Corruption Alert: EFCC arrests Ubah, granted bail for N43bn subsidy scam

Accusation

When his firm was accused of taking money through fraudulent means last year, Ubah had accused the Chairman of the Presidential Committee on the Verification of Subsidy Claims, Mr. Aig Imoukhuede, of bias and witch-hunting, following what he called ‘failed business deal’ they had together.

However, a 23-page report released by the Special Fraud Unit of the Police on November 5, 2012, alleged that Capital Oil and Gas received N43,291 billion for the importation of 538.74 millions litres of fuel through forged documents.
The SFU report detailed how top government officials in the Petroleum Products Pricing and Regulating Agency, Nigerian Ports Authority, Department of Petroleum Resources and Nigerian Maritime Administration and Safety Agency colluded with the firm to cook up documents.