LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

-
Image
 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
Post a Comment

NAIRA FALLS TO N1200/$ IN PARALLEL MARKET, GAINS 11% IN NAFEM. (PHOTO).

-


Naira falls to N1200/$ in parallel market, gains 11% in NAFEM

The naira depreciated yesterday to N1,1200 per dollar in the parallel market from N1,172 per dollar on Wednesday.

However, the naira yesterday appreciated to N843.07 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N843.07 per dollar from N951.22 per dollar on Wednesday, indicating 11 percent or N108.15 appreciation for the naira.

As a result, the gap between the official and parallel market exchange rates widened to N356.93 per dollar yesterday from N220.78 per dollar on Wednesday.

Mr. Yakubu Ahmed, a black market trader said high demand for dollars still persists despite traders’ anticipation of a positive change in the trend of the foreign exchange rate.

“There is still high demand for dollars but little access to it. I sold a dollar today for N1,200 and bought for N1,180.  

“Though we anticipate a positive change from the current trend of depreciation of the naira.

“But most traders are still worried that the naira might be in a falling trend for a long period due to decline in foreign exchange inflows which is also affecting the official market.”

 

Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma Automobil
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).

-
Image
  SSANU, NASU threaten strike over withheld salaries The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Educational and Associated Institutions have threatened to disrupt industrial peace in universities should the government fail to release the withheld salaries of members. The salaries were seized by the administration of former President Muhammadu Buhari during their strike in 2022. The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff. The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released. Earlier, the unions
Read more