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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CENTRAL BANK OF NIGERIA,TAKES OVER SKYE BANK TODAY.

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                             Today monday,the Central Bank of Nigeria {CBN},took over Skye Bank after the lender failed to meet the regultor's minimum key liquidity and capital adequacy ratios.The CBN Governor,Godwin Emefiele,disclosed this at a press conference,held at the CBN's head office in Lagos.Emefiele said the apex bank had appointed a new board and management for the bank following the resignation of the Chairman Chief Tunde Ayeni and Management Director/Chief Executive officer Timohy Oguntayo.The rate at which people have started withdrawing their money is alarming i will advice the CBN to assure the Syke bank customers that their money is safe to avoid panic withdrawal that can crash the bank.One more photo below.                                                                                  

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