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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'IF HE WERE IN CHINA, EMEFIELE WORLD FACE FIRING SQUAD '- BAYO ONANUGA. (PHOTO).

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‘If he were in China, Emefiele would face firing squad’ – Bayo Onanuga

The Presidency has said the immediate past Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, would have faced a firing squad if he were from China.
President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, said Emefiele and his gangs committed egregious misappropriation that would not be allowed in China.
Onanuga was reacting to the Special Investigation on CBN and Related Entities, Chargeable Offences report.
Jim Obazee’s report indicted Emefiele of misappropriating funds while he was CBN governor.
The report claimed that the former CBN governor opened bank accounts without the approval of the apex bank’s Board of Directors and Investment Committee.
According to the report, Emefiele illegally lodged billions of naira in about 593 bank accounts in the United States, United Kingdom, and China.
Obazee disclosed that Emefiele deposited £543,482,213 in fixed deposits in UK banks alone without authorisation
Posting on X, Onanuga wrote: “If Godwin Emefiele and his gang had committed these egregious misappropriations in China, they will by now be facing the firing squad for high treason.”


 

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