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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CHINA PROMISES INFRASTRUCTURE DEVELOPMENT IN NIGERIA. (PHOTO).

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China promises Infrastructure development in Nigeria

Nigeria and China have expressed the desire to expand trade and economic cooperation, as Nigeria wants increased participation in China’s Belt and Road Initiative.

The Belt and Road initiative is a strategy initiated by China that seeks to connect Asia with Africa and Europe via land and maritime networks, with the aim of improving regional integration, increasing trade and stimulating economic growth.

In a meeting with Nigeria’s Foreign Affairs Minister, Ambassador Yusuf Tugga, the Director-General of the Department of African Affairs, MFA, China, Mr Wu Peng and , China reaffirmed its commitment to Nigeria’s infrastructure development and economic growth.

China lauded its existing involvement in major Nigerian projects, emphasizing its recent loan to the railway project.

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar who applauded China’s involvement in Nigeria’s infrastructure development, says is in line with the cornerstone of President Bola Tinubu’s development agenda.

The Chinese delegation promised to support Nigeria’s industrialization and value-added manufacturing, particularly, in job creation and local economic empowerment towards deeper economic integration.

On global politics, China pledged its support for Nigeria’s aspirations on the global stage, backing Nigeria’s call for increased African representation in the United Nations Security Council.



 

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