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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COURT ORDERS FANI KAYODE TO REMAIN IN EFCC CUSTODY FOR 21 DAYS,TODAY.{PHOTOS}.

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                  The EFCC today monday May 23,2016,secured an order from Justice B.O Osunsanmi of Magistrate Court of Lagos State,sitting at Ikeja to remand the former Minster of Aviation,Feni Fani Kayode.Justice Osunsanmi gave the oder of remand after the Commission's counsel,Nkeruwam Anana moved an application before the court urging his lordship to remand the suspect pending conclusion of investigations in the matter involving fraudulent conversion of the sum of N840,000,000.00 {Eight Hundred and Forty Million Naira} transferred from Ministry of External Affairs to Jointrust Dimensions Nigeria Limited account.Anana quoted the company's account number as 1010740698 domiciled in Zenith Bank Plc.Fani Kayode is also suspected to have conspired with a former Minister of Finance and PDP campaign leader Nenadi Ester Usman,and Jointrust Dimentions Limited to perpetrate this heinous crime by fraudulently converting to their personal use and the use of others the total sum of N1,500,000.000.00 {One Billion,Five Hundred Million Naira only}.The order of remand however was in accordance with section 264 {1} of the Admistration of Criminal Justice Law of Lagos State,2011 which states that ''Any person arrested for any offence triable on information shall within a reasonable time of arrest be brought before a Magistrate for remand and the Magistrate shall have powers to remand such a person after examining the reasons for the arrests exhibited in the request form filed by the police,and if satisfied that there is probable cause to remand such person pending legal of the Director of Public Prosecutions or the arraignment of such persons before the appropriate court or tribunal''.Justice Osunsanmi however granted the application of the prosecution to remand Femi fani Kayode in EFCC custody for 21 days pending when investigations be concluded in order that the suspect will not influence or interfere with the investigation process.More photos below.                                                                                                    

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