http://punchng.com/ifeanyi-ubah-diverted-11bn-pms-nnpc-tells-court-2/

The Nigerian National Petroleum Corporation has opposed the suit filed by the Managing Director of Capital Oil and Gas Limited , Ifeanyi Ubah , seeking to be released from the custody of the Department of State Services .

In a preliminary objection filed through its lawyer , K . T . Turak ( SAN ) , and argued on Thursday before Justice Mohammed Idris of the Federal High Court in Lagos , the NNPC claimed that Ubah and his company diverted 84 , 891, 730 litres of Premium Motor Spirit belonging to the NNPC . The PMS , the corporation claimed , was valued at N 11 , 144, 586, 314. 40 .

The NNPC claimed that the alleged fraud was discovered when its books were being checked. It said Ubah was aware that the NNPC had been under “ serious scrutiny, investigation and financial audit of its various accounts and daily productions ” since the beginning of the administration of President Muhammadu Buhari . The development , the NNPC said , was aimed at “ stopping leakages in revenue and non - remittance of proceeds from the sale of petroleum products . ”

The NNPC said contrary to Ubah’ s claim , it did not intimidate the business , alleging that rather , it was Ubah and his company who circumvented a commercial agreement they had with the NNPC in order to allegedly overreach the NNPC and the Asset Management of Nigeria .

It said , “ Consequent upon the above development, the 7 th respondent ( NNPC) carried out stock physicalisation of operators’ storage facilities including those of the applicants (Capital Oil and Ubah ).

“ He ( Ubah) knows , as a fact , that the exercise revealed huge variance between the book stock maintained by AMCON and the physical stock available at Capital Oil depot as follows :

“ As of January 2017 , the variance between the book balance and physical balance of product in the applicants’ depot was 21 k , 286 , 860 litres . “ As of February 2017 , the variance between the book balance and physical balance of product in the applicants’ depot was 56 , 481 , 861 litres . “ By March 2017 , the variance between the book balance and physical balance of product in the applicants ’ depot reached 84 , 891, 730 .

“ At the end of the exercise , it was discovered that the applicants had converted and / or diverted 84 , 891, 730 litres worth N 11 , 144, 586, 314 . 40 without the knowledge of the NNPC and AMCON . ” The NNPC alleged that despite writing Ubah and his company to return the product or pay the money , they had “ deliberately failed , refused and / or neglected to do so . ”

The NNPC said Ubah was arrested and detained by the DSS pursuant to the security agency ’ s mandate to stop leakages and recover government revenue.

Also , the DSS , which had been detaining Ubah since May 6 , urged Justice Idris to dismiss the businessman ’ s suit , saying Ubah was being detained on the order of Justice Y . Haliru of the High Court of the Federal Capital Territory , Abuja . The security agency said the order was lawfully obtained on May 10 in compliance with the provisions of the Administration of Criminal Justice Act 2015 .

Though Justice Idris had on May 9 , 2017 ordered the DSS to produce Ubah before him on May 12 to give reasons why an order for Ubah ’ s unconditional release should not be made , the DSS failed to take Ubah to court.

Rather, its lawyer , Mr . Peter Oluremodu , said Ubah was being detained based on a court order for the purpose of investigation and urged the judge to dismiss the businessman’ s suit.

“ We urge the court to dismiss the application because it is a ploy by the applicant to distract the agency in the ongoing investigation .

“ This is a case of economic sabotage for which a court in Abuja has ordered that we go on with our investigation . I urge My Lord to dismiss the application, ” Oluremodu said .

But Ubah ’ s lawyer , Mrs . Ifeoma Esom, urged Justice Idris to order Ubah ’ s release , contending that the DSS could not act as a debt collection agency .

“ Even if money were owed , it is still not enough reason to arrest and detain the applicant . The functions and duties of the Department of State Services as provided by law do not include the recovery of debts .

“ There is no correlation between the facts before my Lord and national security, ” Esom said. Justice Idris adjourned till May 25 , 2017 for ruling .

flatheaded criminal

Igbos and crime *insert jacob zuma meme*

Op, where or which court did they say so because the DSS refuse to produce Ubah in court yesterday as directed by the court.

Anyway, in other reports, allegedly from their records of transaction, NNPC is owing Ubah N13b while Ubah 'steal' their N11b worth of petroleum products.

psucc:
Op, where or which court did they say so because the DSS refuse to produce Ubah in court yesterday as directed by the court.

Anyway, in other reports, allegedly from their records of transaction, NNPC is owing Ubah N13b while Ubah 'steal' their N11b worth of petroleum products.

so you believe authority newspaper owned by ifeanyi uba side of story than this?

abu12:
http://punchng.com/ifeanyi-ubah-diverted-11bn-pms-nnpc-tells-court-2/


[s]The Nigerian National Petroleum Corporation has
opposed the suit filed by the Managing Director of
Capital Oil and Gas Limited , Ifeanyi Ubah , seeking
to be released from the custody of the Department
of State Services .


In a preliminary objection filed through its
lawyer , K . T . Turak ( SAN ) , and argued on
Thursday before Justice Mohammed Idris of the
Federal High Court in Lagos , the NNPC claimed
that Ubah and his company diverted 84 , 891, 730
litres of Premium Motor Spirit belonging to the
NNPC .
The PMS , the corporation claimed , was valued at
N 11 , 144, 586, 314. 40 .


The NNPC claimed that the alleged fraud was
discovered when its books were being checked.
It said Ubah was aware that the NNPC had been
under “ serious scrutiny, investigation and
financial audit of its various accounts and daily
productions ” since the beginning of the
administration of President Muhammadu Buhari .
The development , the NNPC said , was aimed at
“ stopping leakages in revenue and non -
remittance of proceeds from the sale of petroleum
products . ”


The NNPC said contrary to Ubah’ s claim , it did
not intimidate the business , alleging that rather , it
was Ubah and his company who circumvented a
commercial agreement they had with the NNPC in
order to allegedly overreach the NNPC and the
Asset Management of Nigeria .


It said , “ Consequent upon the above development,
the 7 th respondent ( NNPC) carried out stock
physicalisation of operators’ storage facilities
including those of the applicants (Capital Oil and
Ubah ).


“ He ( Ubah) knows , as a fact , that the exercise
revealed huge variance between the book stock
maintained by AMCON and the physical stock
available at Capital Oil depot as follows :


“ As of January 2017 , the variance between the
book balance and physical balance of product in
the applicants’ depot was 21 k , 286 , 860 litres .
“ As of February 2017 , the variance between the
book balance and physical balance of product in
the applicants’ depot was 56 , 481 , 861 litres .
“ By March 2017 , the variance between the book
balance and physical balance of product in the
applicants ’ depot reached 84 , 891, 730 .


“ At the end of the exercise , it was discovered that
the applicants had converted and / or diverted
84 , 891, 730 litres worth N 11 , 144, 586, 314 . 40
without the knowledge of the NNPC and AMCON . ”
The NNPC alleged that despite writing Ubah and
his company to return the product or pay the
money , they had “ deliberately failed , refused and /
or neglected to do so . ”


The NNPC said Ubah was arrested and detained
by the DSS pursuant to the security agency ’ s
mandate to stop leakages and recover
government revenue.


Also , the DSS , which had been detaining Ubah
since May 6 , urged Justice Idris to dismiss the
businessman ’ s suit , saying Ubah was being
detained on the order of Justice Y . Haliru of the
High Court of the Federal Capital Territory , Abuja .
The security agency said the order was lawfully
obtained on May 10 in compliance with the
provisions of the Administration of Criminal
Justice Act 2015 .


Though Justice Idris had on May 9 , 2017 ordered
the DSS to produce Ubah before him on May 12 to
give reasons why an order for Ubah ’ s
unconditional release should not be made , the
DSS failed to take Ubah to court.


Rather, its lawyer , Mr . Peter Oluremodu , said
Ubah was being detained based on a court order
for the purpose of investigation and urged the
judge to dismiss the businessman’ s suit.


“ We urge the court to dismiss the application
because it is a ploy by the applicant to distract the
agency in the ongoing investigation .


“ This is a case of economic sabotage for which a
court in Abuja has ordered that we go on with
our investigation . I urge My Lord to dismiss the
application, ” Oluremodu said .


But Ubah ’ s lawyer , Mrs . Ifeoma Esom, urged
Justice Idris to order Ubah ’ s release , contending
that the DSS could not act as a debt collection
agency .


“ Even if money were owed , it is still not enough
reason to arrest and detain the applicant . The
functions and duties of the Department of State
Services as provided by law do not include the
recovery of debts .


“ There is no correlation between the facts before
my Lord and national security, ” Esom said.
Justice Idris adjourned till May 25 , 2017 for
ruling [/s].

The Nigerian government is the criminal in this matter for handling this via intimidation since he allowed you to store your products in his storage tanker. HE WOULD HAVE SAID NO AND THERE NOTHING YOU CAN DO. This is a business contractual matter that should settle out in court not via intimidation and arrest. This is not Banana Republic!

fiizznation:
I thought some people said NNPC have cleared Mr ubah of any irregularities. When I told them Mr ubah siphoned about 11billion naira, they said am a hater. Tribalism and wiping up unnecessary sentiments won't take us to anywhere in this country.

Ubah can rote in jail for all I care but am sure he is not the only one owing the federal government. If we should calculate the difference in the exchange rate given to Dangote by Buhari and how much Nigeria could have earned without such ridiculous waiver i am a million percent sure it will be way pass 11billion.

Buhari should stop acting a bigot and fight corruption if he wants or simply stop this nonsense of selective fight.

Olu20090:


The Nigerian government is the criminal in this matter for handling this via intimidation since he allowed you to store your products in his storage tanker. HE WOULD HAVE SAID NO AND THERE NOTHING YOU CAN DO. This is a business contractual matter that should settle out in court not via intimidation and arrest. This is not Banana Republic!

his he the only one that allowed NNPC to store pms in his storage facility? what about MRS oil company that store pms worth 62billion naira in their oil tank farm, but paid the money back to NNPC? this is a criminal case, he should deal with it.

abu12:


[s]his he the only one that allowed NNPC to store pms in his storage facility? what about MRS oil company that store pms worth 62billion naira in their oil tank farm, but paid the money back to NNPC? this is a criminal case, he should deal with it.[/s]

Afonja without sense. I gave you some of my items to hold for me. We had disagreement on the said storage contract, the next day, I brought some police to your house, picked you up and locked you up. I go around, calling you a criminal.

Legitimate flat head business man?
Where you go find that one?

Olu20090:


The Nigerian government is the criminal in this matter for handling this via intimidation since he allowed you to store your products in his storage tanker. HE WOULD HAVE SAID NO AND THERE NOTHING YOU CAN DO. This is a business contractual matter that should settle out in court not via intimidation and arrest. This is not Banana Republic!

Do u think NNPC will store a product in your tank for free

Go and ask well my brother u will see that money is being paid for those storages and even other privileges.

I remember when NNPC also came to inspect Ayiri tank farm at Ifie, warri south.
Most of these tank farm actually write proposals to NNPC in order to receive storage and NNPC in turn do proper inspection before they bring their cargo to ur tank farm

I don't want to join issues on the travails of Uba all I want to do is clear the air about ur idea of nothing anyone can do if he doesn't want to accept their product.

NNPC does not store product for free ask those who are knowledgeable about it.

Crime and criminality plenty for the DNA Its eaither drugs, baby factory or fraud. Hardworking thief

Crime and criminality plenty for the DNA Its eaither drugs, baby factory or fraud. Hardworking thief

Igbos should stop supporting Criminals from their region. Why are they like this, a criminal from other tribes have been picked up but you will never hear anybody support them.

abu12:

But Ubah ’ s lawyer , Mrs . Ifeoma Esom, urged
Justice Idris to order Ubah ’ s release , contending
that the DSS could not act as a debt collection
agency .

“ Even if money were owed , it is still not enough
reason to arrest and detain the applicant . The
functions and duties of the Department of State
Services as provided by law do not include the
recovery of debts .

“ There is no correlation between the facts before
my Lord and national security, ” Esom said.
Justice Idris adjourned till May 25 , 2017 for
ruling .

Dull defense

What i don't understand is that why he can't pay the amount ust like MRS oil has done? If as he claimed he is the leader in that sector of oil business why he can't pay the 11billions and then file a separate claim from the courts for his unpaid dues from the NNPC?

Olu20090:


Afonja without sense. I gave you some of my items to hold for me. We had disagreement on the said storage contract, the next day, I brought some police to your house, picked you up and locked you up. I go around, calling you a criminal.

"AFONJA ".. .. That's the only word they use to console themselves when they are Defeated in an argument