Ifeanyi Uba Arrested Over N22.4 Billion Fraud

Mr Ifeanyi Uba, the Managing Director of Capital Oil & Gas Industries Ltd has been arrested by the Police Special Fraud Unit over the involvement of his firm in a N22.4 Billion subsidy fraud. Pointblanknews.com reports that the alleged arrest of Mr Uba occurred at exactly 2.00pm on April 7, Tuesday. He was said to be in the company of his lawyers at the time of his arrest.