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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CBN BANS CRYTO-CURRENCIES IN NIGERIA.{PHOTO}.#PRESS RELEASE.

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CENTRAL BANK OF NIGERIA
Barking Subpoena Department Centa use Strict PM 0107 Gan Ab
BSOD ORIGINLAB 14/001
February 5, 2021
LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS AND OTHER FINANCIAL INSTITUTIONS
The Central of Bank of Nigorta's (CBN) circular of January 12, 2017 ref FPRDIR/GENOIR 08/010 which cautioned Deposit Money Banks (DMBA). Non Bank Financial Institutions (NBFI. Other Financial Institutions (OFis) and members of the pubic on the risk associated with transactions in cryptocurrency refers.
Further to earlier regulatory directives on the subject the Bank hereby wishes to remind regulated Institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges in prohibited.
Accordingly, all DBMS. NBFCS and OFis ar directed to identity persons and/or entities transacting in or operating cryptocurrency changes within their systems and ensure that such accounts are closed immediately.
Plande note that breaches of this directive will attract severe regulatory sanctions.
This letter is with immediate effect.
Yours faithfully
BELLO HASSAN
DIRECTOR OF BANKING SUPERVISION
MUSALOH

DİRECTOR PAYMENTS SYSTEM MANAGEMENT DEPARTMENT.

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