LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE
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
Garba Shehu who is the Presidential spokesman says efforts to get the nation out of its present economic challenges are beginning to yield positive results,especially in agriculture.According to the presidential aide,an increase in the volume of rice production and processing across the country iss already saving the country a lot off foreign exchange.She,who is the Senior Special Assistant on Media and Publicity to the President,said that Nigeria only imported 58,000 tons of rice from Thailand in 2015 as against 1.2million tons in 2014.He revealed that due to the country's growing rice production occasioned by the Central Bank of Nigeria's decision to deny foreign exchange for the importation of rice ''parboiled rice mills'' in some Asian countries were shutting down production.According to him,this is because Nigeria,which is one of the world's largest importers of rice no longer,buys rice from them.''Five of such mills in Thailand servicing Nigeria have stopped production due to the withdrawal off our patronage.This country has about 32 fertilizer blending plants that have remained idle for many years,but that about half of that number is now in production with many of them running three shifts a day''.
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