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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SENEGAL'S NEW PRESIDENT ORDERS 'ACTION PLAN' TO RESET ECONOMY.(PHOTO).

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 Senegal's new president orders 'action plan' to reset economy


The West African country is battling rising debt and inflation with unemployment rate is around 20%


Senegalese President Bassirou Diomaye Faye has ordered his prime minister to draw up an urgent "action plan" to strengthen the country's flagging economy and finances, his office said in a statement.


The 44-year-old swept to victory in an election last month on a promise of radical reform, becoming the country's youngest president despite never having held elected office.


On Tuesday he gave his prime minister and former mentor Ousmane Sonko until the end of the month to draw up an "action plan", said the statement, released after Faye's first cabinet meeting.


He ordered Sonko to "carry out a general review of programmes and plans" and report on "the general situation of the public finances", international cooperation and public-private partnerships, it said.

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