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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NBA COMMENDS EFCC, PLEDGES SUPPORT. (PHOTOS).#PRESS RELEASE.

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NBA Commends EFCC, Pledges Support


The Nigerian Bar Association, NBA, has commended the Economic and Financial Crimes Commission, EFCC, for its good works in fighting economic and financial crimes.


The Association gave the commendation on Thursday, June 8, 2023 when the chairman of the Abuja branch, Afam O. Okeke, led a delegation to the corporate headquarters of the Commission, Jabi, Abuja.


According to Okeke, ‘’We in the NBA Abuja branch, commends the Commission on the work you are doing to sanitize the society on the issue of financial crimes; and fighting corruption is a thing we must all key into for the benefit of the generality of the citizens of the country if we are able to get it right’’.   


The Association also pledged to support the Commission in its fight against corruption with critical inputs whenever such is demanded.


The Association however solicited the Commission’s intervention in resolving the lingering regulatory issues between its members and the Special Control Unit Against Money Laundering, SCUML.


 In his response, the Chairman of the EFCC, Abdulrasheed Bawa thanked them for appreciating the contributions of the Commission, assuring that the EFCC was committed to partnering with the bar in furtherance of the fight against corruption.


Bawa who spoke through, the Director, Legal and Prosecution, Sylvanus Tahir, SAN, noted that the activities of the SCUML was not targeted at any specific trade or professional group, but an honest attempt at enforcing extant regulations in line with global anti-money laundering imperatives in the aftermath of the 2001 terrorist attack in the United States.


‘’I believe with greatest respect, the issue of SCUML has been misunderstood. Nigeria is not an Island to itself, we belong to the comity of nations, and I am sure that there is none of us here that does not know about Financial Action Task Force, FATF or the Egmont Group which is a congregation of states that have signed international protocols and treaties which is binding on all member states, and Nigeria is not an exception”,


He explained that flagging the accounts of Designated Non-financial Businesses and Professions was not discriminatory, but an attempt by regulatory and law enforcement entities to ensure that the organisations are not used as conduits for laundering proceeds of illicit activities.

More photos below. 


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