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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$9.6B P&ID FRAUD: EFCC SEEKS ARREST OF BRITON,JAMES NOLAN.(PHOTO).#PRESS RELEASE.

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$9.6b P&ID Fraud: EFCC Seeks Arrest of Briton, James Nolan

The EFCC on Thursday, October 13, 2022, made a tripartite application before Justice D.U. Okorowo of the Federal High Court sitting in Abuja, praying the court to issue a bench warrant for the arrest of a Briton, James Richard Nolan.

Nolan, a Director in the Process and Industrial Development Limited, P&ID is facing a $9.6billion money laundering trial alongside Goidel Resources and ICIL Limited.

Counsel for the prosecution, E. E. Iheanacho informed the court that the matter was for continuation of trial.  He said he had his witness in court and ready to proceed “but apparently the proceedings of today will be halt because of the third defendant's absence”.

In his tripartite prayer before the court, Iheanacho urged the court to revoke the bail of the defendant, issue a bench warrant and direct his surety to show cause why the bail bond which he entered into should not be forfeited.



 

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