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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NATIONAL COUNCIL ON PRIVATISATION {NCP} APPROVES 8 PROJECTS.{READ}.

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      The National Council on Privatisation (NCP), chaired by Vice President Professor Yemi Osinbajo, met on August 22 and 23, 2017, and approved the following:
1. Commencement of privatisation of Afam Power plants 1-5 to inject additional power into the national grid & improve electricity nationwide.
2. Pursuit of an out-of-court settlement involving the privatisation of Aluminium Smelter Company of Nigeria (ALSCON).
3. The immediate revocation of the concession of the Lagos International Trade Fair Complex.
4. Immediate commencement of a fresh privatisation of Yola Electricity Distribution Company.
5. Amendments to Work Plan for the conclusion of the transaction for the concessioning of Terminal “B” Warri Old Port.
6. The restructuring and recapitalisation of the Bank of Agriculture.
7. Immediate commencement of reform and commercialisation of the River Basin Development Authorities, to revitalise irrigation.
8. The partial commercialisation of Nigeria's National Parks using three key national parks as pilot projects.
The NCP is the highest decision-making body on the privatisation and commercialisation policies of the Federal Goverment of Nigeria.
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