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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FUEL SCARCITY,HITS AWKA ANAMBRA STATE.

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                      According to sources,there is now fuel scarcity in Awka Anambra state and they are now selling fuel as high as N110 and N115 .Some pressmen who monitored the situation today wednesday reports that most filling stations had no fuel sign placed at their gates while a few that had the product had long queues of vehicles.Mr Benjamin Abimaje,Manager at Femas Services Station Awka said ''There was no product because of the sudden outrageous increase in loading cost.I have applied for products for some days noe but the increase in price and scarcity at the depot in Lagos had made it impossible for them to get loaded.We do not have fuel.The cost is high at the depot and when you add other charges,it may not land at less that N98.It is also biting us because we are not selling,no profit,yet we are incurring loss,we hope it normalises soon''.Chief Ikechukwu Nwankwo,Chairman of Independent Petroleum Marketers Association of Nigeria {IPMAN},Enugu zone said ''I can confirm to you that there is no PMS now,the pump price increase is only natural because landing cost at the station is now between N95 and N99,the NNPC on its part does not have products.Marketers are having problems with funds because most times,government does not remit their part and even when they do,it comes late.Also the interests to banks eat up our profits.The government has role to play to ensure we come out of this problem''.More photos below.                                                                                

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