My Trial Over N11 billion Oil Theft a Witch-Hunt as NNPC Owes Me N16bn - Ubah
Fri, Jul 14, 2017 | By publisher
Political Briefs
IFEANYI Ubah, managing director of Capital Oil and Gas, on Thursday, July 13, claimed that the allegation that he stole fuel worth N11 billion from the Nigerian National Petroleum Corporation, NNPC was a witch-hunt.
Testifying before the House of Representatives Committee on Petroleum (Downstream), Ubah said 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 business mogul, however, declined to name 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 alleged the ordeal of the “unwarranted and unjustifiable” action cost him huge revenue loss and that no fewer than 2000 of his employees lost their jobs due to the closure of his company.
He said that he was disappointed with the NNPC for not exploring available dispute resolution mechanisms before his arrest.
The oil magnate reiterated his innocence before the lawmakers and told the investigative panel that the corporation was owing him N16 billion.
Ibrahim Dansure, executive director, 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.
— Jul 24, 2017 @ 01:00 GMT
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