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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SP HINDUJA, BILLIONAIRE HEAD OF BRITAIN'S RICHEST FAMILY,DIES AT 87.(PHOTO).

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SP Hinduja, billionaire head of Britain's richest family, dies at 87


Srichand Hinduja, the billionaire patriarch of Britain’s richest family and chair of the globe-spanning Hinduja Group conglomerate, has died at the age of 87.


Hinduja, known by his initials SP, was suffering from dementia. His family said he had passed away peacefully on Wednesday morning, May 17.

 

He was chairman of the eponymous business group which owns public companies in India with interests in banking, chemicals, software, and commercial vehicles.

 

Hinduja and his younger brother Gopichand, 83, topped the Sunday Times Rich List in 2022 for a fourth time, with an estimated net worth of 28.5 billion pounds ($36 billion) that includes property worth millions in central London.


“It is with deep sadness that we announce the passing of our father,” Hinduja’s daughters Shanu and Vinoo said in a statement.


“SP was a visionary titan of industry and business, humanitarian and philanthropist … He touched countless lives on his path, and we are forever grateful for the time we cherished with him.”


“Amongst other things, SP will be remembered for his great contributions in bringing India and its culture to the global stage through his work and philanthropic efforts,” Hinduja’s daughters said.

 

The Hinduja Group, which employs 200,000 people across more than 30 countries, was founded in 1914 by Parmanand Deepchand Hinduja, who traded in carpets and dried fruit from Iran before his sons Srichand and Gopichand shifted their base to Britain in the 1970s.

 

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