The Special Fraud Unit (SFU) of the Nigeria Police, which is investigating oil marketers involved in the oil subsidy scam, has announced the arrest of the Managing Director/Chief Executive Officer of Capital Oil & Gas Limited, Dr. Patrick Ifeanyi Ubah and five others.
The Special Fraud Unit (SFU) of the Nigeria Police, which is investigating oil marketers involved in the oil subsidy scam, has announced the arrest of the Managing Director/Chief Executive Officer of Capital Oil & Gas Limited, Dr. Patrick Ifeanyi Ubah and five others.
googletag.cmd.push(function() { googletag.display('content1'); });
The others are: Joseph Orji, Executive Director, Operations; Afam Azubike, Executive Director, Special Duties; Chibuzor Ogbuokiri, General Manager, Operations; Godfrey Okorie, Depot Manager; and Nsikan Usoro, Head, Trading.
The six men were arrested yesterday by operatives of the Unit and are undergoing interrogation, the SFU said in a statement today.
It added that the investigation is at the instance of Aig-Imokuede led 15-member Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payment which was constituted by the Ministry of Finance to investigate questionable payments of over N2 trillion. The head of the SFU, Commissioner of Police Tunde Ogunsakin, is a member of the Committee.
Yesterday’s arrest is sequel to the indictment of Capital Oil and Gas by the team of Auditors of the committee.
The statement pointed out that the SFU is currently investigating 26 transactions concerning Capital Oil which the committee found to have been forged. The SFU had sent letters of invitation to various organisations to confirm the payment.
“Investigation revealed that a total subsidy amount of 43.291 billion Naira was due to Capital Oil & Gas Industries Ltd based on 538.74 million litres of fuel imported during 2011 financial year which comprises twenty-six (26) transactions,” the statement said
googletag.cmd.push(function() { googletag.display('comments'); });
googletag.cmd.push(function() { googletag.display('content2'); });