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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MTN NIGERIA,DEBUNK RUMOURS OF THE COMPANY'S FINAL SETTLEMENT WITH THE FINE TODAY.

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                               Mr Ferdi Moolman,Chief Executive Officer of MTN Nigeria said today saturday in a statement  about the rumours of  the company's final settlement of the N780 billion fine was false.He said-  ''The management of MTN Nigeria is aware of the reports on the settlement negotiations.The confidential negotiations are still very much ongoing with the authorities to achieve an amicable resolution of the matter.Accordingly,no further comment can be made at this time''.The company has been negotiating with the Government over a possible reduction of the fine and made a part payment of $251 million {N50 billion},also setting aside $600 million for further payment of the fine.One more photo below.                                                                                                                                       

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