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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TWO CURRENCY COUNTERFEITERS IN EFCC CUSTODY.{PHOTOS}.#PRESS RELEASE.

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    Operatives of Economic and Financial Crimes Commission, EFCC Makurdi Zonal Office have arrested two men, Moses Adukwu and Iorlumun Reuben for currency counterfeiting.
The journey for the two men began when the EFCC Makurdi zonal office received a case transferred from the Department of State Service, DSS against them.
Iorlumun, 27 years old from Vandeikya Local Government Area of Benue State was arrested by DSS who rescued him from being lynched. He had purchased airtime from a woman who noticed that Reuben had paid her with fake currency and alerted people around.
When interrogated, he confessed that he was introduced to the business by another man still at large who had also introduced him to a supplier, Adukwu. He also confessed to still be in possession of about N18,000 fake currencies which he has been unable to spend before his arrest.
Adukwu, 33, who hails from Olamabiro Local Government Area of Kogi State, is a former bus driver who joined the counterfeiting business in 2017. He claimed he was introduced to the fraudulent business by one Mohammed still at large. He also confessed that he had visited Lagos to get his consignment but his meeting with the supplier was conducted under the Oshodi bridge.Subsequently, he paid the cash equivalent into the supplier's account while his consignment of fake currencies are sent to him by Waybill process.
Adukwu revealed during interrogation that for N50,000 real currency, he gets about N400,000 fake naira notes in four packets. He then sells each pack of fake currency for N25,000 of genuine currency.
They will soon be charged to court.One more photo below.
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