EFCC Arrests Ubah over Subsidy Fraud

Chiemelie Ezeobi 

There seems to be no end to the ordeal the Chairman of Capital Oil and Gas Industries Limited, Mr. Ifeanyi Ubah, as he was, once again arrested by the Economic and Financial Crimes Commission (EFCC).

Ubah was arrested in his Maitama, Abuja residence by a team of EFCC operatives, for failing to respond to earlier summons by the commission concerning his involvement in the billions  of naira fuel subsidy fraud.

However, sources said the arrest might also not be unconnected with the petition by the Chairman of Coscharis, Cosmas Maduka, over a business deal between the duo.

It  was gathered that Maduka had also petitioned the EFCC over the said fraud.
THISDAY gathered that operatives of the agency were detailed to track him down when repeated invitations were shunned by Ubah.

The anti-graft agency was allegedly invited to explain his connection in the multi-million dollar oil business deal he had with the Coscharis boss, which the latter has maintained that he was defrauded.

His arrest is coming at the heels of the recent petition by the Debt Management Office (DMO) to the Special Fraud Unit (SFU) to reopen the fraud case based on some discrepancies in the figures quoted in the report of the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Claims.

Although police sources had said the SFU might be compelled to re-invite him for questioning based on the strength of the petition from the DMO.
It was not certain if he was released last night.

However, sources close to Ubah told THISDAY that his recent travails might not be unconnected with his purported ambition to contest the governorship poll in his native Anambra State.

The source told THISDAY that all the arrests and re-arrests would not have ever happened if Ubah hadn't made known his intention to contest in the forthcoming election.

Source: This Day