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
Professor Fagbohun disclosed this plan at the News Agency of Nigeria {NAN} Forum in Lagos.He said ''Hostel is a critical component of university life,one of the major things that it does is bonding.It allows and assists for bonding within the students and even for effective management of the students.The good thing about it,the House of Assembly and pursuant to the directives of Gov.Akinwunmi Ambode,we have now been authorised to go ahead with hostel accommodation for our students.One of the things that is very common with Nigerians is uncompleted projects and you see a lot of interferences of political this,political that; everybody wanting to be part of hostel development.We did not want to engage ourselves in that.So we brought in transaction advises,we brought in Price Water Coppers.We did an advert for expression of interests and it was heavily subcribed,we had about 40 companies that applied.We have now passed all of that to Price Water Coppers to do the selection,checking financial capability,checking the technical competence,checking the track records; doing a comprehensive diligence on all of those who have applied and making a selection.What we want to do in the first phase is to accommodate between 5,000 and 6,000 students.This development is going to be done at Ojo,it will also go on at our Epe campus where we have the Faculty of Engineering,the School of Agriculture and PGS programme {Post Graduate Students}''.Faghohun further said that the university had to take that initiative because if it asked government to build the hostels,''It will not work because we all know there is so much demands on the purse of government.So government cannot do it alone''.He explained that part of what the PWC was doing was to determine the rent at which to give the hostel rooms to students.''This was a resounding point by the management during discussion that the charge must be affordable'', he said.He noted that the hotel charges must not be beyond the reach of the average student,it must be such that a student from any of the income group is able to afford.According to him,the project will be done through public private partnership {PPP} as there is so much demand from the government by different sectors.
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