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 GOVERNMENT,HAS PAID SUBSIDY CLAIMS {N407,076,805,386.30} TO OIL MARKETERS TODAY.

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             A statement from the Federal Ministry of Finance signed by Mr Marshall Gundu,Director,Press of the ministry said the Minister of Finance Mrs Kemi Adeosun has confirmed the payment to the oil marketers.Adeosun noted that President Muhammadu Buhari had directed that the payments should be ''Made immediately in order to bring to a quick end the lingering fuel crisis which has caused great suffering to Nigerian families and business''.The minister of finance also said that ''Despite dwindling revenues,the government is committed to ensuring continuous availability of fuel to Nigerians''.The wednesday payments to oil marketers she said ''Include arresrs from the 2014 financial year as well as payments for the current year''.

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