- The group general managing director of Capital Oil Ifeanyi Ubah has said he reports to the headquarters of the Department of State Service (DSS) daily
- Ubah said he is not be investigated but reporting for a mediation meeting between his company and the Nigerian National Petroleum Corporation
- He also commended the DSS for their efforts in the mediation process between Capital Oil and NNPC
Ubah said the DSS was only mediating in a financial dispute he has with the Nigeria National Petroleum Corporation (NNPC)
Following reports of his arrest by operatives of the Department of State Services (DSS) the group managing director of Capital Oil Ifeanyi Ubah denied being arrested or involved in a corruption scandal.
In a recent telephone interview with Punch, Ubah said he reports at the DSS headquarters in Abuja daily.
Ubah who said the DSS was only mediating in a financial dispute he has with the Nigeria National Petroleum Corporation (NNPC) also said he was not being detained by the secret police.
NAIJ.com gathered that there is currently a reconciliation meeting Ubah and officials of the NNPC at the DSS office in Abuja.
Ubah was commended the DSS for their mediation in the matter.
“I go there every day. I’m on my way there now. We have reconciliation meeting with them today. I will make a statement tomorrow to thank the DSS for being able to resolve the issue,” Ubah said.
NAIJ.com also gathered that the Capital Oil boss is being interrogated in relation with a claim by the NNPC that the company had N11 billion worth of Premium Motor Spirit stored in its facilities.
NNPC in a letter had asked the DSS and the Economic Financial Crimes Commission (EFCC) to facilitate in the recovery of the product.
The product, the corporation said was stored in a manner that breached it regulation.
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NNPC's chief operating officer downstream, Henry Ikem-Obih had in statement released by its group Ndu Ughamadu said the infraction was discovered by the corporation earlier this year.
“We instructed the Nigerian Products Marketing Company a subsidiary of NNPC, to send additional trucks to those locations to move products for distribution aimed at meeting a supply shortfall we discovered in the market, but after days of not being able to access the terminals, we had to take a decision as NNPC management to invite auditors and inspectors to go and do a physical check on the inventories," Ughamadu said.
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