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Subsidy scam: Ifeanyi Ubah, Capital Oil boss, to be arraigned soon

Ifeanyi-Ubah

As exclusively reported by THE CITIZEN yesterday, the Special Fraud Unit, Milverton Ikoyi, who arrested the Managing Director of Capital Oil & Gas Industries Ltd , Mr Ifeanyi Ubah, over  alleged involvement of his companies in the fuel subsidy scam, will soon charge him to court.

The interrogation of the oil magnate who arrived the Unit  in the company of his lawyers  entered late in the night.

His company was indicted by Mr Aigboje Aig-Imoukhuede-led 15-man presidential panel constituted by President Goodluck Jonathan to re-investigate the findings of the report of an earlier investigation panel set up by the Ministry of Finance on fuel subsidy payments valued at over N2 trillion.

But  the management of Capital Oil and Gas Industries Limited  denied  that its managing director was arrested, stating that Uba voluntarily visited the Unit on a routine verification exercise on subsidy claim and returned to the office.

However, a reliable source in SFU disclosed that the interrogation lasted for hours and debunked the claim by the oil company that their boss voluntarily visited the Unit, adding that the suspect will soon be arraigned in the court.

  • Uzoh from lagos

    WHY IS EFCC ARRAIGNING OTHER SUBSIDY SUSPECTS AND POLICE SPECIAL FRAUD UNIT,ALAGBON ARRAIGNING IFEANYI UBAH? IS THAT THE SPECIAL TREATMENT FOR THE IGBOS IN NIGERIA?
    WE ARE NOT OPPOSED TO CHARGING IFEANYI UBAH OR ANYONE THAT HAS COMMITTED ANY INFRACTION BUT EVERYONE SHOULD BE GIVEN EQUAL TREATMENT.EFCC IS PROSECUTING ALL THE SUBSIDY FRAUDSTERS LET THEM ALSO TAKE OVER MR UBAH’S MATTER OR WE WILL POLITICISE THE MATTER AND NOTHING WILL COME OUT IT.
    THE POLICE HANDS-OFF THE INVESTIGATION OF $620,000 BRIBE CASE BETWEEN OTEDOLA AND LAWAN FAROUK BUT ARE NOW EAGER TO ARREST AND PROSECUTE IFEANYI UBAH BECAUSE HE IS FROM THE EAST AND WANT TO EXTORT MONEY FROM HIM.WHY ARE THEY NOT ARRESTING OTEDOLA WHOSE THREE COMPANIES ARE EQUALLY LISTED IN THE SUBSIDY OR DANGOTE WHOSE MRS IS INVOLVED TOO? THIS IS ABSOLUTE MADNESS TO THINK THAT IGBOS WILL BE TREATHED BADLY IN NIGERIA AND THEY EXPECT PEACE TO REIGN.

  • Emmanuel

    Uzoh, for God’s sake, why do you want to spoil the fun,
    didn’t you read my comments on Ifeanyi’s case yesterday?
    Ifeanyi is fronting for the Minister of Petroleum and so the “INVESTIGATION” has to be done secretly by the Police so as to protect the president’s interest too.
    You just hold your breath, you will not hear anything on the drama after this month, I bet you.

  • http://Yahoo.co.uk Tyarow Lance

    Bravo Emmanuel for being matured, measured, cool-headed and analytically savvy about the dramatic narrative of Mr Ifeanyi Mbah’s alleged oil subsidy fraud. I couldn’t agree with you more that it’s just another Sisyphean chore. It’s a road to nowhere.

    However, same couldn’t be said for Mr Uzoh who has chosen to see the arrest, interrogation and possible trial of Mr Mbah by the SFU as the corrupting influence of tribalism.

    What Mr Uzoh fails to tell us is an exam

  • http://Yahoo.co.uk Tyarow Lance

    Bravo Emmanuel for your maturity and for being measured, cool-headed and analytically savvy about the dramatic narrative of Mr Ifeanyi Mbah’s alleged oil subsidy fraud. I couldn’t agree with you more that it’s just another Sisyphean chore. It’s a mad rush by the government going nowhere fast.

    However, same couldn’t be said for Mr Uzoh’s view on this issue. Mr Uzoh has chosen to see the arrest, interrogation and possible trial of Mr Mbah by the SFU as the corrupting influence of tribalism.

    Mr Uzoh has chosen not to countenance the seemingly plausible proposition that the Nigerian government is using the SFU as a veil for Mr Mbah to achieve its administrative exigency.

    Perhaps one should ask Mr Uzoh to cite one recent example when the Nigerian government has concluded the arrest, interrogation and trial of any of the Nigerian oligarch. It’s not happened in recent time and unlikely to happen soon.

    I therefore suggest that people like Mr Uzoh should rein in their predilection for tribal sentiment on issues of national importance.