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

LAWMAKERS BACK USE OF CONCRETE FOR ROAD CONSTRUCTION. (PHOTO).


Lawmakers Back Use Of Concrete For Road Construction

House of Representatives Committee on Works says it will adopt the use of concrete for road construction against the use of asphalt.

The Chairman, Mr Akin Alabi, during the inauguration of the Committee at the National Assembly claimed that the use of asphalt had led to the deplorable state of road infrastructure in the country.

Additionally, Mr Alabi stated that the committee was prepared to provide sufficient supervision of the Federal Ministry of Works and its parastatals, guaranteeing that any money allocated for road building and repair would be worth it.

He observed that with effective oversight, there would be visible transformation in the nation’s road infrastructure.

“Order 8 (B) Rule 109 of the House Rukes gave the House Committee powers to oversight the Ministry of Works and its parastatals and agencies to ensure that there is value for funds expended on road construction and rehabilitation. Some of the agencies that the House Committee would ensure proper oversight include the Office of Surveyor-General of the Federation (OSGOF), Council for the Regulation of Engineering in Nigeria (COREN), School of Surveying Oyo State and the Regional Centre for Training in Aerospace Survey RECTAS amongst others”.

He continued by saying that because of the difficulties facing the road industry, the committee which has representatives from all the 36 States and the Federal Capital Territory FCT needs to be more effective and focused.

Reps Pass Nigeria Audit Service Act
The House of Representatives has passed the Nigeria Audit Service Bill, repealing the outdated Audit Ordinance of 1956.

The new bill establishes the Federal Audit Service and grants additional powers and functions to the Auditor-General of the Federation.

The bill, officially titled the “Federal Audit Service Act, 2023,” aims to bring Nigeria’s audit practices in line with current constitutional provisions and eliminate remnants of the country’s colonial past.

The Majority Leader of the House, Professor Julius Ihonvbere, who moved for the passage of the Bill, emphasized the necessity of the changes to enhance the independence and impartiality of the Federal Audit Board, enabling it to effectively carry out its statutory responsibilities.

Before the passage of this bill, Nigeria was the only country out of the 54 African nations without an audit law, highlighting the urgency to address this gap in the country’s governance framework.

Under the new law, the Federal Audit Service will function as a board rather than a commission.

Following its passage in the House of Representatives, the Nigeria Audit Service Bill will be transmitted to the Senate for concurrence, bringing Nigeria closer to a more robust and modern audit system that promotes transparency and accountability in public financial management.


 

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