The Department of State Services has accused businessman and Chief Executive Officer of Capital Oil and Gas Limited, Ifeanyi Ubah, of diverting about 80 million litres of Premium Motor Spirit (commonly called petrol), kept in his custody by the Nigerian National Petroleum Corporation.
The agency stated that Ubah shunned NNPC’s repeated demands for the product estimated to be worth N11bn in order to cause artificial scarcity of the product.
It stated that Ubah’s action could plunge the countryinto widespread scarcity of PMS and economic chaos.
According to the agency, the act amounted to economic sabotage punishable by death.
These were stated in a counter-affidavit and written submission filed by the DSS 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.
Justice Yusuf Halilu had granted the order to the DSS on May 10, 2017, allowing the agency to keep the suspect in custody for 14 days pending the completion of an ongoing criminal investigation against him.
The DSS’s lawyer, Mr. G. Agbadua, told Justice Halilu on Tuesday that Ubah was plotting to plunge the nation into economic and social crisis by creating artificial scarcity of petroleum product.
-Punch
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