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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I RAN LABEL FOR FOUR YEARS WITHOUT TAKING A DIME FROM MY ARTISTES- DAVIDO. (PHOTO).

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 I ran label for four years without taking a dime from my artistes – Davido


Famous Afrobeats singer, Davido, has said that he ran his record label, DMW for four years without collecting a dime from his artistes.


Davido stated this in an interview with a US media personality, Steve Stoute.


The singer added that as Afrobeats gained global reception, he felt the need to educate them about the business side of the industry after four years.


“You know my label was really more like a family to me. I was young. I was just happy putting my boy on to me, that is what it was really all about for me.


“I ran my label for four years, and I didn’t take one dime from my artistes and I was paying for videos, accommodation and their welfare just because I was happy seeing that my success could rub up on this person, that was money for me.


“But obviously, Afrobeats got to a point now where it is global. So I now have to explain to the artistes these days that this is music business. And you have to spend money to make money,” he said.


Davido record label, DMW was established in 2016, and has served as the home to sensational music talents such as Peruzzi, Dremo, Mayorkun, among others.

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