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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WE HAVE CREATED A FAVOURABLE INVESTMENT CLIMATE FOR RIVERS STATE --GOVERNOR WIKE AS HE COMMISSIONS GLOBUS BANK.{PHOTOS}.#PRESS RELEASE.

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    Rivers State Governor, Nyesom Ezenwo Wike has declared that his administration has fundamentally reduced cases of multiple taxations, in order to encourage private investors.
Governor Wike also stated that his administration has eliminated instances of harassment of businesses operating in the state.
He spoke during the commissioning of the Port Harcourt Branch of Globus Bank on Thursday.
He said: "We have stopped harassment of businesses and multiple taxations in the State.
"As a result, several businessmen are trooping to the state. We have created the right environment for investors to operate."
Governor Wike stated that the investments of the State Government in the security sector have paid off, as the state has been declared safe for investments by the United States Embassy in Nigeria.
He urged the new bank to offer employment to qualified Rivers people. He said that is the only way that Rivers State Government will support the institution.
"I am only willing to do business with you if Rivers people are employed and given prominent placements in the bank", he said
In his remarks, the Managing Director of Globus Bank, Mr. Elias Igbinakenzua said the presence of the bank in Rivers State shows the economic importance of the State.
He said that as the second-largest economy in the country with 21 percent of the nation's crude oil, the bank resolved to open its second branch in Rivers State.
He stated that the Rivers State Government has improved the investment climate of the State by encouraging private investors.
"I urge the government and people of Rivers State to support the new Bank because it will help in driving the empowerment of Rivers people ", he said.
The Managing Director of Globus Bank noted that the bank will work towards improving the economy of the State.
Simeon Nwakaudu,
Special Assistant to the Rivers State Governor, Electronic Media.
19th December 2019.
More photos below.
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