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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ICP CO-OPERATIVE DECLARES N46M PROFIT.(PHOTOS).#PRESS RELEASE.

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ICPC Co-operative declares N46M Profit

The ICPC Staff Multi-Purpose Co-operative Society has declared over N46M profit for appropriation in the Co-operative account. 

The announcement was made during the 12th Annual General Meeting (AGM) of the Co-operative Society which was held at the ICPC headquarters recently by the Audit Committee. 
  
Speaking during the event, the ICPC Chairman, Prof. Bolaji Owasanoye, who was represented by the Director of Administration and Human Resource Department, Dr. Bala Mohammed, commended the society for their achievements so far and added that he believed more goals and objectives will be met in due course. 

Delivering his presentation at the meeting, the President of the Co-operative Society, Barrister Joshua Wakili listed the achievements of the current executive council to include the creation of some committees to harness the felt needs of cooperators viz Investment, Welfare, Education and Economic committees, a permanent office for the Co-operative, the deployment of the Sure Thrift platform, organizing a ground-breaking ceremony for the Housing Estate in Kagini as well as the establishment of mini mart with a new POS system. 

He further added that the main focus, going forward, will be revamping the fuel dump to reduce hardship on staff and a 50% increase in the salaries of the secretariat staff to reflect the minimum wage. 

Presenting the financial report at the occasion, the Auditor, Mr. Daramola Olamide, reported the sum of N46,387,533.86 for appropriation, and that N20,874,490.24 being 45% of appropriation surplus for the year under review, was recommended for payment as dividend. 

The invited guests from NDIC and EFCC Co-operative societies commended ICPC’s Society for their achievements so far.
One more photo below. 

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