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
According to PM News,who reported that ahead of the Affordable Housing Summit which opens tomorrow monday in Abuja,the Minister of Power,Works and Housing,Mr Babatunde Fashola SAN,has given an insight into how the Federal Government plans to achieve a sustainable housing programme for the country saying it is only through standardization of designs,even while taking into cognizance the cultural preferences of the nation's geopolitical zones,that industrialization and mass housing can be possible.Fashola,who met with National Assembly Committees on Housing to present the Implementation Plan of the 2016 Budget as it concerns the National Housing Programme during the week,said although there could be the desire out there that government should rush out and do what everybody has done in the past,and probably end up with the same old results,the forcus of the present administration was more on a sustainable housing plan.The Minister,who cited two housing models,Singapore Housing Development Programme and the United Kindom Housing Scheme,to explain the need for sustainability,said while the UK model started in 1918 and the Singaporean model in 1960,one common factor in those countries was a ''a near uniformity of design'',when one looked outside,adding,''In whatever community that they build,as designs vary,they remain the same within one community''.Citing Lagos State as an example of where Housing was given higher allocation,the Ministers said ''Yes there is a temptation to implement a 2016 Budget but,truth be told,how much is the 2016 Budget? A little over N30 billion; it is not going to solve our housing problem.The Budget for Housing for My state in 2015 was in excess of N40 billion and it hasn't solved all the problems in that state.So it is not just about implementing a budget,when we get to full scale,clearly we will not be talking of N35 billion,we will be talking of hundreds of billions and trillions to keep the value chain going because it is an extensive value chain''.
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