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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2 PEOPLE WERE ARRAIGNED BY THE EFCC FOR N156 MILLION FRAUD,IN OYO STATE.

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                           Today the 8th of October 2015,The Economic and Financial Crimes Commission {EFCC},arraigned Adebola Adeseye Idowu and Isiah Kayode Ajisafe before a Oyo state High Court on 16 count charge bordering on conspiracy,stealing,abuse of office,and contract inflation.The accused persons are alleged to have connived and used their positions as Executive Director and Chief Accountant,respectively,to defraud their former employer,National Horticultural Research Institute,NIHORT,of various sums of money amounting to N156 million.The money was allegedly stolen by siphoning staff arrears during the implementation of 15 percent increments on consolidated emoluments and illegal deductions of 7.5% as pension fund.The accused persons were said to have pocketed N70,000,000 purported to be meal subsidy.Also the accused persons are alleged to have approved contracts beyond their limit of N50,000,000 by splitting the contract valued at N123,526,941.10 into three parts.Further investigation revealed that most of the contracts were awarded to companies which never existed.The accused persons pleaded not guilty to all the charges.The Judge granted the accused persons bail in the sum of N10 million each with one reliable surety in like sum.The case was adjourned to 10th and 16th of November 2015.

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