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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REPS PANEL HOSTS EFCC ON BUDGET DEFENCE.{PHOTOS}.#PRESS RELEASE.

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The House Committee on Economic and Financial Crimes on Wednesday hosted the Economic and Financial Crimes Commission (EFCC) at a budget defence session.
Led by its chairman, Rep. Abdullahi Ibrahim Dutse, the Committee observed that properties and recovered assets were omitted from the documents presented by the Acting Chairman of the commission, Mohammed Umar Abba.
The Committee sought to know the level of capital funds released so far and the outstanding under the 2020 Budget.
Also, the Committee said it would draw attention to the challenges faced by commission for the House to intervene through the budget process.
The acting EFCC chairman, Abba, in his presentation, said there is an increase of N4.727 billion in the 2021 budget estimates of the commission from the 2020 Budget.
He said the procurement process under the 2020 Appropriation is on going and that the fund will be utilized.
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