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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N4.1B PROPERTY FRAUD: EFCC RECOVERS, HANDS OVER 324 HOUSES TO KANO PENSIONERS. (PHOTO). #PRESS RELEASE.

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 N4.1billion Property Fraud:  EFCC Recovers, Hands over 324 Houses to Kano Pensioners

 

The Abuja Zonal Command of the Economic and Financial Crimes Commission , EFCC, has handed over documents of properties and 324 houses recovered for Kano state pensioners to them.


The handing over of the houses, occasioned by a final forfeiture order granted by Justice I.E. Ekwo of the Federal High Court sitting Abuja, was a result of successful investigations carried out by the Commission over a N4.1billion Pension Trust Fund contributed by the pensioners to own houses, which was fraudulently denied them by two successive administrations in Kano State.


The Commission investigated a petition by Concerned Kano State Workers and Pensioners of alleged misappropriation of pension funds in the state. Findings by the EFCC showed that the state government entered into a tripartite agreement with the Kano State Pension Trust Fund to build housing estates for an aggregate sum of N41billion (Forty One Billion Naira), out of which the Pension Trust Fund was to contribute N4.1billion (Four Billion One Hundred Million Naira).


 However, the contribution of the pensioners was used to build the houses in three estates located in Sheikh Ja’afar Mahmud Adam Bandirawo city, Sheikh Nasiru Kabara (Amana) city and Sheikh Khalifa Ishaq Rabiu city,  all in Kano state and two former governors of the state fraudulently discounted and sold the houses to their cronies and associates,  leaving the pension trustees with low budget and uncompleted houses. The EFCC stepped in and upon completion of investigation,  filed for and acquired a final forfeiture order of the 324 properties to the Kano State Pension Fund Trustees.

 

While handing over the documents of  the 324 properties worth N4.1billion to the pensioners on Monday, March18, 2024,  the Abuja Zonal Commander of the EFCC,  Assistant Commander of the EFCC,  ACE I Adeniyi Adebayo assured that the EFCC would continue to do its best to rid the nation of fraudulent practices.


Representatives of the Kano State Pension Board, Alhaji Hassan Muhammed Aminu,  Kubra Ahmad Bichi and Salisu Yakubu Abubakar, who received the documents on behalf of the workers and pensioners,  expressed  delight  and joy with the EFCC for  assisting them in recovering their houses.

 

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