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 ORDERS BANKS TO OPEN SATURDAYS AND SUNDAYS+ EVACUATES BANKNOTES TO DEPOSIT MONEY BANKS. (PHOTOS).#PRESS RELEASE.

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Central Bank of Nigeria evacuates banknotes to Deposit Money Banks. 




The Central Bank of Nigeria (CBN) has confirmed the

evacuation of banknotes from its vaults to commercial

banks across the country as part of a coordinated

effort to ease the circulation of banknotes of various

denominations. The CBN has also directed all

commercial banks to open for operation on Saturdays

and Sundays.



The Acting Director, Corporate Communications
Department of the CBN, Dr. Isa AbdulMumin, disclosed
this in Abuja, on Friday, March 24, 2023, stating that a
substantial amount of money, in various denominations,

had been received by the commercial banks for onward

circulation to their respective customers.

According to him, the CBN had directed all banks to load
their Automated Teller Machines (ATMs) as well as
conduct physical operations in the banking halls
through the weekends.



"Branches of commercial banks will operate on Saturdays
and Sundays to attend to customers' cash needs," he
noted, adding that the Governor of the Central Bank of
Nigeria, Mr. Godwin Emefiele, would personally lead
teams to monitor the level of compliance by the banks in
various locations across the country.

He, therefore, urged Nigerians to be patient as the
current situation would ease soon with the injection of

more banknotes into circulation.
More photos below. 



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