The Managing
Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, yesterday, claimed that he
was being witch-hunted over an allegation that he stole fuel worth N11 billion
from the Nigerian National Petroleum Corporation (NNPC).
Testifying
before the House of Representatives Committee on Petroleum (Downstream), he
stated that he was made to suffer detention and dwindling economic fortunes
because operatives of the state had “certain personalities” in mind when they
closed in on him.
The
billionaire business mogul, however, declined naming the targeted people even
when prodded by the Akinlaja Joseph-led committee during the hearing that had
in attendance major stakeholders in the oil and gas industry.
Ubah claimed
that the “unwarranted and unjustifiable” action cost him huge revenue with no
fewer than 2000 of his employees losing their jobs due to the closure of his
company.
Expressing
disappointment with the NNPC for not exploring available dispute resolution
mechanisms prior to his arrest, he reiterated his innocence before the
lawmakers.
He told the
investigative panel that the corporation was owing him N16 billion.
The Executive
Director, I.B. Dansure, who stood in for the NNPC-Retail outfit, justified the
invitation of the Department of State Services (DSS).
According to
him, the move became necessary when the establishment started noticing a
shortfall in product record.
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