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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SHELL PLANS TO PAY $51MILLION TO NIGERIANS AS COMPENSATION?

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               According to sources,Royal Dutch Shell is ready to pay up to 30 million pounds {$51 million} in compensation for two oil spills in Nigeria in 2008 after a London court rejected claim.Around 15,000 residents of the Bodo community in the Niger Delta represented by a law firm Leigh Day,appeared in 2011 to a London court for more than 300 million pounds in compensation.Claimants say that the two spills resulted  in the leakage of 500,000 barrels of oil but Shell estimated the volume at aound 4,000 barrels.The lawyer representing the claimants rejected the sum of 30 million pounds in September 2013,and June 20 2014.The London High court on friday June 20 2014,rejected the claimant's attempts to expand the scope of the compensation,ruling that the pipeline operator could not be held responsible for damage caused by oil theft.A trial is planned to start in May 2015 in Nigeria,but shell urged the claimants to reach a settlement before hand.

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