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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EFCC PRESENTS N112M RECOVERED FUND TO KWARA STATE GOVT.{PHOTO}.#PRESS RELEASE.

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     The Ilorin Zonal office of the Economic and Financial Crime Commission (EFCC) on Friday October 11, 2019 presented a sum of one hundred and twelve million naira ( N112million) recovered from treasury looters to the Kwara state governor, Mallam Abdulrahman Abdulrazaq.
Speaking during the presentation at the office of the EFCC in Ilorin, the Zonal Head, Isyaku Sharu said the Zone which started its operations in February has achieved a lot in terms of assets recovery and conviction of corrupt individuals.
"We have 29 convictions and over N500million (five hundred million naira) recovery for both assets and cash; part of this recovery is the N111, 428, 891.00 cash recovered for the Kwara state government.
"This recovery is from suspected Kwara state treasury looters. The suspects allegedly misappropriated landed properties of Harmony Holdings while others diverted funds meant for micro small and medium enterprises credit scheme. The suspects cut across political office holders, traditional rulers and top civil servants," he said.
He added that he was mandated by the acting chairman of the Commission, Ibrahim Magu to present a draft for the recovered fund, while assuring of the agency's steadfastness in ridding the state of all acts of corruption and other economic crimes.
In his response, Governor Abdulrazaq thanked the EFCC and disclosed that the cash will be used for the social investment programme in the state to lift poor people out of poverty.
"We are overwhelmed because history is being made in Kwara state with the return of our monies recovered by the EFCC especially now that there are many projects to embark on.
"As we promised to replicate the federal government social investment programmes, this cash would be used for that programme and we will make our people realise that the seed money for social investment programme before we came into power was also recovered.
"We would let our people know that it is the money realised by the EFCC we are giving them so that they can pay back when they get the loan. It will help to lift thousands of people out of poverty," he said.
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