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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ANAMBRA GOVT SIGNS N525M MOU FOR COSMETIC FACTORY TODAY.{PHOTOS}.

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     Gov Willie Obiano has on behalf of the Anambra State Government signed a Memorandum of Understanding (MoU)with Sonny Peace Ltd -a private firm for the establishment of a factory for the manufacture of hair cosmetics.
The brief but impressive signing ceremony took place at the Governor's Lodge, Awka.
The MoU is worth Five hundred and twenty five million Naira (N525 million) and will see the investor contribute N500 million, while the Anambra State Government brings the remaining N25 million as their equity contributions respectively.
The factory which would be sited at Oba, Idemili South Council of the state, when fully operational, will have its profits shared as follows, Investor -85%, Anambra State Government -10%, while 5% will be dedicated to Corporate Social Responsibility services.
It is expected to commence work on the project site within six months of issuance of Certificate of Occupancy, as non-compliance would have the land title revoked with the land reverting automatically back to the State Government.
Governor Willie Obiano in a brief remark at the occasion said that having fought insecurity and improved on the ease of doing business in the State, his administration has opened the doors to prospective local and foreign investors.
The Managing Director of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), Mr Jide Ikeakor acknowledged that the project will increase stock in trade, generate massive employment as well as create activities that will boost economic growth and enhance the State's capacity to internally generate more revenue.
The investor, Mr Sunny Ogbu said the decision to establish the project was in response to the governor's call on Ndi Anambra to think home.
Anambra is on rise, be part of this progressive move.
"Willie is passionately working ".More photos below.
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