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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FRENCH SUPERMARKET CARREFOUR PULLS PEPSICO PRODUCTS OVER 'UNACCEPTABLE PRICE INCREASES '.(PHOTO).

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French supermarket Carrefour pulls Pepsico products over 'unacceptable price increases'
Supermarket chain Carrefour has stopped selling Doritos, Pepsi and other Pepsico brands at its stores in France, Belgium, Italy and Spain amidst a dispute over price hikes, an industry source said Friday. 

We no longer sell this brand due to unacceptable price increases," say tags on shelves in Carrefour's French stores where the Pepsico products once stood. 

The source said the move also affected stores in Belgium, Italy and Spain.

It means consumers will no longer be able to find the iconic products alongside PepsiCo names such as Lay's potato chips, Lipton tea, Quaker Cereals and 7Up.

French retailers are locked in annual negotiations with big food industry firms on prices and other conditions regarding their sale in supermarkets.

"We've been in discussion with Carrefour for many months and we will continue to engage in good faith in order to try to ensure that our products are available," a PepsiCo spokeswoman said, declining to comment further on the talks.

Retailers say they are under pressure from food industry firms to raise prices.

Pepsi's main rival, Coca-Cola, said in November is was seeking to raise its prices an average of 7 percent.

PepsiCo reported in October its sales so far in 2023 had risen by 9 percent on slightly lower food sales and steady beverage sales, an indication it has also raised prices.

It said it expects to boost profits by 13 percent in 2023 and return around $7.7 billion to shareholders in dividends and share buybacks



 

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