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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INSURANCE COMPANIES IS SET TO PAY EACH FAMILY OF THE VICTIMS OF EGYPT-AIR,$25,000.

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                  According to Chairman of EgyptAir Holding Company Safwat Mesallam said that Insurance companies have agreed to give US$25,000 to each family of the victims of the EgyptAir flight MS802 crash,as an interim payment for the full compensation to be paid to families.Death certificates will be issued in the next two days he said,and the legalities settled concerning who will inherit the money.The full compensation will be determined by the rules of International insurance as applied in similar cases.More photos below.                                                                                                           

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