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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NIGER DELTA STATES SECURE $200M WORLD BANK LOANS TO CREATE JOBS.(PHOTO).

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Niger Delta states secure $200m World Bank loans to create jobs

26 December 2022 

Four Niger Delta states have accessed $200 million loans and another $78.4 million grant from the European Union to create jobs.

Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, said his ministry facilitated the loans.

The funds were released to Bayelsa, Delta, Edo and Rivers states under the State Employment and Expenditure for Results (SEEFOR) Project.

Agba said: “The Project involved a concessionary interest-free loan of US$200 million from the World Bank with a grant element of about US$78.4 million from the European Union. It was aimed at enhancing opportunities for employment and access to socio-economic services, while improving public expenditure management systems in the participating States.

“The State Employment and Expenditure for Results (SEEFOR) Project (2014-2020) actually began before the inception of our administration but ended two years after I was appointed Minister of State for Budget and National Planning.

“SEEFOR was a World Bank-funded Project in partnership with the European Union (EU), designed for four (4) Niger Delta States of Bayelsa, Delta, Edo and Rivers,” he added.

On the National Development Plan (NDP), Prince Agba said the Federal Government was considering “Legislative imperatives of the NDP 2021-2025 to ensure continuity of the plan and remove the binding constraints militating against the private sector participation”.

The proposed new laws he said “contains 18 laws and 10 policies and a committee is currently working with a legal firm on this.” (The Nation)


 

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