The Department of State Services (DSS) has alleged that Ifeanyi Ubah, Capital Oil boss, diverted about 80 million litres of petrol.
The
product worth N11 billion was said to have been kept in Ubah's custody
by the Nigerian National Petroleum Corporation (NNPC).
The
agency said the oil mogul failed to respond to NNPC's repeated demand
for the product in order to cause an artificial petrol scarcity, which
could cause a major economic crisis in the country.
The DSS said Ubah's action amounts to economic sabotage punishable by death.
The
agency stated this in a counter-affidavit and written submissions filed
in opposition to an application by Ubah, asking a High Court of the
Federal Capital Territory in Jabi, Abuja to set aside an order for his
detention for 14 days.
On May 10, 2017, Justice Yusuf Halilu
granted an order to the DSS allowing the agency to keep Ubah in custody
for 14 days pending the completion of an ongoing criminal investigation
against him.
The DSS counsel, Mr. G. Agbadua,
told Justice Halilu on Tuesday, May 23, that Ubah was plotting to
plunge the nation into economic and social crisis by creating artificial
scarcity of petroleum product.
The agency's counter-affidavit reads, "The respondent (Ubah) was arrested on reasonable suspicion of his involvement in the commission of crime.
"He converted PMS belonging to the NNPC kept in the custody of his tank farm to his personal use.
"The
respondent refused to return the PMS to NNPC after repeated demands.
The PMS is worth over N11bn. The action of the respondent is affecting
the distribution of petroleum products to the populace.
"The
action of the respondent is sabotage of NNPC’s activities as it relates
to distribution of petroleum products. If not for the urgent steps
taken by the Federal Government, the action of the respondent would have
plunged the country into widespread scarcity with its attendant effect
on the economy. "
Ubah, who has been in the custody of the DSS since April, was to be arraigned at the Abuja court on Tuesday (today).
But the agency again failed to produce the oil boss in court, hence his trial has been stalled.
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