Capital Oil MD, Ifeanyi Uba, Matrix Energy MD Abdulkabir Aliu 7 Others Remanded in Prison

Ifeany Uba

The Managing Director of Capital oil and Gas company Limited, Ifeanyi Uba 42, and his counterpart and Managing Director of Matrix Energy Limited, Abudulkabir Aliu have been remanded  by a  Lagos Magistrate court sitting in at Tinubu Lagos for getting themselves involved in fraud activities running into billions of Naira.  Other Management staff of Capital oil were also remanded among them were: Nsika Usoro, Head of Trading, Chibuzor Ogbuokiri, Operations General Manager, Godffery Okorie, Depot Manager, Orji Joseph Anayo, Executive Director, Operation. While the MD of Capital oil and his staff members were remanded for 14 day,  Abdulkabir of Matrix Anergy Limited and his operations Manager, Yusuf Oyolola and his accountant Adewale were remanded for 15 days in the Special Fraud Unit in order for the agency to complete their investigation on their alleged involvement in economic sabotage of about N13.3 Billion.

The presiding officer Magistrate Owumi Martin based his ruling on the application filed by the commissioner of Police pursuant to section 264 of the administration of Criminal Justice Law 2011.