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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THE MINISTER OF FINANCE,IS ORGANISING A WORKSHOP FOR ALL STAKEHOLDERS IN THE NIGERIA MOVIE INDUSTRY,JULY 1ST.

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                           According to Channels Television,the Nigerian government is organising a workshop for stakeholders aimed at restructuring and reinvigorating Project ACT Nollywood.It is a three billion Naira grant programme established by the Federal Government to solve the main challenges impeding the growth of the Nigerian Movie industry.The workshop,which is scheduled for Friday July 1,would be attended by representatives of the key stakeholders in the Nigerian Film industry-the Federal Ministry of Information and Culture,the leadership of Nollywood,the Actors Guild,Film and Videos Censors Board,the Nigerian Film Corporation and the Nigerian Copyright Commission.It is being organised by the Minister of Finance,Mrs Kemu Adeosun.Mrs Adeosun said the ideas discussed during the workshop would be part of the inputs for restructuring the project to ensure its sustainability.So far,the Project ACT Nollywood has implemented specialist training programmes in Nigeria and abroad in which 247 practitioners have been trained to improve their technical and professional capacities in the entertainment industry.Similarly,113 film projects,employing 2,436 people,have been co-financed through grants from the fund at the cost of 799 million naira,while the Innovative Film Distribution Programme has been designed to support viable solutions in film distribution and the prevention of privacy.One major issue that the workshop will be looking to address is that of privacy,as the World Bank had estimated that for each copy of a Nigerian film sold,nine pirated copies are sold.The National Bureau for Statistics,has estimated that the Nigerian Film industry contributed 1.4 percent to the country's Gross Domestic Product in 2013 and 2014,and employed an estimated 250,000 people directly.More photos below.                                                             

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