Breaking news: Ifeanyi Uba granted bail

Billionaire businessman and MD of Capital Oil and Gas Ltd, Mr Ifeanyi Uba was this evening released from the custody of the Special Fraud Unit after spending 10 days in their cell in Ikoyi. He was arrested on October 9th following accusations of fraud totaling N43billion from the Aigboje Aig-Imoukhuede led 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.

Mr Uba was released this evening after he fulfilled his bail conditions.