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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WIKE BLAMES TAX EVADERS FOR DECLINING IGR IN FCT.(PHOTO).

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Wike Blames Tax Evaders For Declining IGR In FCT

The Minister of FCT, Nyesom Wike says the Internally Generated Revenue (IGR) of the Federal Capital Territory Administration will hence forth be tied to the execution of certain projects.

The Minister while speaking on some reviving projects in Abuja said IGR would enable the administration complete projects without further delay or reliance on FG’s budgetary allocation.

He therefore advised all those evading the payment of ground rents and taxes accruable to FCTA to do that without delay, emphasising that the Administration will not hesitate to step on the toes of defaulters, no matter how highly placed they are.

According to the FCT Minister, it is worrisome that the elites are mostly behind the actions frustrating FCT Administration’s efforts to restore the Abuja master plan.

Mr Wike also revealed that the administration is burdened with debt (garnishee order) to the tune of $800 million against the administration in court, hence, the need to beam searchlight on IGR to fund projects, in view of the dwindling National budgetary allocation.

Speaking on the impact of the order on the economy, the FCT Minister said the debt was enough to fund the budget of the FCTA for 10 years.

“The place is just corrupt… How do we survive it? Then you now said that we have come and that we should do miracles, which miracle? Where will I get the money to go and pay $800million?” Wike lamented.

On the N825 million compensation for indigenes that owns the lands mapped out for the construction of Abuja airport second runway, the Minister ordered the Permanent Secretary to pay up the money before the week runs out to fast track the runway construction process.

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