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 PAYS ANOTHER BATCH OF RETIREES N716 MILLION.#PRESS RELEASE.

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    The Lagos State Government has again credited the sum of N716, 951million into the Retirement savings accounts of 169 retirees from the Public Service for the month of June, 2018 at Bond Presentation Ceremony which took place recently at Ikeja.
Dr. Akintola Benson-Oke, who represented Governor Akinwunmi Ambode at the event, said that more than N38billion had so far been expended on 9,214 retirees since inception of the presentadministration.
He reiterated the commitment of the state government to the well-being of all civil servants, both in active service and retirement, adding that prompt payment of salaries to civil servants and retirees benefits underscore the importance the administration attached to the welfare of its workers.
On her part, the Director-General, LASPEC, Mrs. Folashade Onanuga stated that the State Government has continued to play a leadership role in the implementation of the Contributory Pension Scheme in Nigeria.
She advised the retirees to be wary of the choice of annuity or programmed withdrawal benefit options for their monthly pension, adding that the Government will soon introduce more welfare programmes that will enhance the living standard of retirees.Onanuga also disclosed that the Lagos State Government, through the Commission has paid more than N40 million as insurance benefits to the relatives of 15 deceased employees, stressing that the Estate of a deceased staff is also entitled to receive the balance in the retirement account and accrued rights due, if the employee had joined service before the commencement of the Contributory Pension Scheme (CPS).
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