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

DSS ARRESTED IFEANYI UBAH ON FRIDAY OVER N11B OIL THEFT.

Image result for ifeanyi ubah              Ifeanyi Ubah,the chairman of Capital Oil and Gas Limited has been arrested by the Department of State Services.The agency revealed the arrest yesterday in a statement by spokesman,Tony Opuiyo.Opuiyo said Ubah was arrested on friday in connection with the theft of petrol kept by the Nigerian National Petroleum Corporation,NNPC,in his tank farm in Lagos.The product was valued at over N11 billion.The agency said Ubah's action amounted to economic sabotage,with ''capacity to negatively impact on national economy.In furtherance of his gimmicks to undermine the government and people of Nigeria,he has incited members of the Petroleum Tanker Drivers {PTD},a critical player in the downstream sub-sector of the Petroleum Industry,to refuse/stop the lifting of products.This is part of his plans to curry their sentiments and cause them to embark on strike and also stage protests in hiss favour with the ulterior motive of arm-twisting the NNPC to abandon the cause of recovering the stolen products.The implications of this on law and order is,in fact,a common knowledge.It is consequent upon this that the Service arrested and will prosecute him forthwith.The public is hereby reassured that the Service will collaborate with appropriate agencies to ensure that the mischievous activities of any person or group{s} to engage in illegal activities will not affect the effective distribution of products across the country.It also support such agencies to bring to book individuals or companies act that undermines the nation's economy''.
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