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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CBN GOVERNOR WAS SUMMONED TODAY BY THE SENATE,AS NAIRA IS BEING EXCHANGED FOR N305 TO $1,TODAY.

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               Today thursday,the Nigerian Senate summoned the Central Bank of Nigeria {CBN} Gover,Mr Godwin Emefiele over the continuous depreciation of naira.The upper chamber said that Emefiele should appear before it by 11:00 am,on teuesday January 19,2016 to explain the continuous weakening of the Naira against the Dollar.The invitation followed a Point of Order raised by the Senate Leader,Senator Mohammed Ali Ndume,over the matter.Senate President,Abubakar Bukola Saraki,asked Senator Ndume to convey Senate's resolution inviting him to the CBN governor.Ndume said it was expedient for the Senate to invite the CBnN governor to brief it on the free fall of the naira.''As of toda,naira is exchanged for N305 to one dollar.In view of this worrisome situation an the fact that we all know that this country depends so much on imported materials and even food,there is a need for this Senate to as a matter of urgency call,invite or summon the governor of CBN to explain this situation and to provide the necessary solution to this situation.One more photo below.                       

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