The Department of State Services has accused businessman and Chief Executive Officer of Capital Oil and Gas Ltd, Ifeanyi Ubah, of diverting about 80 million litres of Premium Motor Spirit (commonly called petrol), kept in his custody by the Nigerian National Petroleum Corporation.
The agency stated that Ubah shunned NNPC’s repeated demand for the product said to worth N11bn in order to cause an artificial scarcity of the product.
It stated that Ubah’s action could plunge the country into widespread scarcity of PMS and economic chaos.
According to the agency the act amounted to economic sabotage punishable by death.
These were stated in a counter-affidavit and written submissions filed by the DSS in opposition to an application by Ubah, asking a High Court of the Federal Capital Territory in Jabi, Abuja to set aside an order for his detention for 14 days.