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
The Lagos State Government has paid accrued pension rights totalling N48 billion naira to over 10,300 retirees to underscore its committement to improve the welfare and well being of former staff.The Commissioner,Ministry of Establishments,Training and Pensions,Dr Benson Oke Akintola,who stated this yesterday tuesday while speaking at the 10th Retirement Benefit Documentation Seminar for employees who are due to retire from the Lagos State Public Service between July and December,2016 at Alausa,Ikeja said the State Government will continue to deliver tangible dividends of democracy in spite of the limited available resources.Dr Akintola,represented by the Permanent Secretary,Civil Service Pensions Office,Mrs Funmilayo Balogun said ''Prompt payment of the monthly salaries and allowances of all active workers by the Lagos State Government will continue to be our focus.This is because Government is ever conscious of the necessity to ensure the well-being of its workforce whose contributions to its achievements cannot be quantified''.Speaking earlier,the Director General,Lagos State Pension Board,Mrs Folashade Onanuga said that the total contributions credited into active employees Retirement Savings Accounts managed by the 10 Pension Fund Administrators approved by the State Government,from April 2007 to March 2016 is approximately N64 billion.She restated that the accrued pension rights of N48 billion paid by the present administration to over 10,300 retirees has increased the total amount remitted by the State Government as employee's pension rights under the Contributory Pension Scheme to N112.080 billion naira.aThe Retirement Benefit Documentation Seminar is a bi-annual event which is intended to prepare employees,retiring from the civil service,for a life of financial independence,as well as educate them on how to manage their health in retirement.One more photo below. 
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