Connect with us


The Department of State Service has arrested oil magnate, Chief Ifeanyi Ubah for alleged oil theft.

The secret police disclosed this in a statement signed by its spokesperson, Mr. Tony Opuiyo, in Abuja on Saturday.

It said that Ubah, who has questioned some weeks ago, was again arrested on Friday over his alleged engagements in acts which the security outfit described as inimical to national security.

Ubah, a managing director of Capital Oil and Gas Limited, was accused of stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria Petroleum Products Corporation, NNPC.

Opuiyo put the cost of the oil at more than N11bn, adding that such acts were impacting negatively on the national economy.

He said that the arrest and the detention of Ubah was sequel to the power giving the DSS to investigate economic crimes of national security dimension.

The statement said, “In line with the statutory mandate of the DSS to investigate economic crimes of national security dimension, the Service, on May 5, 2017, arrested Ifeanyi Ubah, Managing Director of Capital Oil and Gas Limited.

“The arrest was sequel to UBAH’s engagement in acts of economic sabotage which include stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigeria NNPC.

“So far, it has been established that the products stolen amount to over Eleven Billion Naira (N11bn). There is no doubt that UBAH’s acts have the capacity to negatively impact on national economy.”

He added that Ubah had further engaged in other activities which he said were initial to national security and public order.

For example, the oil magnate was accused of inciting members of the Petroleum Tanker Drivers to embark on strike because of his (Ubah’s) investigation by the DSS.

Opuiyo said that this was part of the plans by the detained businessman to curry the favour of the public and force the government from going on with the recovery of the funds in his care.

The statement said, “It is instructive to note that UBAH has further engaged in other activities inimical to national security and public order. In furtherance of his gimmicks to undermine the government and people of Nigeria, he has incited members of the Petroleum Tanker Drivers, a critical player in the downstream sub-sector of the Petroleum Industry, to refuse/stop the lifting of products.

“This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in his favour with the ulterior motive of arm-twisting the NNPC to abandon the cause of recovering the stolen products.

“The implications of this on law and order is, in fact, a common knowledge. It is consequent upon this that the Service arrested and will prosecute him forthwith.”

Opuiyo assures that public that the service would collaborate with appropriate agencies to ensure that mischievous activities of any person or group(s) to engage in illegal activities will not affect the effective distribution of products across the country.

He added that the service would also support such agencies to bring to book individuals or companies involved in any criminal act that undermines the nation’s economy.

BIG STORY

Tribute To My Boss, HM Dele Alake At 68 — By Segun Tomori

Published

on

When I was privileged to be offered an appointment by the Minister of Solid Minerals Development, Dr. Dele Alake in October, last year, I was thrilled to have the opportunity to tap from his immense wealth of experience and depth of knowledge, spanning over four decades in private and public service.

I had been enamoured by Dr. Alake since his name, alongside that of President Bola Tinubu, became a recurring decimal in the struggle for the actualization of the annulled June 12, 1993 Presidential elections.

He had carved a niche for himself as a renowned political strategist, communications and public relations juggernaut that not only gave verve to the pro-democracy struggle but later became one of the leading lights of Asiwaju Tinubu’s transformational leadership as Governor of Lagos.

Dr. Alake’s role in the presidential campaigns that culminated in President Tinubu’s ascendancy is already public knowledge as it will be recalled he fired from all cylinders to defuse the propaganda of the opposition as Media Adviser, superintending over the media and communications directorate of the APC Presidential Campaign Council (PCC).

Having watched him closely as a member of the then Strategic Communications Directorate of the same PCC, I was captivated by his grit, grasp of issues and the impeccable intellect with which he dissected issues and marshalled our campaign’s arguments.

Asides from giving me a free hand to excel in my role, he has been a mentor that has helped to hone my skills. Under his tutelage, I have grown to become a better communications professional in barely one year.

Today, Alake’s vision has given rise to a 2,570-strong mining marshals leading the charge to secure the mining environment; revised guidelines for Community Development Agreements (CDA); revocation of dormant mining licenses and those that defaulted in payment of annual service fees; the launch of the innovative online platform, the Decision Support System (DSS) that aids investors’ access to information about Nigeria’s mining sector, enabling them with a click of a button to make informed decisions about investing in Nigeria’s mining sector.

Efforts have reached an advanced stage to establish the largely private sector driven Nigeria Mining Corporation alongside the amendment of the 2007 Nigeria Minerals And Mining Act (NMMA) in collaboration with the National Assembly to back reforms with requisite statutes.

We have also seen novel engagement with sub-nationals that has led to reduction of conflicts through his principle of cooperative federalism. In deference to Alake’s vision, several states have applied and obtained licenses to participate actively in the mining sector and operate as Limited Liability Companies.

As you celebrate your 68th birthday, I want to express my gratitude for your unwavering dedication to our country, the President, and the solid minerals sector.

Your infectious zest and passion for transforming the hitherto neglected mining sector has captured global attention, and we are all motivated to support your vision of making solid minerals a leading contributor to our nation’s GDP.

Happy Birthday, “Prime Minister”. 68, hearty cheers. Many happy returns, sir.

 

Segun Tomori, FSCA is the Special Assistant on Media to the Honourable Minister of Solid Minerals Development.

Continue Reading

BIG STORY

President Tinubu Congratulates Dele Alake On 68th Birthday

Published

on

President Bola Tinubu congratulates the Minister of Solid Minerals Development, Dele Alake, on his 68th birthday.

President Tinubu celebrates his long-time ally, buddy, brother and invaluable partner for his support throughout his political journey as Senator, Governor of Lagos State, Presidential candidate and President of the Federal Republic of Nigeria.

The President says he cherishes working closely and collaboratively with Alake in more than three decades.

The President thanks Alake for his candid counseling and unwavering support, which have provided invaluable guidance during challenging times in public office.

He notes that Alake’s staying power in the various roles he has handled in his lifetime has been rooted in his honesty, passion, tact, determination and exceptional public relations.

President Tinubu is confident that the Minister will continue to uphold his high standards of excellence in service to the nation.

He joins family, friends, and well-wishers in offering prayers for Alake’s continued success and well-being.

 

 

 

 

 

 

 

 

 

Continue Reading

BIG STORY

Osun State Vs Segilola: Ministry Of Solid Minerals Development Probe Claims, Cautions Against Divestment

Published

on

The Ministry of Solid Minerals Development is probing the claims and counter-claims of Osun State Government and Thor Explorations Limited, owners of the Segilola Resources Operating Limited over taxation and operational matters.

The Minister of Solid Minerals Development, Dr. Dele Alake announced today that a fact-finding team has been set up to engage both parties towards resolving the dispute and restoring industrial harmony.

Led by Dr. Mary Ogbe, the Permanent Secretary, Ministry of Solid Minerals Development (MSMD), the committee will include representatives of the Federal Inland Revenue Service (FIRS), Ministry of Labour and Employment and the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

The Minister observed that the Federal Government has been marketing opportunities for investments in the solid minerals sector across the world and cautioned that closure of mining operations by subnationals could abort efforts to attract Foreign Direct Investments (FDI) and provoke divestment.

“ Indiscriminate closures of mining operations by subnationals raises the risk of discouraging foreign direct investments and even worse, possible divestment by existing companies. Mining is on the exclusive legislative list. The Ministry of Solid Minerals should be consulted before such disruptive actions are taken.” Dr. Alake asserted.

The Minister reiterated the Federal Government’s interest in raising the tempo of productive activities nationwide to boost economic growth, increase employment and community development.

Dr. Alake stressed that any cessation of industrial production will undermine the goals of economic prosperity, deny workers the opportunity to earn income, and further contribute to adversity.

Alake called on both parties to co-operate with the fact-finding team and allow production to continue while the issues are resolved.

“ I hereby call on His Excellency, the Governor of Osun State, Sen. Ademola Adeleke and the management of Thor Exploration Limited to sue for peace and industrial harmony in the interest of the workers and their dependents who may be adversely affected by closure of operations at the factory.” he added.

Continue Reading

Most Popular