The Special Fraud Unit (SFU) arrested six managers of Capital Oil and Gas for their alleged involvement in the fuel subsidy fraud in addition to Mr. Ifeanyi Uba who was earlier picked up by the unit.
Uba is expected to remain in custody pending the conclusion of the investigation and interrogation over his role.
The five managers arrested with Uba include, Executive Directors, Operations and Special Duties, Mr. Joseph Orji and Mr. Afam Azubuike respectively. Others are, General Manager Operations, Mr. Chibuzor Ogbuokiri; Depot Manager, Mr. Godfrey Okorie and Head, Training Unit, Mr. Nsikan Usoro.
Capital Oil and Gas was indicted by the Aigboje Aig-Imoukhuede led Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments. According to the panel, out of the sum of N62,501,511,789.24 obtained fraudulently through the fuel subsidy structure, Uba’s company alone was allegedly involved to the tune of N22.4 billion.