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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ISWAP DISTRIBUTES OLD NAIRA NOTES TO PASSENGERS ON BORNO HIGHWAY. (PHOTO).

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ISWAP Distributes Old Naira Notes To Passengers On Borno Highway

Suspected members of the Islamic State of West Africa Province (ISWAP) have distributed huge amounts of old notes to scores of commuters in the Lake Chad Basin ahead of the deadline of the Central Bank of Nigeria’s (CBN) cashless policy, sources have said.

Our correspondent gathered that the incident occurred after Mairari village, along the Maiduguri/Monguno highway on Saturday in Guzamala LGA of Borno State.

A source told the Daily Trust in Maiduguri that the ISWAP members were dressed in military camouflage and drove two gun trucks.

A resident, Bakura Ibrahim, said the insurgents positioned themselves under a tree and stood by the roadside with bags of old naira notes.

“We left Monguno at about 12 noon. As we approached Mairari, there were no existing checkpoints in the area; we were apprehensive.

“They stopped us and asked if we were going to Maiduguri, then they started giving each person 100,000 old naira notes, but we could not believe it. They gave each occupant of the Golf Volkswagen,” Bakura said.

Another source added, “The group simply told us, “If you think you can go to their banks and change it to new naira, go and do so; may Allah make it beneficial to you.”



 

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