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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UAE ENERGY MINISTER,IS NOT IN SUPPORT OF OPEC EMERGENCY MEETING,AS EARLIER SAID TODAY BY IBE KACHUKWU.

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                                                                Today tuesday  the United Arab Emirates Energy Minister counters talks of potential emergency meeting of the Organization of the Petroleum Exporting Countries {OPEC} after Emmanuel Ibe Kachukwu,the Nigerian oil minister said today tuesday that a couple of members had requested a gathering.However,UAE Energy Minister Suhail bin Mohammed al-Mazroui later told the same conference that the current OPEC strategy was working,adding that time was needed to allow this to happen perhaps between one and 1-1 and half years.''I'm not convinced OPEC alone can change or can solely unilaterally change this strategy just because we have seen a low in the market.While the first half of 2016 would be tough for the oil market,there would be a gradual recovery later in the year,aided by an expected drop in non-OPEC production''.The Nigerian minister did not specify which OPEC members wanting a meeting and said any such gathering would be in February on March.OPEC's next scheduled meeting is not until June 2. More photos below.                                           

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