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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EMEFIELE WEEPS, DODGES CAMERA AS ARRAIGNMENT FOR FRAUD STALLS. (PHOTOS).

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Emefiele weeps, dodges camera as arraignment for fraud stalls


The suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele wept in Court on Thursday after the High court of the Federal Capital Territory adjourned his arraignment to August 23, 2023.


The Nation reports that the case was stalled due to the absence of another defendant, Sa’adatu Yaro, in a corruption and conspiracy case brought against them by the Federal government.


Emefiele was seen weeping after the adjournment, while being consoled by some of his lawyers.


Emefiele, Yaro and a firm, known as April 1616 Investment Ltd, were accused of engaging in conspiracy and procurement fraud, among others.


He is also accused of conferring corrupt advantages on his associates, including Yaro, said to be a Director in April 1616 to the tune of N6.9 billion.


The accused were taken before the vacation judge, Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court.


Emefiele was brought to court by officials of the Department of State Services (DSS).


Immediately after the proceedings, Emefiele was returned to operatives of the Department of the State Service (DSS) who brought him to court under heavy security.

More photos below. 





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