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
According to the Nation Newspaper who reported that in a statement today tuesday issued by PDP National Publicity Secretary,Chief Olisa Metuh,the PDP accused the government of trying to use bogus welfare programme and phatom capital projects as cover and coduit to syphon the funds to satisfy partisan interests,particularly to settle huge campaign debts.The statement said ''It is obvious that this budget is an extension of the campaign promises of the APC government,presented of the APC government,presented as a manifesto filled with bogus promises which implementation will be inconclusive,thereby allowing the APC to once again deny their promises.There has never been any known economy in the world where government deliberately mortgage the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus welfare programmes.This is more so important as the APC in reeling out their bogus campaign promises,never informed Nigerians that they would mortgage their future through excessive borrowing.We have it on good authority that this is the first in the series of APC borrowings which would leave the future generation of Nigerians under the burden of huge debts after four years.By all standards,the 2016 budget,the first major economy policy outing of this government,is completely unrealistic and duplicitously embellished with impractical predications,a development that confirms fears by economy watchers and investors that this administration is obviously ill-equipped for governance.We are indeed shocked that President Buhari and his minister of information have come up with two different reasons for the current fuel crisis in the country.While we appreciate the President's apology,we think it is high time he called this minister to order as his excessive propaganda and blame game are ridiculing this administration and the image of the nation''.One more photo below. 
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