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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2023 BUDGET: GOV. ORTOM PRESENTS N179.7BN PROPOSAL TO ASSEMBLY.(PHOTOS).

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2023 BUDGET: GOV. ORTOM PRESENTS N179.7BN PROPOSAL TO ASSEMBLY



Governor Samuel Ortom of Benue State has presented a budget of N179.7 billion proposal for the 2023 to the Benue State House of Assembly for consideration and passage.

Christened Budget of Consolidation and Transition, the estimate is made of N106.1billion or 51.1 percent of the estimate as recurrent expenditure while the sum of N73.5billion representing 48.9 percent of the budget is for capital expenditure.

The 2023 fiscal estimate is N24.1billion higher than the 2022 budget of N155.6billion.

Presenting the estimates, Governor Ortom explained that the “Recurrent Expenditure is made up of the sum of N48.5billion or 27 percent Personnel Cost while N57.6billion or 32.1 percent represents Overhead Cost. The Recurrent Expenditure Estimates focuses on our obligation to faithfully pay the salaries of our workers and meet our obligations under our new Pension Laws and to our retired workers. We have also essential overheads expenditure, with emphasis on items of that relevance.”

Giving a breakdown of the sources of revenue accruals to the state in the fiscal year, the Governor said, “The amount is made up of Federation Account Allocation Committee, FAAC, Statutory Revenue of N71.3billion or 39.7 percent of Aggregate Revenue Estimates and the sum of N30billion or 16.7percent of the Aggregate Revenue from independent sources.

“There is a provision of N78.3billion or 43.6 percent of the aggregate revenue from other sources including Aids, Grants and Loans.”

Receiving the estimate on behalf of members, the Speaker, Titus Uba assured that the House would ensure speedy passage.

More photos below. 




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