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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3 COMPANIES WITHDREW THEIR SPONSORSHIP,FROM FIFA.

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                                  According to sources,oil manufacturers Castrol,Tyre company Continental and Healthcare Company Johnson and Johnson have followed Emirates and Sony by choosing not to renew their contracts with FIFA that expired last year.Sources claimed that the three companies had deterred by allegations of corruption that have been leveled at FIFA following the bidding process for the 2018 and 2022 world cups.Thierry Weil,FIFA Marketing Director said ''Rotations at the end of a sponsorship cycle are common place in the sports industry and have continuously occurred since the commercialisation of the FIFA World cup began.The contracts with with Castrol Continental and Johnson and Johnson were always planned to run until the end of 2014 and therefore expired on the 31th of December,2014 accordingly''.

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