The Department of State Services is accusing businessman and Chief Executive Officer of Capital Oil and Gas Limited, Ifeanyi Ubah of diverting about 80 million litres of petrol, kept in his custody by the Nigerian National Petroleum Corporation.
The agency says Mr. Ubah shunned NNPC's several demands to account for the product estimated at N11 billion.
The DSS says the act amounts to economic sabotage, and is punishable by death.
Ubah is currently detained but has applied to the court to set aside the detention order, arguing , that the court was misled by the DSS.
Meanwhile, the Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, says several political office holders claim to be supporting the war against corruption but are doing the opposite.
He also faulted those asking the EFCC not to put too much focus on punishment of politically-exposed persons.
Magu said “it is time to weep for those who believe they can perpetually hold down Nigeria as a cow and milk her to death."