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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FOUNDER OF IGI COMPANY REMI OLOWUDE,PASSED AWAY AT THE AGE OF 63.

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The late IGI boss, Remi Olowude           Remi Olowude,who is the Executive Vice Chairman/Chief Executive oddicer,CEO,of Industrial and General Insurance {IGI} Company,died of prostrate cancer at the age of 63 over the weekend.Osun state Governor,Rauf Aregbesola in a statement through the Diector,Burea of Communication and Strategy,Mr Semiu Okanlawon said that ''The death of Olowude was a big blow to the Insurance world,Osun state and Nigeria as a whole.The late insurance guru was an invaluable asset in the Insurance sector.Olowude's death has undoubtedly robbed the nation and insurance sector of another great personality.Here was a man of immense qualities,who had employed to promote everything ideal in his life time.Olowude,unarguably,distinguished himself in the insurance and business sector to the extent that his name became a house hold name across the country.I,on behalf of the government and people of Osun offer our heartfelt condolences,to the immediate and extended families of the deceased as well as the insurance family''.The Lagos state government also issued an official statement,describing his death as a great loss to the insurance industry in particular and the world of entrepreneurship in general.Rest in Peace.

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