The State Security Services, SSS, has released Ifeanyi Ubah, the chairman of Capital Oil and Gas Limited, after nearly six weeks in detention on allegation of “economic sabotage”.
According to Channels Television, Mr. Ubah was released Monday night unconditionally by the security agency.
Mr. Ubah was arrested by the SSS on May 5 for allegedly diverting petrol kept in his tank farm in Lagos by the Nigerian National Petroleum Corporation (NNPC).
The SSS said the product was valued at N11 billion, and that its diversion was an attempt to cause fuel scarcity in the country.
Conflicting rulings by two High Courts stalled Mr. Ubah’s initial bail application.
While one court in Lagos ordered Mr. Ubah’s immediate release, another in Abuja blocked such move.