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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PROGRESSIVE POLICIES, PRIVATE SECTOR KEY TO FDI INFLOW- MINISTER. (PHOTO)

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 Progressive policies, private sector key to FDI inflow-Minister


Federal Ministry of Industry, Trade and Investment says the review of the recently enacted Expatriate Employment Levy marks a milestone in government-private sector relations.


The Minister Dr. Doris Uzoka-Anite, stated this when the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, industry stakeholders, met with her alongside the Minister of Interior, Olubunmi Tunji-Ojo during the just concluded Nigeria- Qatar investment Forum in Doha.


Dr. Doris Uzoka-Anite who underscored the essence of private sector participation, and emphasized the need for policies that would allow foreign direct investment to continue to flow into the country without obstacles.


According to the minister, the meeting agreed that the implementation of the Expatriate Employment Levy will pause for additional consultations with crucial stakeholders,


and a joint committee established to review the Expatriate Employment Levy policy and the initial rollout of the policy be deferred.


she said government’s openness to dialogue and its decisive action in response to feedback from the business community reflects its dedication to nurturing an attractive investment climate for both local and international stakeholders.


The organised private sector representatives and their associates pledged continued collaboration with the government to ensure policy alignment with Nigeria’s economic aspirations, reinforcing the nation’s position as a desirable investment hub.


The EEL, initiated by President Tinubu, was designed to encourage skills transfer and facilitate balanced economic and social development.

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