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
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ALLEGED N1.2BN: COURT SENDS EX-MINISTERS SON SHAMSUDEEN BALA BACK TO PRISON TODAY PENDING FULFILMENT OF HIS BAIL TERMS.{PHOTOS}.

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Image may contain: 3 people, people standing, beard and outdoor                                                         Justice Nnamdi Dimgba of the Federal High Court sitting in Maitama,Abuja today friday,February 3,2017 ordered the remand of Shamsudeen Bala,son of a former Minister of the Federal Capital Territory,Senator Bala Mohammed in Kuje prison pending the perfection of his bail terms.Bala is being prosecuted on a 15-count charge of money laundering to the tune of N1.2 billion by the Economic and Financial Crimes Commission,EFCC.
He was admitted to bail today in the sum of N100million with two sureties in the sum of N50million each.The sureties must either be a private businessmen or public servant not below the rank of assistant director.The sureties must have landed properties in Abuja or within Lagos metropolis excluding satellite towns.The defendant must produce three years tax clearance and must not travel without the consent of the court.The defendant must also comply with Section 15 of the ACJA,2015 or depose to an affidavit in case of delay by the EFCC.More photos below.
Image may contain: 5 people, people standing and outdoorImage may contain: one or more people and people sittingImage may contain: 1 person, standing, car and outdoor

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