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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DELEGATION OF THE NATIONAL ASSEMBLY COMMITTE ON PIB: GOV. UZODIMMA CALLS FOR PROFITABLE CONSTRUCTIVE PARTNERSHIP WITH OIL COMPANIES.{PHOTOS}.#PRESS RELEASE.

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Constructive partnership between he Government and oil companies, the creation of value chains are critical to the value chains of the oil sector in Nigeria.
This is according to the Imo State Governor, Senator Hope Uzodimma as he received Delegation of National Assembly committee members on Petroleum Industry Bill PIB.
In his address, the Governor, Senator Hope Uzodimma expressed worries over the dichotomies, double standards and frauds existent only in the Nigerian oil industry which he stated should acts as catalysts for the National Assembly to look into the operations and management of the Oil and Gas Industry in Nigeria.
Governor Uzodimma further disclosed the need of the Petroleum Industry Bill which includes making laws for Oil Companies to refine at least 20% of the oil for local use or sign refinery agreements with local refinery owners which will make the oil for local use cheaper and also create more employment for our own.
“We must be able to have a constructive partnership where local oil companies can take over National Oil companies” Uzodimma stated.
He also suggested the amendment of the Petroleum Industry Bill (PIB) in the area of reducing cash transactions by Oil Companies to include Social facilities to develop host companies in their budget and proposals.
“Host communities should have good roads and even Fuel for their cars and local use.” Uzodimma stated.
The National Assembly delegation led by the Chairman Senator Albert Bassey Akpan representing Akwa-Ibom North East Senatorial District.
Senator Akpan who is the Chairman of the Senate Committee on Petroluem Upstream revealed that the purpose of the visit is to integrate the interest of host communities in the draft of the Petroluem Industry Bill which he described as paramount.
According to Senator Akpan, the legislation will not be complete without the inputs of host communities, their peculiarities and interests.
Going further, the Senator said,
" We want to have laws that are clear and apt, and to make sure that there is peace and harmony so as to create an enabling environment for business to thrive"

Members of the visiting delegation includes, Senator Patrick Ifeanyi Ubah, Vice Chairman Petroluem Upstream, and Senator Barry Mpigi representing Rivers South East Senatorial District.More photos below.

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