280M DOLLARS SUBSIDY SCAM:IFEANYI UBA AND OTHERS SHOULD NOT BE BAILED----POLICEeE

A Federal High Court in Lagos will today hear the bail application filed by the Managing Director of Capital Oil and Gas Ltd, Dr. Patrick Ifeanyi Uba and four others who are currently being detained by the police on the order of Tinubu Magistrates' Court over alleged oil subsidy fraud application by the Managing Director of Capital Oil and Gas, Dr. Ifeanyi Uba and four others aruguing that the money they stole is more than the monthly federal allocation of 11 states!

This was contained in an affidavit sworn to by the police. However, counsel to Uba, Mr Joseph  Nwobike, SAN, asked the court not to be swayed by the police as the case Uba and his co-accused are being tried for is a bailable offence.
Stating that the monies that Uba and his co-accused stole was over $280 Million, the Police counsel said that the bail application shold be denied because Uba's counsel conceleaked the fact that that they were detained on the order of a magistrate court, and moreover the police's case would be jeopardized if the suspects are released as they would interfere with the police investigations using their considerable stolen wealth.
The police allege that Uba made such a huge killing from the subsidy regime by falsifying shipping documents to fool the affected government agencies to the effect that he had imported and delivered products that his firm had not delivered.
NaijaPundit also discovered that the suspect, Ifeanyi Uba, is gunning to be the next Anambra goernor and successor to current Governor Peter Obi.