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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FUTA: VICE CHANCELLOR,BURSAR DOCKED TODAY FOR OVER N156 MILLION FRAUD.{PHOTOS}.

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Image result for futa vice chancellor and bursar docked               The Economic and Financial Crimes Commission,EFCC,today tuesday,February 14,2017,arraigned the duo of the Vice Chancellor,Professor Adebiyi G. Daramola and the Bursar,Emmanuel Ayodeji A. Oresegun,before Justice S.A Bola of Ondo State High Court,Akure Ondo State,on a 9-count charge bordering on obtaining under false pretense,abuse of office,misappropriation of funds and conspiracy to steal to the tune of N156,984,455.33 {One Hundred and Fifty Six Million Nine Hundred and Eighty Four Thousand Four Hundred and Fifty Five Naira Thirty Three Kobo}.
The VC and the Bursar's journey to the dock followed a petition received by the EFCC in 2016,alleging that the duo and the governing council of the University were entrenched in unmitigated corruptin,fraud,mindless stealing of the funds of the Federal University of Technology,Akure,Ondo State.
It was alleged that the VC misapplied funds,collects housing allowances whilst living in the government residential quarters,drew Furniture Allowance annually instead of once in 4 years as approved by income and wages Commission,uses public funds to finance private expenses,illegal payment of allowances to Council members of the University,gives self excessive cash advance,direct procurement of motor vehicles without approval/waiver from Bureau of Public Procurement,collecting bogus monthly imprest,transferred and placed N100,000,000.00 funds of the University in a fixed deposit account without due authorization.The 2 accuse persons,however pleaded not guilty to the charges.
Justice Bola,after considering the arguments of all the counsels,granted bail to the defendants in N10m bond,2 sureties in like sum who must be professors in the Federal University of Technology,Akure,or public officer not less than grade level 17,must depose to affidavit of means,present title documents of landed properties within the jurisdiction of the court and must present evidence of tax payment for the past 3 years.
Justice Bola however adjourned the matter to 20,21 and 22 of March for trial and ordered that the defendants be remanded in State CID,Police headquarters,Akure pending the perfection of their bail applications.More photos below.
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