DSS, NNPC move to recover N11bn from Capital Oil over illegal fuel sale


Following its conclusion of investigation into the sale without appropriate authorisation of 82 million litres of petrol valued at N11 billion by Capital Oil and Gas, the Nigerian National Petroleum Corporation (NNPC) and Department of State Security (DSS) may have to force out a firm repayment plan from the management of Capital Oil, ThisDay reports.

Reliable sources within the corporation said on Saturday in Abuja that this was the latest decision reached by the DSS and NNPC in an attempt to recover the petrol stock or it financial equivalent, which the NNPC kept under a throughput agreement with Capita Oil.

 The firm was accused by NNPC of expropriating 82 million litres of petrol kept in its tank farm in Apapa area of Lagos. It subsequently denied that, but after a thorough investigation by the NNPC and subsequent sack of three of its officials found culpable in the act, ThisDay was reliably told that the Chairman of Capital Oil, Mr. Ifeanyi Ubah, had been in the custody of the DSS where he was expected to tender a firm repayment plan to the corporation and DSS.