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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LAGOS RECENTLY SEALS 18 HOTELS,EVENT CENTRES OVER N91M TAX EVASION.

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      The Lagos State Internal Revenue Service (LIRS) has shut 13 hotels, restaurants and event centers for failure to pay their taxes due under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009.
The Hotels and Restaurants were said to be owing the State a sum of N426,976,528.87
The Director Legal Services of the LIRS, Mr. Seyi Alade, on Friday 17 November 2017 during the state-wide tax enforcement exercise, warned that defaulting Hotels, Restaurants and Event Centers will henceforth face the full wrath of the law if they fail to deduct and remit their taxes as provided by the law. He promised to release in due course the names of the entities affected by the enforcement exercise.
According to him, failure to deduct and remit taxes as at when due attracts very serious penalties that may lead to the sealing, seizure of the goods and chattels and criminal prosecution of principal officers of recalcitrant entities.
He said the LIRS usually gives a long rope by issuing multiple notices to the taxpayers to inform and also remind them of their tax liabilities adding that only recalcitrant taxpayers are shut down as in the present case.He therefore urged all business entities operating in the state to ensure prompt remittance of their taxes to avoid costly disruptions on their businesses as a result of a distrain exercise.
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