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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KOGI AND AKWA IBOM,PICKED AS THE 2 SITE FOR NUCLEAR POWER PLANTS IN NIGERIA.

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                 It was reported today that two sites for the construction of its planned nuclear power plants,as Nigeria tries to end decades of electricity blackouts.Russia state owned Rossatom,which has been in talks with Nigeria over the nuclear plants,yesterday friday confirmed two sites had been selected in Nigeria and they said they would have a total of four reaction.This facts were made to the public by Nigeria nuclear agency.Nigeria with a population of around 170 million has installed power capacity that fluctuates between around 6,000 MW to just over 7,000 MW,according to the Transmission company of Nigeria,with 80 percent of its power plants fired by gas.A source at Rosatom said one nuclear power plant costs between $5billion to 8billion,though the Nigerian government have not yet disclosed to us,on how they are going to fund the project.

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