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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COURT HALTS SHARING OF DERIVATION FUNDS TO OIL PRODUCING STATES.(PHOTO).#PRESS RELEASE.

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COURT HALTS SHARING OF DERIVATION FUNDS TO OIL PRODUCING STATES


A Federal High Court sitting in Abuja has ordered the Accountant General of the Federation to immediately halt the distribution of more than One trillion naira due to oil producing states pending the determination of the suit  before it.

The Court, presided over by Justice Ahmed Mohammad in an interim injunction held  that the distribution of the derivation funds without the indices of the Revenue, Mobilization, Allocation and Fiscal Commission (RMAFC) was injurious to the applicant which is the imo state government.

The Imo State Attorney General had in a suit No FHC/ABJ/CE/415/2022, against RMAFC and others challenged the distribution of the said funds without unambiguous indices by RMAFC as provided by in Nigeria's Constitution.

In his submission before the court, counsel to Imo State Government, Chief Olusola Oke argued on the need to protect his client pending the determination of the suit.

After granting the exparte order, Justice Mohammed ordered the Imo State to join other Oil Producing States as respondents to the suit.

He consequently adjoined the matter to June 15, 2022 for hearing of the motion on notice.


 

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