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

TARABA: PUBLIC HEARING OF THE BILL FOR TEA AND COFEE BILL BY SEN. YUSUF-AHMAD ABUBAKAR.{PHOTOS}.#PRESS RELEASE



Taraba: Public hearing of the bill for tea and coffee bill by Sen. Yusuf A Yusuf - Ahmad Abubakar


A successful public hearing for the establishment of tea and coffee council which may have it headquarters in Gembu Sardauna local area of taraba when successful.


Tea and coffee are twin beverages Nigerians delightfully consume in high quantities. The social and health benefits and importance of these beverages are prime factors in the daily lives of Nigerians. In the same vein, the contribution of tea and coffee to Nigeria’s economy is underscored by the export quantities of these twin beverages, hence earning Nigeria a chunk of it’s foreign exchange in significant figures.


The retail value of coffee occasioned by Nigeria’s local consumption, but reached a whooping, #11.02 billion ($29 million) Last year 2020, and it’s projected to hover around #15.5 billion ($31 million) this year but only abiy 5 percent of this Quantity of consumption is locally, while Nigeria’s coffee production capacity is projected at about eight times its total local consumption.


Nigeria currently produces 1,640 tones of tea which accounts for just about 10 percent of its total annual local consumption of some #628 billion ($1.3 million) worth of tea. The rest of 99 percent is imported. Nigeria’s tea production capacity is projected at about six times it’s current local consumption, meaning that Nigeria has the capability to export tea to more than 159 countries currently in active consumption of commercial tea.

Tea and coffee aren’t regulated and that is why the Nigeria suffers economic malady . Once again it is important to remind you that tea and coffee businesses are currently not regulated in Nigeria.


Thus to the rescue, senator Yusuf A Yusuf, representing taraba central senatorial district came up with a bill for the regulation of tea and coffee industries and their respective trades with and in Nigeria. Senator Yusuf’s tea and coffee bill has currently gone through it’s mandatory first and second readings in the senate, after which it was referred to it’s relevant Senate committee for further legislative action. And today the bill's public hearing is successful today at the senate.

Photo credit- Maryam Ardo.

More photos below.

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