The Group Managing Director of Capital Oil and Gas Limited, Mr. Ifeanyi Ubah, has said that he reports at the headquarters of the Department of State Services in Abuja, daily and that he is not being detained.
Ubah, who spoke in a telephone interview with our correspondent in Abuja on Sunday, said that the DSS was mediating in a financial dispute he has with the Nigeria National Petroleum Corporation.
He told our correspondent that he was on his way to the DSS office where there would be a reconciliation meeting between him and the officials of the NNPC.
He said he was grateful to the DSS for intervening in the matter, adding that he would make a public statement to thank the security outfit on Monday
“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,” he said.
Ubah is being interrogated over the claim by the NNPC that it had N11bn worth of Premium Motor Spirit stored in facilities of his company.
The NNPC had written both the DSS and the Economic and Financial Crime Commission, asking them to help it to recover the said amount.
It said it stored the PMS with the amount in the facilities of Capital Oil and Gas Limited.
It alleged that the product was stored in the facility under a special arrangement, which it claimed was breached by the businessman.
The corporation claimed that Ubah sold the product without its permission.
It will be called that the corporation had stated in a statement by its Group General Manager, Public Affairs Division, Mr. Ndu Ughamadu, in Abuja some days ago, that the politician’s company failed to remit the money from the agreement.
Ughamadu, in the said statement, had explained that the corporation’s Chief Operating Officer, Downstream, Mr. Henry Ikem-Obih, gave details of how the alleged infraction was discovered by it earlier in the year.
Ikem-Obih, according to the statement had said, “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.”
