The Department of State Security Service (DSS), has been ordered by Justice Muhammed Idris of the Federal High Court, Lagos, to produce Ifeayi Ubah, an Anambra billionaire businessman on Friday, May 12.
According to Premium Times, Idris gave the ruling in favour of the ex-parte application filed by Ifeoma Esom, the counsel to the Managing Director of Capital Oil and Gas Limited, to compel the release of Ubah from the DSS’s custody where he had been held in detention since May 6.
It was gathered that upon the arrest of Ifeanyi Ubah, the DSS said he was arrested over “economic sabotage” and diversion of petroleum products to the tune of N11billion.
The agency said that petroleum products, belonging to NNPC Retail, stored in the Capital Oil farm in Lagos under a through-put agreement, went missing under controversial circumstances.
The diversion which eventually led to the sack of the head of NNPC Retail, Esther Nnamdi-Ogbue.
However, Capital Oil’s company secretary claimed that the throughput agreement allows “conversion and diversion of IT products by “operators” so long as the operator is prepared to re-deliver the products within 7 days of demand by the products owner or to pay a penalty for non-re-delivery”.
This is a developing story, we'll be bringing you more details later...
source:tori news
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