The oil mogul was released yesterday night unconditionally by the Department of State Services after a “No Case” was established, following a tedious investigation by the DSS in his rift with the NNPC.
The DSS had arrested Dr. Ubah over his alleged connection with a claimed theft of petrol kept in his tank farm in Lagos by the Nigerian National Petroleum Corporation.
The product, it said, was valued at over N11 billion. The agency said Ubah’s action amounted to economic sabotage, with “capacity to negatively impact on national economy.”
But Ubah had denied the allegation, maintaining he had a face-off with the government-owned firm, NNPC over unpaid and overdue debt amounting to over N16billion owed his company, Capital oil & Gas.
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