Department of State Services,DSS, has arrested the Managing Director of Capital Oil and Gas Ltd, Ifeanyi Ubah, over alleged acts that are inimical to the economy.

Ubah was arrested on Friday for allegedly stealing, diverting and illegally selling petroleum products stored in his tank farm by Nigeria National Petroleum Corporation,NNPC.

An operative, Tony Opuiyo said so far, it had been established that the products stolen amount to over eleven billion naira.

The operative also said Ubah allegedly engaged in other activities inimical to national security and public order.

He said Ubah allegedly incited members of the Petroleum Tanker Drivers, a critical player in the downstream sub-sector of the petroleum industry, to stop the lifting of products.

This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in his favour with the ulterior motive of arm-twisting the NNPC to abandon the cause of recovering the stolen products.

There is no doubt that Ubah’s acts have the capacity to negatively impact on national economy,’’ Opuiyo said.

He said it was for the reasons listed that the Service arrested Ubah and would prosecute him.

Opuiyo assured Nigerians that the Service would collaborate with appropriate agencies to check mischievous activities of groups or individuals.

He said that the Service would also support such agencies to bring to book individuals or companies involved in any criminal act that undermined the nation’s economy.