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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PRESIDENT BUHARI ASSENTS BILL AMENDING THE DEEP OFFSHORE ACT TODAY.{PHOTO}.

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    President Buhari assents to Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act on 4th Nov 2019
Deep Offshore Bill 1: President Buhari this afternoon assented to the Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act, recently passed into law by the National Assembly. The amended Bill will generate at least 500 million US dollars additional revenue for the Federal Government in 2020, and over one billion dollars from 2021. With him is Chief of Staff Abba Kyari.
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