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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LASG RELEASES OVER N1 BILLION PENSION ENTITLEMENTS.

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     The Lagos State Government has released more N1.24billion for the payment of Pension entitlements of 183 Public Service retirees under the Contributory Pension Scheme Dispensation for the month of March 2018.
The State Commissioner for Establishments, Training and Pensions, Dr. Akintola Benson Oke, who disclosed this at the 49th Retirement Benefit Bond Certificate presentation ceremony held on Wednesday in Ikeja, reiterated the commitment of the current administration to ensure the payment of terminal benefits of retired staff.
He said that 8,731 retirees had accrued pension rights of over N35 billion paid into their Retirement Savings Accounts from the inception of this administration to date, adding that “Despite the fact that funding obligations are huge, Lagos State is very consistent in payment of pension entitlements due to Governor Ambode’s commitment and diligence”.
The Director-General, Lagos State Pension Commission, Mrs. Folashade Onanuga in her welcome address assured the retirees that the government will still keep in touch with them after they have collected their Bond Certificates to know how they are fairing in retirement, especially on their birthdays, through the Post Service Department, in the Office of the State Head of Service.
She advised the retirees to make an informed decision about the choice of either Programmed Withdrawal or Life annuity option for receipt of terminal entitlement.Responding on behalf of the retirees, Mrs. Ego Onwuzubike thanked the government for its good gesture towards former employees and appealed to her colleagues to “shine their eyes” when filling forms with their PFAs by asking questions whenever in doubt.She said, “The two exit options are good, depending on what you want, and no particular one should be forced on any retiree. Read the instruction very well before you fill your forms”, she said.
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