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Police arrest Ifeanyi Uba, Capital Oil chief over fuel subsidy scam

By on October 9, 2012

The Police Special Fraud Unit, Ikoyi has arrested oil magnet, Mr Ifeanyi Uba, the Managing Director of Capital Oil & Gas Industries Ltd over the involvement of his companies in the fuel subsidy scam.

Uba was taken into custody at exactly 2.20pm this afternoon with his team of lawyers and is being currently interrogated.

His company was indicted by Mr Aigboje Aig-Imoukhuede’s led 15-man Presidential Panel constituted by President Goodluck Jonathan to re-investigate the findings of the report of an earlier investigation panel set up by the Ministry of Finance on Fuel Subsidy payments valued at over N2 trillion.



Source: Citizen


  1. Prince Hubert

    October 9, 2012 at 5:26 pm

    Thats a good first step,let this be followed by dilligent prosecution and retrieval of the peoples money,and adequate sanction meted out to him and his ilks. Adoke must desist from his fraudulent plea bargain

    • Okey Ofomata

      October 10, 2012 at 12:24 pm

      I think you not happy with this progressive Nigerian,brother don’t take it personal.They are investigating him,he is not guilty for any crime yet.