By  Abdulwahab  Abdulah
LAGOS — Efforts by the detained Managing Director of the Capital Oil and Gas Limited, Ifeanyi Uba, and four of his company’s executives to secure their bail, yesterday, suffered a setback as a Federal High Court, Lagos, refused their ex-parte application.

Uba and his officials had approached the court through an ex-parte application, praying it to grant them bail from police detention.
In his ruling, Justice Okon Abang, refused their ex-parte application while directing them to put the respondents on notice through a motion on notice. The matter is expected to be heard today.
Those who joined Ubah to ask for bail are Nsikan Usoro (Head of Trading), Godfrey Okorie (Depot Manager), Chibuzor Ogbuokiri (General Manager, Operations) and Orji Joseph Anayo (Executive Director, Operations).
Joined as respondents in the case are the Inspector General of Police, IGP, Commissioner of Police, SFU and Francis Idu Alonyenu, a Chief Superintendent of Police.
Their counsel, Joseph Nwobike, SAN had  argued that the court should release them pending the determination of a substantive suit challenging their continued detention.
They urged the court to grant them an order directing the respondents to admit the applicants to bail or release them from detention pending the determination of the substantive suit.
They also prayed for an order of interim injunction restraining the respondents and their agents from further arresting and detaining the applicants in relation to the same fuel subsidy issue pending the determination of the substantive suit.
It will be recalled that the applicants were arrested on October 9 by men of the Police’s Special Fraud Unit (SFU), Ikoyi, Lagos, for allegedly defrauding the country of N43.291billion in fuel subsidy fund.
A Magistrate Court at Tinubu, Lagos presided over by  Magistrate Martins Omowunmi, had last Thursday, a granted a request for remand, brought pursuant to Section 264 of the Administration of Criminal Justice Law of Lagos by the police, while he ordered that they be kept in police custody for 14 days.
The police said they were being investigated for offences bordering on economic sabotage, obtaining money by false pretences and stealing.
They were accused of defrauding the Federal Government, “by falsely pretending that the company had imported and sold 538, 74 million litres of Premium Motor Spirit during the 2011 fiscal year through 26 transactions.”