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

RWANDA LAUNCHED TWO SMARTPHONES YESTERDAY WHICH IS THE FIRST IN AFRICA.{PHOTOS}.

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      Rwanda’s Mara Group launched two smartphones on Monday, describing them as the first “Made in Africa” models and giving a boost to the country’s ambitions to become a regional technology hub.The Mara X and Mara Z will use Google’s Android operating system and cost 175,750 Rwandan francs ($190) and 120,250 Rwandan francs ($130) respectively.They will compete with Samsung, whose cheapest smartphone costs 50,000 Rwandan francs ($54), and non-branded phones at 35,000 Rwandan francs ($37). Mara Group CEO Ashish Thakkar said it was targeting customers willing to pay more for quality.“This is the first smartphone manufacturer in Africa,” Thakkar told Reuters after touring the company alongside Rwanda’s President Paul Kagame. Companies assemble smartphones in Egypt, Ethiopia, Algeria and South Africa, but import the components, he said.“We are actually the first who are doing manufacturing. We are making the motherboards, we are making the sub-boards during the entire process,” he said. “There are over 1,000 pieces per phone.” Thakkar said the plant had cost $24 million and could make 1,200 phones per day.Mara Group hopes to profit from the African Continental Free Trade Agreement, a pact aimed at forming a 55-nation trade bloc, to boost sales across Africa, Thakkar said.The agreement is due to begin trading in July next year, aiming to unite 1.3 billion people and create a $3.4 trillion economic bloc. But it is still in the very early stages and no timelines have been agreed for abolishing tariffs.Kagame said he hoped the phone would increase Rwanda’s smartphone usage, currently at around 15%.“Rwandans are already using smartphones but we want to enable many more. The introduction of Mara phones will put smartphones ownership within reach of more Rwandans,” Kagame said.More photos below.
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