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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FEDERAL HIGH COURT IN LAGOS,NULLIFIED LADIPO MARKET ELECTION & SACKED THE EXECUTIVES.

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                  An election was conducted by the traders under their registered Union where Comrade Kingsley Ogunor emerged as the Chairman and the President of the Central body called Ladipo Auto Central Executive Committee,LACEC.However,Justice Mohammed Yunusa of the Federal High Court Lagos,nullified the election and ordered Ogunor and his executive not to parade themselves as leaders of the market union.The judgment followed the suit filed by aggrieved members of the union over the outcome of the election.The suit was filed by Leonard Onwughalu and others against Kingsley Ogunor and his executives.The plaintiffs asked the court to declare as follows,that the activities carried out by the defendants outside the union's constitution as registered with the Corperate Affairs Commission were unconstitutional,illegal,null and void.That the election and assumption of office by the defendants as executives of the union was unconstitutional,null and void.An order to dissolve the executives and appoint board of trustees of the union to operate and direct the affairs of the union and to conduct a new election.All the reliefs sought by the plaintiffs were granted by justice Yunusa.Following the judgment,defeated contestant on LACEC presidential election,Felix Okoro has given notice to LACEC,BOT,his intention to take over as the president of LACEC with seven days.

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