NNPC N11bn debt: DSS quizzes Ifeanyi Ubah

by Azeez Adeniyi

The Department of State Services (DSS) on Thursday quizzed the Group Managing Director of Capital Oil and Gas Limited, Ifeanyi Ubah, over an allegation by the Nigerian National Petroleum Corporation that its N11bn worth of Premium Motor Spirit stored in Ubah’s firm’s facility was missing.

The NNPC had written the DSS and the Economic and Financial Crimes Commission, stating that it stored the PMS in the facilities of Capital Oil and Gas Limited under a special arrangement.

It alleged that Ubah sold the product with permission.


It was learnt that Ubah was questioned at the headquarters of the DSS in Asokoro, Abuja.

It was gathered that Ubah was first invited on Monday over the allegations raised by the NNPC.

The source added, “We invited him based on the petition by the NNPC on the issue of selling of fuel and all that.

“He was with us on Monday and was also here today (Thursday) and we have been able to get to some level on the issue, but we are continuing with our investigations.

“When he came on Monday, we discussed what happened and he said there were documents to back up his own claim, because he told us that the corporation is also owing him.

“We therefore asked him to return on Thursday with the documents to back up his claim, which he did.

“We are continuing with our investigations, but we have asked all parties to go home because it was not only Ubah that was questioned or was here.”

The businessman has also confirmed the invitation by the DSS.

He disclosed that it was in respect to debts owed the NNPC and a legal issue with the Asset Management Corporation of Nigeria.

He added that he had written the Senate and the EFCC about the matter before he was invited by the DSS.

He said, “We want to salvage the situation and save the jobs of over 2,000 people. I am currently reconciling my account with all the parties concerned. I’m owing the NNPC and the NNPC is also owing me. My over three years old case with AMCON is also being looked into.”

His Chief of Staff, Chiedozie Udogu said his principal was not detained as widely reported.

“Yes, it was true that he was at the DSS office, but he was not detained. He went there for the reconciliation of account with the NNPC.

“The DSS is mediating in the trade dispute with the two parties. Therefore, it is nothing to be worried about,” he stated.

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