LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years  for N43.5m Fraud    Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.   The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00   Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
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ELIAS PREKO GOES TO JAIL BECAUSE OF IBORI'S LOOT.

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Elias Preko: laundered $5million for James Ibori       Elias Preko 54 years old,an ex banker and from Ghana was sentenced to four and the half years in prison by a London court on Monday for laundering $5MILLION on behalf of James Ibori,the former Governor of Delta state.Ibori is serving 13 years  in a British jail after pleading guilty last year to 10 counts of fraud and money laundering.Elias Preko,became the fifth of Iboris's associates to be jailed for assisting his corruption after the Ex-Governor's wife,mistress,sister and lawyer were all convicted by British courts in previous trials.Elias Preko a Harvard graduate,had left Golman Sacks bank before he committed the offences and the bank is not accused of any wrong doing.the court heard Preko tried to open accounts on Ibori's.behalf when he still worked there but this was not authorized by the bank.

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