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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PMB MOURNS FOUNDER OF FCMB, SUBOMI BALOGUN.(PHOTO).#PRESS RELEASE.

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PRESIDENT BUHARI MOURNS FOUNDER OF FCMB, SUBOMI BALOGUN


President Muhammadu Buhari shares in the grief of loss with the business community, particularly banking and investment sector, over the passing of an illustrious citizen, Chief Michael Olasubomi "Subomi" Balogun, 89.
The President condoles with family members, friends, and associates of the revered businessman, whose legacy of kindness and charity stretched into many homes, institutions, and communities, touching lives through education, health, and multiple empowerment opportunities.
President Buhari affirms that Chief Balogun, through foresight, wisdom, and hard work, lived ahead of his time, by starting the First City Merchant Bank in 1983, which has grown over the years, with branches across the country, and working assiduously for the take-off and success of the Nigerian Stock Exchange.
The President notes the outpouring of testimonies on the life and times of the legendary banker, especially his towering influence in grooming many talented leaders in the sector, who had since set up their investment platforms, within and outside the country.
President Buhari prays that the Almighty God will receive the soul of the departed, and comfort all his loved ones.

Femi Adesina
Special Adviser to the President
(Media & Publicity)
May 18, 2023.


 

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