The chairman of Capital Oil and Gas limited, Andy Ubah has described his arrest by the Department of State Services as a complete attempt to blackmail him.
The oil magnate said the claim by the DSS that he was involved in theft of petrol kept by the Nigerian National Petroleum Corporation, NNPC, in his tank farm in Lagos was a wrong accusation.
The agency on Friday picked up Ubah over his connection with the missing petroleum product, which was valued at over N11bn.
The department said Ubah’s action amounted to economic sabotage, with “capacity to negatively impact on national economy”.
Reacting, however, in a statement issued on Monday, Ubah said his arrest by the DSS was a breach of his fundamental right to liberty, freedom of movement and association.
The statement signed by the management of the company said all the allegations leveled against their boss, Ubah were false and unfounded.
The statement reads in full.
The incarceration of our Chairman by DSS is unlawful, a disregard for the rule of law and a breach of Dr. Ubah’s fundamental right to liberty, freedom of movement and association.
A similar invitation was extended to Dr. Ubah on the 24th of March 2017, which he honoured as a law-abiding citizen only to be detained in DSS offices in Abuja for almost a month.
During that period a Fundamental Rights Enforcement Application was brought on behalf of Dr. Ubah at the Federal High Court Lagos as Suit No. FHC/L/C/487/2017.
Although an order was made for his production in court in that action, rather than obey the order, officers DSS, using a combination of coercion and cajoling, constrained him to discontinue that action upon an understanding that he would be immediately released. He was not released until over two weeks after he had complied and completely discontinued that action.
Upon his release on the 13th of April 2017, it was now discovered that during his incarceration he had been coerced into executing various documents committing the company to make certain payments and pledge some assets to NNPC Retail Limited. He was also made to execute a document in favour of the Asset Management Corporation of Nigeria (AMCON).
As soon as his doctors permitted access to him an action was brought at the Lagos Division of the Federal High Court seeking, inter alia, an order to restrain DSS and others from further inviting, arresting or threatening to arrest or detain him in regard to the NNPC/NNPC Retail Ltd matters.
The processes originating the new action filed as Suit No. FHC/L/CS/644/2017, were served on the DSS on the 28th of April 2017.
Dr. Ubah’s lawyers wrote to the DSS pointing out that any preemption of the judicial intervention during the pendency of the new action is totally irregular, a disregard of the rule of law, the constitutional guarantees of separation of powers and breach of the doctrine of Lis Pendens.
Rather than respect its constitutional and statutory limits the DSS has brazenly abducted Dr. Ubah and commenced a media blitz to justify their illegality.
THE ACCUSATIONS OF THEFT AND ECONOMIC SABOTAGE ARE COMPLETELY FALSE.
For the avoidance of doubt and to put the records straight, NNPC owes Capital Oil & Gas Industries Limited over N16 billion represented as follows:
$5,540,000 (N2.2billion) – unpaid berthing fees for NNPC vessels that called at our Jetty
$2,952,555 (N1billion) – invoice for chartered vessels to carryout STS operations Lagos offshore to ferry product (PMS) to storage at the request of NNPC since 2015
N1.170billion – amount owed to Capital Oil & Gas Industries Limited for throughput services from March to October 2016
N3.146billion – payment made to NNPC for 26,820million litres of PMS vide Pro-forma Invoice No. 53598 which is yet to be delivered to us
N2.0billion – Payment to NNPC in April to facilitate the release of the Managing Director and engender reconciliation which NNPC reneged on.
N6.266billion – N0.80k and N0.40 Jetty Throughput charge on over 7 billion liters dispensed for NNPC by us.
On economic sabotage, it is unimaginable that a company which has stood by NNPC and by extension the country at very critical petroleum supply crises can now be accused of engaging in activities to undermine the effective distribution of petroleum products across the country having thwarted a nationwide industrial action called by oil marketers during the epic inauguration of President Muhammadu Buhari
The challenges facing women engaged in cross-border trade across West Africa took centre stage at the ECOWAS Caravan 2025, held at the Federal Palace Hotel, Victoria Island, Lagos, on July 11, 2025.
Launched this year by the Economic Community of West African States (ECOWAS), the Caravan is a transformative empowerment initiative designed to support small-scale women traders in West Africa’s informal trade sector.
The two-week journey followed the Abidjan–Lagos trade corridor, running from June 30 to July 14, with major stops in Abidjan, Lomé, Cotonou, and Lagos, culminating at the ECOWAS Gender Development Centre.
Speaking during the official launch of the Lagos leg and the caravan’s closing ceremony, the ECOWAS Commissioner for Social Affairs and Gender, Professor Fatou Sow Sarr, emphasised the pivotal role women play in the region’s informal economy.
“Women are the lifeblood of informal trade in West Africa… this caravan is about visibility, voice, and value — it’s about shifting narratives and shaping policies that support women where it matters most: on the ground,” she said.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, officially launched the Lagos stage of the sensitisation and awareness campaign for small-scale women traders. She described the initiative as a timely and necessary intervention.
“This initiative is a direct response to equip and empower our women, who form the majority of traders along the corridor and represent the backbone of informal cross-border trade across the region.
“These women play a critical role in ensuring food security, creating jobs, and sustaining livelihoods in both border communities and their homes.”
According to Ambrose-Medebem, these women are more than traders; they are economic builders who continue to operate under conditions marked by uncertainty and frequent harassment.
She stressed that the campaign represents a significant step forward, aiming to expand awareness of trade regulations, legal frameworks, and ECOWAS community protocols that govern cross-border commerce.
Speaking to the press, the commissioner noted that the Lagos State Government remains committed to supporting informal sector traders, particularly women entrepreneurs.
“I want to say that Mr Governor, Babajide Sanwo-Olu, approved ₦500 billion for MSMEs under the Lagos State Access to Finance initiative for small businesses through cooperatives at 0% interest,” she disclosed.
The fund, matched by the Bank of Industry with another ₦500 billion, is non-collateralised, features a six-month moratorium, and offers a competitive 9% interest rate.
Dr Chinyere Almona, Director-General of the Lagos Chamber of Commerce and Industry (LCCI), applauded ECOWAS for its commitment to gender equality and regional integration, calling this year’s campaign “symbolic and necessary.”
“For women working in agriculture, fisheries, artisanal value chains, and cross-border trade, their daily grind is not just a livelihood; it’s an act of resilience and enterprise.
“Women traders form the uncelebrated backbone of West Africa’s informal trade economy, representing over 70% of informal cross-border traders and playing an indispensable role in food supply.”
Almona urged governments and stakeholders to invest in institutionalised, continuous capacity building through community-based training hubs in local languages, digitalisation of border procedures, and the creation of mobile-friendly platforms to expedite trade clearance and improve efficiency.
“Women in the informal trade are producing the formal results that is adding to the GDP and creating major employments.”
In her remarks, Princess Omotola Omole, National President of the Federation of Business Women Entrepreneurs (FEBWE), commended ECOWAS for its steadfast support of women.
“ECOWAS has consistently stood with women, ready to support, connect, and empower every woman who dares to dream big and trade to uplift her community,” she said.
Others who presented papers included the Lagos State Commissioner for Agriculture, Ms. Ruth Abisola Olusanya, who sent a representative.
The ECOWAS Small Business Coalition also expressed heartfelt appreciation to the ECOWAS Commission, partners, collaborators, and delegates for their pivotal roles in making the ECOWAS Caravan 2025 a landmark success.
Dr. Abdulrashid Yerima, speaking on behalf of the coalition, emphasised the collaborative impact of the caravan, stating, “The bridges we build today become the trade routes of tomorrow’s prosperity.”
He also praised the ECOWAS Commission for its leadership and credited the collective synergy of partners and delegates for transforming challenges into opportunities.
The closing ceremony, which hosted over 300 participants from across ECOWAS member states, featured an interactive town hall meeting where panellists addressed key topics such as capacity building, awareness strategies, and toolkit presentations, while also responding to audience questions.
Building on the successes of previous editions, the Tema–Paga corridor in 2023 and the Dakar–Banjul–Bissau route in 2024, the 2025 ECOWAS Caravan not only boosted the economic potential of women traders but also strengthened trade facilitation, enhanced market access, and fostered robust institutional partnerships across participating nations.
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