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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AMBODE WOOS INVESTORS TO LAGOS AT NAIROBI'S GERMAN-AFRICAN BUSINESS SUMMIT TODAY-{PHOTOS}

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 Image may contain: 6 people, people standing and suit                  Lagos State Governor,Mr Akinwunmi Ambode today thursday said the State is willing,able and ready to partner with investors within and outside Africa,just as he said that adequate measures have been put in place to enhance the ease of doing business within the State.
Governor Ambode,who spoke at the second edition of German-African Business Sunnit held in Nairobi,Kenya said as Africa's model mega city,Lagos is strategically positioned to play a leading role in propelling development on the continent,adding that as a result of the growing investors confidence,the State is fast becoming a preferred destination for investors in Africa.
Giving statistics about State,the Governor said apart from being the 5th largest economy and fastest growing city in Africa with a population of over 22 million people comprising overwhelming proportion of middle class income earners,Lagos is also the contributor to the non-oil sector GDP.''Lagos accounts for over 60 percent of the country's industrial and commercial activities,over 70 percent of national maritime cargo freight; over 80 percent of international aviation traffic,and over 50 percent of Nigeria's energy consumption.Also,Lagos is the nexus of Nigeria's section of Trans-African Highway which is being boosted by our enormous investment on the expansion of the Lagos Badagry Expressway,the primary ECOWAS highway,into 10-Lanes with Bus Rapid Transit {BRT} and the first light rail metro transit in West Africa.With these and the State's 180km Atlantic waterfront criss-crossed by maze of creeks and lagoons,Lagos is an investment and tourist delight,'' the Governor said.More photos below.
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