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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SENATE PROBES PURCHASE OF PRESIDENTIAL YACHT. (PHOTO).

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Senate probes purchase of Presidential Yacht

The Senate Committee on Navy has said it would investigate the circumstances and issues surrounding the controversial Presidential yacht within the next one week.
The Committee chaired by Senator Gbenga Daniel, according to a statement by his media office, said the probe was in response to escalating controversy surrounding the procurement of a yacht.
The primary objective of the probe, according to the statement, is to “uncover the facts, dispel uncertainties, and provide the public with an accurate and comprehensive understanding of the situation.”
Apart from the investigation, the Committee also resolved to visit all naval facilities across the country with a view to prioritizing training and welfare of naval personnel and veterans, while emphasizing the need for improved funding for the Nigerian Navy to perform their critical role in the nation’s economic and security sector.
The Committee further resolved to promote the modernization of the Nigerian Navy’s fleet, enhance its operational capabilities and push for naval research and development agencies.
Since the news of the intended procurement of the Presidential Yacht leaked in the media, it has generated serious controversy with many Nigerians pointing accusing fingers at the presidency for being insensitive.
The uproar over the potential acquisition of the yacht has gained substantial attention since it was first disclosed in the media.
Many Nigerians have voiced their concerns and criticism, with a significant number expressing displeasure about how such a luxury item can find its way into the Supplementary Budget.
Given the conflicting and contradictory reports circulating in the media regarding the yacht’s acquisition, Otunba Daniel, at the helm of the Senate Committee on Navy, has identified the need for a thorough investigation.
Many Nigerians believe that the position of the Senate Committee in this regard signifies a significant step toward transparency and accountability within the government by the senate.

 

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