Billionaire businessman and MD of Capital Oil and Gas Ltd is currently in a small cell at the Special Fraud Unit in Ikoyi. He was arrested on October 9th following accusations of fraud totaling N43billion from the Aigboje Aig-Imoukhuede nominated presidential committee on verification and reconciliation of fuel subsidy payments*. The committee discovered gross abuse by many marketers and reported the case to the police. His company leads the list of 25 companies indicted by the committee which discovered about N62 billion of subsidy fraud. So he's now facing criminal investigation.
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