Ifeanyi Ubah, the owner of Capital Oil, has been arrested and detained by Nigeria’s Department of State Services (DSS).
The main reason is not yet known.
But the businessman had been previously implicated in a fraud saga with the Nigerian National Petroleum Corporation, NNPC.
The NNPC had on March 17 said that it would take full measures to recover about N11 billion worth of Premium Motor Spirit (PMS) which it stored in the facilities of Capital Oil and Gas Ltd in Lagos.
A source close to Ubah confided with TheNewsGuru.com that he was truly arrested.