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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NNPC 2021 PROFIT: A CLARIFICATION.(PHOTO).#PRESS RELEASE.

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PRESS STATEMENT

NNPC 2021 PROFIT: A CLARIFICATION


On Thursday, 01/06/2023, the Group Chief Executive Officer (GCEO) of NNPC Ltd, Mr. @MKKyari, OFR, appeared on Arise TV's "The Morning Show".

Among the issues the GCEO discussed was the 2021 profit margin.

Inadvertently, N687 trillion was mentioned as the company's Profit after Tax figure as against N674 billion contained in the 2021 Annual Financial Statement.

The accurate Profit after Tax figure for the Year 2021, N674 billion, was communicated to the public via our official Twitter account on 05/10/2022.

Garba Deen Muhammad
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

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