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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GABRIEL IGBINEDION'S SON MICHAEL,SENTENCED TO 6YEARS IMPRISONMENT TODAY FOR MONEY LAUNDERING.

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Michael Igbinedion                     Today thursday,Justice Muhammed Lima of Benin division of Federal High Court sentence Michael Iginedion,son of Gabriel Igbinedion,to six years imprisonment over alleged laundering of N25 billion fund belonging to the Edo state government.Justice Lima also sentenced Patrick Eboigbodin,an aid to former governor Lucky Igbinedion to 20 years imprisonment in addition to a fine of N250,000 on a 10 count charge.Michael Igbinedion,a younger brother to former governor of Edo state Lucky Igbinedion was sentenced to two years imprisonment on each of the three count.He was however given an option of N3million fine.All the jail terms of the convicts are to run concurrently.PML Securities Limited,one of the companies allegedly used by the convicts to launder the funds,was ordered to fold up and forfeit all its assets to the Federal government.

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