomium.ng:
1. For ten days in 2012 (October 9 – 19), he was detained by the Special Fraud Unit of the Police in Ikoyi (Lagos) following allegations of subsidy scam. His company was accused of stealing N43.291 billion, and with five of his staffers, cooled off in a cell until he was granted bail.
2. On April 30, 2013, he was a guest of the Economic and Financial Crimes Commission on the same subject of subsidy scam.
3. On March 24, 2017, he was detained by the Department of State Security for 21 days for allegedly stealing N11.1 billion products of Nigerian National Petroleum Corporation kept in his custody.
4. And on May 5, 2107, for 44 days, his freedom was snatched by the DSS on the same NNPC stolen products accusations until Monday, June 19.
Always pleading innocence, he has not once been implicated or brought to trial by the security agencies in spite of the humongous allegations of stealing, economic sabotage and threat to national security!
