Billionaire businessman and Chairman of Capital Oil and Gas ltd,Mr ifeanyi Uba who has been in the custody of the Special Fraud Unit for the past 10days has been granted bail.
Uba was arrested on the 9th of October following the allegation of fraud totalling N43 billion from the Aigboje Aig-Imoukhuede led presidential committee on verification and reconciliation of fuel subsidy payments.
The committee noticed some gross irregularities perpetrated by many marketers and alerted the police on the matter for investigation.
The business tycoon was released yesterday evening after he had met all the requirements for his bail.
Source: Daily Post
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