LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE
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
Lagos state Governor Akinwumi Ambode,who attended the 4th European Union -Nigeria Business Forum 2015 at Eko Hotel & Suites Victorial Island said today at the conference that the agribusiness sector remains one of the most viable areas that the Federal as well as State Governments must begin to pay serious attention to boost its revenue generation in the wake of dwinding oil prices.The Governor said the harsh times in the oil sector and its attendant impact on government revenue makes it imperative to look inward for creative ways of growing the economy of the country and boosting gross domestic product.To this end,he said the agricultural sector serves as a ready alternative source of revenue generation not only to Government but aso to individuals and private organization through the various Agro alied value chains.''The EU's relationship with Nigeria is significant not ony because Europe remains the top destination for Nigeria's oil and non-oil exports,but also because the region accounts for nearly one third of Nigeria'd total trade.The statistics speak for themselves''.Furthermore ''In recognition of the need to create an enabling environment and enhance the ease of doing business in Lagos State we have established the Office of Overseas Affairs and investment {also called Lagos Gobal} directly under my office.Lagos Global is a one stop shop designed to ensure that whatever information,assistance,conditions etc may be required by investors from the state government towards faciitating their investment in the State are provided swifty and expeditiously,and in an environment devoid of bureaucratic bottlenecks''.Governor Ambode also said that efforts have been intensified towards the completion,it would foster greater economic and social integration within West Africa Sub region,He said his administration is alsso paying serious attention to the security and judicial sectors that would ensure the safety of investors and their investments as well as swift response to business related disputes.More photos below. 
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