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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AfDB MOBILIZES $540M FOR NIGERIA TO DEVELOP SPECIAL AGRO-INDUSTRIAL PROCESSING ZONES.(PHOTO).#PRESS RELEASE.

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AfDB MOBILIZES $540M FOR NIGERIA TO DEVELOP SPECIAL AGRO-INDUSTRIAL PROCESSING ZONES

 
The African Development Bank (AfDB) will support Nigeria to develop Special Agro-Industrial Processing Zones, as part of the quest for food security in the country.
 
Dr Akinwumi Adesina, President of the Bank and a former Minister of Agriculture, disclosed this while briefing President Muhammadu Buhari at State House, Abuja, on Tuesday.
 
Said Dr Adesina: “We have decided to mobilize $540 for the program. The African Development Bank has approved a total of $210 million. The Islamic Development Bank, and the International Fund for Agricultural Development (IFAD) have approved $170 million, and $160 million respectively, towards the program.”
 
The AfDB President indicated that the processing zones will initially be rolled out in seven States, including Kano, Ogun, Oyo, Kaduna, Kwara, Imo, Cross River, and the Federal Capital Territory.
 
“I look forward, Your Excellency, to your formal launch of these Special Agro-Industrial Processing Zones, very soon,” Dr Adesina added.
 
President Buhari commended AfDB for being foresighted and proactive about food security on the continent, and Nigeria specifically.
 
Femi Adesina
Special Adviser to the President
(Media and Publicity)
April 27, 2022

 

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