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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NNPC CANNOT CONTINUE MAKING SUBSIDY PAYMENTS WITHOUT VALID APPROPRIATIONS.-SARAKI.

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      Senate President Bukola Saraki wrote on social media few hours ago today that ''As some of you know I spent a lot of time on the issue of fuel subsidies in the 7th Assembly.
The important thing we must all understand is that the NNPC cannot continue making subsidy payments without valid appropriations. These payments must be backed by law.
This is why, yesterday, the 8th Senate resolved that:
1. The NNPC should stop all the illegal payments without appropriation henceforth;
2. The NNPC, through Mr. President, should make a formal request to the National Assembly for the 2018 fuel subsidy payments;
3. The Federal Republic of Nigeria should pay all marketers their outstanding arrears of subsidy owed in 2017;
4. Our local refineries should be given maximum attention to enable them function at full capacity;
5. A full audit of the NNPC should be carried out; and
6. There must be appropriate sanctions for officers and personnel who have carried out this illegal payment''.
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