The Police Special Fraud Unit has arrested one, Mr Ifeanyi Uba, the Managing Director of Capital Oil & Gas Industries Ltd over the involvement of his firm in a N22.4 Billion subsidy fraud.
Uba who is rumored to be nursing the ambition to take over from Mr. peter Obi as the next Governor of Anambra State was arrested at exactly 2.00pm tuesday.
He was accompanied by his lawyers for an interogation.
Findings revealed that Uba made a whooping N22.4 Billion from the subsidy scam.
Capital Oil is one of the firms which received dodgy payments running into billions of naira from the Petroleum Products Pricing and Regulatory Agency (PPPRA) on kerosene, petrol and diesel subsidy.
Investigations reveal that Uba, is one of the most notorious subsidy scammers, has several collaborators. The EFCC has already been mandated to investigate all the subsidy beneficiaries, which include Oando, Integrated Oil and Gas, MRS, AA Rano. A-Z Petroleum, ASB, Arcon Oil, African Petroleum, Aminu resources, Con Oil, Avante Guard, Avido, Boffas and Brila Energy.
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