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

2.6BN BADAGRY DEEP SEA PORT WILL BE A TURNING POINT FOR ECONOMIC GROWTH-AMBODE.{PHOTO}.


             Lagos State Governor,Mr Akinwunmi Ambode yesterday thursday expressed optimism that the $2.6bn Badagry Deep Sea Port Project would be a major turning point that would go a long way to bring about global growth to Nigerian waters and by extension the nation's economy.The Governor,who spoke shortly after another successful meeting with the executive management of APM Terminals {Maersk Group}, represented by Mr Morten Engelstoft,CEO designate of APM Terminals {Maersk Group},represented by Mr. Morten Engelstoft,CEO designate of APM Terminals in Copenhagen,Denmark,on the advancement of the Badagry Deep Sea Port,said the project would also complement the emergence of Lagos as the fifth largest economy in Africa.He said the meeting,held alonside Chairman,APM Terminal,Apapa,Chief Ernest Shonekan,was the culmination of process which begun as far back as 2012 and which has been taken on with renewed vigour by his administration and has thus resulted in this significant foreign investment estimated at over US $2.6billion into Lagos.''This port and free zone,situated on over 1000 hectares is expected to be the largest deep sea port in Africa upon its completion.The project will include a container terminal, oil & gas services and a liquid bulk terminal,with general cargo and Ro-Ro facilities,'' Governor Ambode said.The Governor while lauding the investors for staying the course with the project,expected to generate 500,000 direct and indirect jobs upon completion,pledged his government's commitment to ensuring the interests of the host communities alongside a sustainable regeneration and urban renewal of the area.

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