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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NIGERIAN GOVT REOPENS SAHAD STORES. (PHOTO).

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 Nigerian govt reopens Sahad Stores


The Federal Competition and Consumer Protection Commission, FCCPC, has reopened the head office of Sahad Supermarket, previously sealed for customer extortion and lack of transparency in price fixing.


In a statement on Saturday in Abuja, the Acting Executive Vice Chairman of FCCPC, Dr Adamu Abdullahi, said the reopening followed a mutual understanding and commitment from the store to implement transparent pricing practices.


According to him, the commission was aware that similar practices might be happening at other Fast-Moving Consumer Goods, FMCG, outlets nationwide.


He admonished supermarkets or outlets engaging in customer extortion to desist from such practices immediately to avoid consequences.


“Businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions, especially during challenging economic times.


“The FCCPC remains committed to combating all forms of exploitative or misleading practices that undermine consumer rights,” he said.


The commission had sealed the supermarket on Friday for customer extortion and lack of transparency in prices.

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