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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WAR IN UKRAINE BOOSTS DEPRESSED RUSSIAN AS VLADIMIR PUTIN ANNOUNCED HIS CANDIDACY FOR A 5TH PRESIDENTIAL TERN.(PHOTO).

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War in Ukraine boosts depressed Russian regions amid defence sector boom
The Kremlin appears to be preparing for a long, drawn-out war in Ukraine by boosting defence spending by 70 percent next year, a move that promises to benefit depressed Russian regions and sectors related to the war effort

During a highly choreographed awards ceremony for army personnel in the gilded St George’s Hall at the Kremlin, Russian President Vladimir Putin announced his candidacy for a fifth presidential term in the 2024 elections.

The announcement came as Russia's full-scale invasion in Ukraine approaches its second anniversary.

“They (the Russian government) initially expected this war to be short,” said Andrei Yakovlev, an economist from the Davis Center for Russian and Eurasian Studies at Harvard University.

 

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