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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AFRICAN NATIONS,DON'T MAKE ECONOMIC EXCUSES-OBAMA.

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U.S. President Barack Obama speaks at the Summit of the Washington Fellowship for Young African Leaders at the Omni Shoreham Hotel in Washington, July 28, 2014. REUTERS/Larry Downing            U.S president Barack Obama on monday gave a preview of a summit he will hold with African leaders next week,saying African nations should look inward for solutions to economic woes and not make excuses based on a history of dependence and colonization.Speaking to 500 young African finishing a six week Washington leadership fellowship.Obama said it was important for developed countries to consider providing some targeted debt relief,it was time to end the notion that all of African nations problems resulted from onerous debt imposed by the west.''At some point,we have to stop looking some where else for solutions,and you have to start looking for solutions internally.As powerful as history is,and you need to know that history,at some point,you have to look to the future and say ok,we didn't get a good deal the,but let's make sure that we're not making excuses for not going forward''.

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