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

BUA GROUP CHAIRMAN, RABIU, DECLINES MEMBERSHIP OF APC COMMITTEE. (PHOTO).


BUA Group chairman, Rabiu, declines membership of APC committee
 
The Chairman of BUA Group, Mr. Abdul Samad Rabiu, has declined his purported appointment as a member of the All Progressives Congress (APC) Standing Committee on Finance.

Several Nigerian national dailies on December 1, 2023, published the appointment of Mr. Rabiu, to a standing committee on finance of the ruling party.

In a statement to clarify his position, as well as that of BUA Group, the Head, Creatives & Visual Identity Mgt, Tim Sogbeinde, appreciated the APC for considering their chairman for such a distinguished role. This acknowledgment, the statement pointed out reflects the recognition of his commitment, and that of BUA Group, to economic prosperity and the development of the nation, Nigeria.

“However, it is important to note that our Chairman, Abdul Samad Rabiu and BUA Group have consistently adopted an apolitical stance over the years. This approach is integral to the nature of our business and aligns with Mr. Rabiu’s focus on fostering economic growth through BUA Group’s initiatives and philanthropic efforts through ASR Africa.

“With respect to this, we wish to inform the publishers, our partners, stakeholders, and the general public that Mr. Rabiu has decided to graciously decline the nomination/appointment. This decision is made in light of the fact that he was not previously consulted regarding his inclusion in the list and his inability to commit time due to his demanding schedule.

“Our Chairman, Abdul Samad Rabiu, is a firm believer in leveraging business acumen and philanthropic activities to drive development and positive societal change, independent of political participation. His primary contributions to Nigeria’s advancement will continue to be through strategic investments in the economy and philanthropy, rather than through political affiliations or roles.”

He however remains committed to supporting governmental policies that foster the desired development as partners in progress.

“We trust this statement provides clarity on the matter and reaffirms our chairman’s dedication to Nigeria’s progress in the roles he is most suited for—those of an entrepreneur, businessman, and philanthropist,” the statement emphasised.

 

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