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 today thursday approved a total sum of N740,432.00 as compensation for host communities of Parcel B comprising Yegunda,Abomiti and International Airport site of the Lekki Free Trade Zone {LFTZ].The State's Commissioner for Commerce,Industry and Cooperatives,Prince Rotimi Ogunleye,who announced the approval of the Governor at a media briefing held at the Bagauda Kaltho Press Centre in Alausa,said the development was in line the commitment of the Ambode administration to engender a sustainable cordial relationship between the host communities and investors in the LFTZ.Ogunleye,who addresed the briefing alongside the Special Adviser to the Governor on Commerce,Hon, Benjamin Olabinjo; Commissioner for Local Government and Community Affairs,Hon Muslim Folami; the Managing Director of Lekki Worldwide Investmentds Limited,Dr. Tunde Sodade,among others,said ever since coming on board,Governor Ambode has seriously and holistically addressed the salient need to compensate the host communities,adding that remarkable progress had been recorded in that regard.While stating that the State Government has continued to engage the host communities ever since the LFTZ project started in 2004,Ogunleye said the engagement principally centered on the need for the communities to recognize the multiplier effects of the project in terms of employment generation and the value to be added to the socio-economic lives of the people.He said already,modalities were being put in place to ensure hitch-free payment of the approved N740 million,adding that the payment would be effected with immediate effect.Responding to questions,Ogunleye said the compensation exercise was a continuous process,revealing that N65 million was paid early this year for land owners affected by the ongoing Dangote projects which included petrochemical plant,gas project,fertilizer and refinery project capable of refining 650,000 barrels of oil per day.He said before now,the host communities of the 3,000 hectares of land housing the LFTZ Development Agency,a company jointly owned by the State Government and a consortium of Chinese investors,were heavily compensated,adding that more land owners would be compensated in due course at the end of verification and valuation exercise.
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