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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CBN DENIES ASKING BANKS TO ACCEPT OLD N500 AND N1000 NOTES.(PHOTO).#PRESS RELEASE

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CBN denies asking banks to accept old N500 and N1000



The Central Bank of Nigeria has denied authorizing the deposit banks to collect the old N500 and N1000 bank

notes.



Thus was contained in a statement by the Director of Corporate Communication of the apex bank Osita Nwanobi and copies made available to newsmen today in Abuja.


He reiterated that in line with President Muhammadu Buhari directives only the N200 notes will be re issued and circulated as legal tender until April 10, 2023.

 

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