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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AJAY BANGA EMERGES NEW WORLD BANK PRESIDENT. (PHOTO).

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 Ajay Banga Emerges New World Bank President

May 3, 2023
    
The World Bank has announced the appointment of Ajay Banga as its next president, taking over from David Malpass on June 2.

The development lender has high hopes for Banga, who will lead the institution during a critical time as it seeks to improve its response to climate change.

Following a board vote, the World Bank released a statement expressing confidence in Banga’s leadership, adding that it looks forward to working with him on the organisation’s evolution process.

“The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process,” the bank wrote.

Banga has been appointed for a five-year term.


 

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