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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I DON'T HAVE HOUSES IN MAITAMA+MAGU IS SET TO SUE THE SUN NEWSPAPER FOR FALSE PUBLICATION.

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Image may contain: 1 person, plant                The acting Chairman of the Economic and Financial Crimes Commission,EFCC Ibrahim Magu has denied owning any house or houses in the Maitama area of Abuja.Reacting to a report captioned,Magu Under Fresh Probe over 2 Abuja Mansions,which appeared in the The Sun Newspaper of Saturday March 25,2017,the EFCC boss dismissed the story as a work of fiction and threatens legal action against the newspaper and the authors of the story.The report which appeared on page 9 of the newspaper,among others,claimed that Magu is being probed regarding the ownership of two mansions in the Maitama area of Abuja allegedly linked to his wife.Relying on ghost sources,the newspaper claimed that ''the houses being investigated are located in Danube Street,Maitama and Missouri Street,off Colorado Close,Ministers Hill'', It added that ''the two houses were said to have been bought last year''.Magu stated that neither himself nor his wife own any property in Maitama.He urged Nigerians to disregard the report as false and designed by the authors to achieve motives that are obvious.''I don't have any mansion anywhere in Maitama.Would I have two mansions in Abuja yet chose to live in a rented apartment in the same community?.The Sun can take over the properties if they have evidence that they belong to me or my wife'',Magu said.The acting chairman disclosed that he is taking legal action against the newspaper.''This is another calculated attempt t smear my reputation.They may have gotten away with such false reports in the past but I will not let this go unchallenged.I have already briefed my lawyers to institute legal action against The Sun Newspaper,'' Magu declared.
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