He urged the freed inmates to use the money as start-up capital to rebuild their lives.
He said investigations and credible intelligence led to the arrest of the suspects.
The suspect was arrested during a routine stop-and-search operation along Azikiwe Road by Red Cross Junction in Port Harcourt.
The commandant warned that illegal dealing in petroleum products in the country was not just a crime but an act of economic sabotage.
He urged stakeholders to strengthen awareness campaigns in motor parks, markets and other public places to curb the menace.
The command also arrested 189 suspected drug traffickers during the period, with 173 already convicted and serving various jail terms.
The NCF, with support from the Ford Foundation, is implementing an intervention to strengthen resilience, improve livelihoods, and promote biodiversity conservation in the state.
The police said 33 other suspects have been charged with criminal conspiracy and unlawful assembly in relation to the case.
The command also seized substances including tramadol, diazepam, and codeine weighing 2,451.684 kg; cannabis sativa, 2,925.089 kg; and methamphetamine, commonly known as ice.
Four children aged between four and seven years were rescued during the operation.
