SSS arrests Capital Oil boss, Ifeanyi Ubah, over N11 billion petrol ‘theft’

Ifeanyi Ubah
Ifeanyi Ubah

The State Security Service, SSS, has arrested the managing director of Capital Oil and Gas Limited, Ifeanyi Ubah, on allegation of “economic sabotage”.

The SSS says Mr. Ubah was detained on Friday in connection to missing petroleum products.

“The arrest was sequel to UBAH’s engagement in acts of economic sabotage which include stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria National Petroleum Corporation (NNPC),” the SSS said in a statement Saturday.

“So far, it has been established that the products stolen amount to over Eleven Billion Naira (N11bn). There is no doubt that UBAH’s acts have the capacity to negatively impact on national economy.”

The fuel products, belonging to NNPC Retail, which was stored in the Capital Oil’s storage facilities in Lagos under a throughput arrangement, went missing under controversial circumstances.

In March, the Capital Oil and Gas boss reportedly visited the SSS office in Abuja, where he was held for days.

The Group Managing Director of the NNPC, Maikanti Baru, had said the corporation was committed to using all measures to fully recover the full value of the missing products.

Last month, four top NNPC officials were retired over the scandal.

Although Capital Oil disputes the figure given by the NNPC, the company has not come up with what the correct figure should be. The company says it has called for a reconciliation of debts owed the NNPC for products supplied since 2015.

In its statement, signed by Tony Opuiyo, the SSS said Mr. Ubah had further engaged “in other activities inimical to national security and public order”.

“In furtherance of his gimmicks to undermine the government and people of Nigeria, he has incited members of the Petroleum Tanker Drivers (PTD), a critical player in the downstream sub-sector of the Petroleum Industry, to refuse/stop the lifting of products,” the statement said.

“This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in his favour with the ulterior motive of arm-twisting the NNPC to abandon the cause of recovering the stolen products. The implications of this on law and order is, in fact, a common knowledge. It is consequent upon this that the Service arrested and will prosecute him forthwith.”


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  • Peter_Edo

    Don’t Trust Uba, Don’t trust SSS/DSS… guess i will be sipping something watching this drama unfold…

  • The Law Office

    Dear Editor,

    Please allow me space to praise the SSS for arresting Ifeanyi Ubah who’s been carrying on as if
    he’s above the law of Nigeria. Once his suspected collaborators at NNPC were sacked three weeks ago,
    it follows that Ifeanyi Ubah too must face deserving punishment for what looks like daring theft of assets
    belonging to the federal government of Nigeria. Call it throughput, if you like, but it was a simple bailment.
    The NNPC oil was legally put in Ifeanyi Ubah’s care for storage under bailment. There was no further term.
    The conversion of bailed goods is theft under criminal law and should be prosecuted as such immediately.

    • J.Jaycee

      @187665873247990:disqus :

      Northern Nigeria is a bane and a burden. Anyone who thinks otherwise is not wise.
      All of what’s wrong with the federal republic of Nigeria is northern Nigeria -simple!
      The Hausa/Fulani/Kanuri axis of the North is too shackled to feudalism to progress.
      They indoctrinate the young to steal, to loot and to kill – in effect, to be terrorists.
      They use Koranic verses wrongly and without sense of the 21st century realities.

      They still want to kill Christians and Jews as in 5th century and pillage for slaves.
      They covet the natural and intellectual resources of the states in southern Nigeria.
      They use every means (including lies and terror) to steal the crude oil of the south.
      Unless these benighted savages of northern Nigeria are reconstituted as a country,
      Nigeria as presently formed can never progress with the millions of northern dunces.

      • marcos avelino

        U are worst than a donkey – rubbish filthy hateful small mind

  • AFRICANER

    The only people free from Buhari and his SSS Muslim invading thugs, are the Niger Delta militants.

    The SSS or whatever you call them, are a strong arm terrorist Fulani invaders used to destroy southerners and their businesses.

    The north does not produce a single pencil, or oil.

    • Julius

      Yeah, that’s why Ubah stole what didn’t belong to him.

      • AFRICANER

        Everybody is innocent until proven guilty.
        If you accuse somebody of a crime, take him to court, grant him reasonable bail, convict him first before you do any harm to him or his property.

        • Malik

          Story. He has not denied taking the oil, his defence was that NNPC owes him money, so he ‘took’ the oil as payment without the creditor’s (NNPC) say so.

        • Julius

          True, so that gives you the right to ridicule and insult other people or tribes because one of your own is alleged to have stolen what belongs to the entire country. Right ?

          • AFRICANER

            Do you really want to belong to a country where WAEC/WASC doesn’t mean anything anymore to be president, and now, Senate Confirmation is useless? Just to accommodate your people, you turn our laws and rules topsy-turvy? You people are terrible terrorists!

          • Julius

            My people ? Kindly tell me who are my people . I will still want Ubah get what he deserve even if he is ‘my people’. I really don’t know any terrorist from my people. If you know, tell me.

    • Hans Oreva

      Is that why he stole oil that was derived from the Niger delta? And the property of Nigeria at large?

      • AFRICANER

        He is innocent until proven guilty.
        If you accuse somebody of a crime, take him to court, grant him reasonable bail, convict him first before you do any harm to him or his property. Why concentrate all your effort on harm, and punishment during pretrial?

  • Julius

    Na lie,Igbo man no dey steal !. I’m expecting him to tell us he is not a Nigerian…him be biafraudian and the SSS is after him because he wants separation. No be so ?

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  • Dr Pat Kolawole Awosan

    It is quite very sad that Ifeanyi Uba, the Capital oil boss could descend so low to sourcing wealth by getting involved in stealing oil that belongs to Nigeria-nation, in order to grow his own personal wealth while millions of average Nigerians continue to suffer endemic poverty.When you see them swimming in wealth,watch out they are mostly looters,thieves and embezzlers of public funds and asset.Shameless maggot who must rot in jail.

    • Allibaba

      Nothing to add. Totally agree with you!

    • wode

      He’s not really descending low. He actually operates at the pit of corruption. How many of these so-called wealthy people can one trust their sources of wealth?

      • Ceejay Iloelunachi

        Dont mind them…most commentators chose the sentimental route. Trust the motives & involvement of the DSS at your own peril. Lets see how the drama unfolds in the coming days.

        • ozimba

          So what should the nation do? Seat and watch and let every crime go because here are motives by the government. Pls from these kind of arrest most corrections are made, now its on record Ubah stole from the nation.

  • Jacobus James

    I just hope that Ohanaeze Ndi Igbo will stay put and let the process play out …and not jump into the fray to scream that ‘our son’ is being railroaded. Just as that organization is doing with the allegation against EFCC by ‘our son’ the senate deputy president.

    • Allibaba

      Very insightful and constructive. Nigeria is the only place I know where even a so called leader would openly embrace a common thief and make a hero out of him just cause they are from his tribe.

  • CEO

    It will be interesting to see how this plays out. Obasanjo may be paying Buhari on his sick bed a visit soon, under one guise or the other. The Ubahs are his front men. Andy Ubah was his Special assistant, who never got prosecuted by the Nuhu Ribadu EFCC, despite mounting evidence of corruption and money laundering against him, including large sums of money confiscated from Andy Ubah by the US
    Customs, on his trips to the US.
    This is deeper than what it appears to be on the surface. We’ll see how it unfurls.

    • Shetty

      Ifeanyi Uba is no relation of the Uba’s i.e. Andy and Chris Uba and they don’t have any business relationship while they are from Uga of Aguata local government in Anambra state while ifeanyi is from Umuanuka village in Otolo town of Nnewi, the highly industrialised and commercialized city of Anambra State. And by the way this UBA has been getting away with a lot of atrocities and criminality against both government and other businessmen such Mr Maduka the owner of Coscharis motors , but this time Nemesis has caught up with him .

    • NwaIgbo

      No matter how you look at it, OBJ’s hands, feet and body envelop this travesty of iniquity.

    • Onye Obosi

      Wrong analysis.
      You should not mix up the Ubahs. Andy is a different Ubah from Ifeanyi.
      Stop conjuring a hypothesis that has not correlation.

  • Tommy Soto

    Kudos to the SSS. The people of the Fed. Republic welcome your crime fighting efforts and success. Please continue and share the historic accolades of the present day EFCC!

    One day you will be about to tell your grandchildren that you helped smash grand scale looting and corruption in the nation.

    • NwaIgbo

      AMEN brother!

      • Frank Bassey

        Yes-o! At least against the opposition and critics. Uba should quickly defect to APC. The matter is settled.

  • UK BOY

    Yoruba media, why why. I’m sick to my bones of this tribal ladder journalism. You fellow south Western petroleum importers, such as femi otedola, obat petroleum etc, all indulge in the same fuel shenanigans, why caption your write up that he’s a thief, when he has not been convicted By a competent court. If our judicial system isn’t stymied with advanced bottlenecks, you’d be cautious with your labelling, not to exposed yourselves to libel suits, that’s capable of winding your in the event that your found guilty of such mis representations.

  • Adam A

    Another APC member in d Web. Where is d one sided corruption fight

  • NwaIgbo

    95% Oil Marketers regardless of their religion or ethnicity are mind boggling criminals and should be made to return all stolen loot and then be shot. Our regular court process takes too long, a special criminal ad-hoc court should be set up to try and prosecute these demons in six weeks and not longer.These criminals have stolen enough money to drag their cases ad infinitum.

  • Onye Obosi

    The biggest scene in this drama will be the settlement of the DSS by Ifeanyi Ubah.
    Ifeanyi Ubah is a smart crook, this case is nothing compared to what he has dealt with.
    It will only deplete his monetary worth to some measures, and that is it.
    DSS oga, and the investigative team will be adequately taken care of, and he will move on to his next scheme.

    Ubah’s policy is, steal $100m from the government, and settle with $50m, that way you become $50m richer, and have made stronger, and better connection. Ubah has never been afraid of the law enforcement agency. He will tell you, “they will not kill me.” The only thing they want is their own share.

    • Iskacountryman

      he is a money magician indeed…

  • Another interesting story unfolding.

  • Frank Bassey

    Ifeanyi Uba should, without delay, declare for and defect to the ruling All Progressive Congress (APC). That will settle all these wahala

    • Iskacountryman

      he is a money magician…