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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AfDB’S HISTORIC CAPITAL INCREASE, A VOTE OF CONFIDENCE IN YOUR LEADERSHIP – PRESIDENT BUHARI TELLS AKINWUNMI ADESINA.#PRESS RELEASE.

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     President Muhammadu Buhari congratulates the President of African Development Bank (AfDB), Dr Akinwunmi Adesina, Board of Governors and members of staff on historic increase of its capital from $93 billion to $208 billion, placing the multilateral institution on a stronger pedestal to drive growth and development on the continent.
President Buhari joins shareholders of the Bank and African Heads of State and governments in celebrating the feat, which clearly demonstrates the quality of leadership at the helm of affairs, and the technical expertise that has been steadily pushing reforms for a smart and nimble institution focused on alleviating poverty.
The President felicitates with the leadership of the Bank for numerous reforms undertaken to reposition the institution for current global realities and the peculiar needs of the African continent, commending the visionary policies that have started yielding results in providing electricity, financing and modernizing agriculture, encouraging industrialization, integrating Africa and improving the livelihoods of many.
With the historic approval of $115 billion by the Board of Governors, which will buoy the Bank’s operations and reach, the President extols Dr Adesina for brilliantly and diligently taking the AfDB to new heights of achievements, and inspiring confidence that, indeed, the Sustainable Development Goals (SDGs) and the African Union Agenda 2063 are realisable.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
November 3, 2019.
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