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 COOPERATIVE INVESTMENTS HITS N152B+COMMEMORATES 2018 INTERNATIONAL DAY OF COOPERATIVES.{PHOTO}.

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     Lagos State Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye has disclosed that Cooperatives’ investment in Lagos State economy has risen to N152 billion in the last three years.
She attributed the feat to concerted efforts by the present administration in the State to turn the cooperatives movement into an instrument of economic growth and business prosperity.
The Commissioner, who disclosed this on Monday at a Press briefing organised by the State Government to commemorate the Year 2018 International Day of Cooperatives, also noted that there has been an appreciable growth in the number of registered Cooperative Societies in the State.
She explained that the state government will continue to unleash the economic potentials of the Cooperative sub-sector for increased contributions to the State’s economy.
“The general objective of this realignment is to deploy cooperative principles towards the establishment of viable and profitable enterprises”, the Commissioner stated.
Speaking on the theme of this year celebration, "Sustainable Consumption and Production", the Commissioner described it (the theme) as a clarion call to members of the cooperative movement to show how they run successful businesses while respecting natural environment and the resources it offers.
The International Day of Cooperatives is an annual event aimed at increasing awareness about cooperatives societies, highlight the complementary goals and objectives of the United Nations and the International Co-operative Movement, underscore the economic contributions of the Cooperative Movement and also strengthen and extend partnerships between International Co-operative Movement and other actors.
Some activities lined up for the week-long celebration by the state government, are: Cooperative Awareness Walk, Quiz Competition, Visitation to some Homes & Orphanages on Tuesday, Annual Lecture/Exhibition on Thursday, Jumat Sevice/ Parade on Friday and the grand finale on Saturday July 7thwhich will be followed by Thanksgiving service on Sunday.The grand finale will feature Merit Award/Gala Night at Sheraton Hotel and Towers, Ikeja and will have the Governor of Lagos State, Mr. Akinwunmi Ambode as the Special Guest of Honour.
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