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
The Lagos State Government has paid accrued pension rights off over N55.941billion to over 'Twelve thousand four hundred and twenty six retirees since the commencement of payment of entitlements in the Contributory Pension Scheme dispensation.The State Commissioner of Establishments,Training and Pensions,Dr. Benson Oke Akintola disclosed this today in Ikeja while speaking at the 11th Retirement Benefit Documentation Seminar for employees,who are due to retire from the Lagos State Public Service between January-June next year,adding that this speaks volume about the importance placed on ex-employees by the State.He said that this Government is committed to worker's welfare and therefore will ensure that their entitlements are paid promptly.According to him,''Many employers of labour and indeed,many State Governments do not see the need to prepare their employees for a new life.This Administration however,is a people oriented one and we have resolved that everyone who has worked diligently for the State has to be paid his dues,as soon as possible and also be prepared for future challenges''.Speaking earlier,the Director General,Lagos State Pension Commission,Mrs Folashade Onanuga said that the present administration of had expended 'Twenty one billion,nine hundred and twenty nine Naira as accrued pension rights in the last sixteen months,stressing that the State Government has not,at anytime or in anyway,shirked in her responsibilities and commitment to the regular funding of the employees' Retirement Savings Accounts.She advised the prospective retirees to have a savings culture,if they want to enjoy life in old age,saying ''Funds reduce in old age,but expenses soar as health challenges associated with age make demands on the meagre resources''.The Director General said the Commission is set to pay another batch of retirees in this month of December this year,but however appealed to prospective retirees to be wary of pension fraudsters.The Retirement Benefit Documentation Seminar is a bi-annual event which is intended to prepare employees who would be retiring,for a life of financial independence.It is also aimed to educate them on how to manage their health in retirement as well as early documentation requirement,amongst others.
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