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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EFCC STATEMENT: NO GOVERNOR INDICTED OVER PARIS CLUB LOAN REIMBURSEMENT.

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No automatic alt text available.                 The attention of the Economic and Financial Crimes Commission,EFCC has been drawn to a report captioned,Nigerian State Governors,Senate President Saraki Pocketed Billions of Naira from Paris Loan Refund,which appeared in the online news portal,Sahara Reporters on Sunday February 12,2017.
The report among others claimed that the Commission has indicted all the governors of the 36 states of the Federation and the Senate President,Bukola Saraki in the ongoing investigation of the reimbursement paid to state governments by the Federal Government for excessive deduction charged to them on account of the Paris Club and other international loans.
The Commission wishes to state unequivocally,that no state governor or Senate President has been indicated so far by the investigation which is still at a preliminary stage.Also,insinuations about cover up by some officials of the Commission are untrue as there is no incentive to do so.
The Commission implores the Media to be circumspect in the reportage of this delicate issue in order not to jeopardize ongoing investigation,and be assured that they would be fully briefed of developments as soon as breakthrough is achieved.
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