The Lagos State Police Command has arrested one of the key suspects linked to the theft of Premium Motor Spirit valued at N1.02 billion and recovered assets worth over N300 million connected to the crime.

Commissioner of Police, Fatai Tijani, disclosed this while briefing journalists at the command headquarters in Ikeja on Tuesday.

According to him, the arrest followed a petition by MEA Energy alleging conspiracy and theft involving two suspects accused of illegally diverting petroleum products.

Tijani said police operatives launched a discreet investigation backed by intelligence gathering and surveillance operations. After nearly two weeks of tracking, the 38-year-old suspect was arrested in Delta State while allegedly attempting to evade arrest.

The police commissioner revealed that the suspect confessed during interrogation and later led investigators to cash and properties believed to be proceeds from the illegal operation.

He added that efforts were ongoing to apprehend the second suspect still at large, noting that the arrested suspect would be charged to court after investigations are concluded.