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
Lagos State Governor,Mr Akinwunmi Ambode has approved the sum of N15.5 million as seed funding and grants for final year students enrolled in the Ready.Set.Work {RSW} program.Ready.Set.Work is an entrepreneurship and employability training program for final year students of tertiary institutions in Lagos State,aimed at preparing them for economic productivity as value-creating employees or employers of labour.Commencing in June 2016,five hundred {500} promising final year students from Lagos State University {LASU},Lagos State Polytechnic {LASPOTECH}, amd Lagos State College of Health Technology {LASCOHET} have been enrolled in a rigorous curriculum either in the employability track or the entrepreneurship track.At the end of the program,over 90 top performing students in the employability track will be placed in 6-month internship positions with organizations like PwC,SystemSpecs,FCMB,GTBank,Access Bank,TOTAL,Jobberman,Stutern,among others.With Governor Ambode's recnt financial commitment to the Ready.Set.Work program,up to 80 students in the enrepreneurship track will likewise have the opportunity to partake in three to six-month entrepreneur apprenticeships where they can learn thr tricks of the trade,understand and develop processes for various business functions,and build a network of vendors,industry peers,and mentors.Speaking on the development,the Special Adviser to the Governor on Education,Mr Obafela Bank-Olemoh said that the focus of the initiative from the onset was to provide students in Lagos State with the tools,knowledge,and know-how to become effective employees or job creators.He said ''We already secured 90 internship slots for students in the employability track of the program and we realized that students in the entrepreneurship track could also benefit from experience in a structured,supervised work setting,where they can learn the rudiments of running a business effectively''.He further said the N15.5, committed by Governor Ambode's adminstration would also provide seed funding and working capital for the top three teams to emerge from the RSW Businesss Pitch Competition,which will hold on September 3rd.This announcement comes as the 13 week program enters its penultimate week,while a Graduation Ceremony has been scheduled for September to close out the program and celebrate the achievements of students who successfully complete their courses.
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