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 UNCOVERS DIEZANI'S $37.5M MANSION IN BANANA ISLAND IKOYI YESTERDAY.

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 Related image                                 According to the Economic and Financial  Crimes Commission {EFCC}''This is indeed the season of discoveries and recoveries.We recorded another breakthrough in the course of our investigation of the former minister of Petroleum Resources,Dexiani Alison-Madueke as EFCC Uncovers $37.5m Diezani's Mansion at Banana Island,Lagos.The aggressive drive by the Economic and Financial Crimes Commission,EFCC to recover all hidden assets of former minister of petroleum resources,Diezani Allison-Maduele who is under investigation for corruption and money laundering produced another breakthrough this week with the discovery of a property acquired through shell companies by the former minister at upscale Banana Island in Lagos.The property Building 3,Block B is a fifteen storey edifice comprising of 18 flats and 6 penthouses,Bella Vista at Plot 1,Zone N,Federal Government Layiut,Banana Island Layout,Foreshore Estate,Off Onikoyi Road,Ikoyi,Lagos.The property was allegedly acquired by the former minister between 2011 and 2012 at a total cosr of thirty Seven Million,Five Hundred Thousand United States Dollars {$37,500,000USD} from the developers,YF Construction Development and Real Estate.The property was allegedly acquired in the name of a shell company,Russimpex Limied under the control of certain Mr. Afamefuna Nwokedi of Stillwters law firm,in Lagos .The investigation.
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