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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FG ANNOUNCES N5BN TO EACH STATE AS PALLIATIVES. (PHOTO).

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FG Announces N5bn To Each State As palliatives

Federal Government has announced N5billion palliative to each state and the Federal Capital Territory (FCT), to cushion the effect of fuel subsidy removal.

Borno State Governor Babagana Zulum made the announcement during an interactive session with State House correspondents in Abuja on Thursday.

Zulum outlined some of the issues discussed during the National Economic Council (NEC) meeting on Thursday, led by Vice President, Kashim Shettima.

The Governors of the 36 states of the federation, Ministers of the Federal Capital Territory (FCT) and the Governor of the Central Bank of Nigeria (CBN) and the Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPCL are all members of the NEC.

The Federation’s financial situation, general difficulties from states, and palliatives aimed at mitigating the unpleasant impacts of the termination of fuel subsidies.

The event was attended by Abdulrahman Abdulrazak (Kwara), Hope Uzodinma (Imo), Inuwa Yahya (Gombe) Dauda Lawal (Zamfara), Dr. Alex Otti (Abia), Babajide Sanwo-Olu (Lagos) and Ademola Adeleke (Osun) and other Governors.

Deputy Governors of Katsina, Rivers, Yobe, Adamawa, Kano, Kebbi were also at the meeting.

 

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