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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COURT JAILS FAKE BDC OPERATOR IN MAIDUGURI. (PHOTO).

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 Court Jails Fake BDC Operator in Maiduguri


Justice A.K Dagat of the Federal High Court, Maiduguri on Thursday, May 9, 2024, convicted and sentenced one Bana Alhaji Lawan to one year imprisonment.


Lawan was arraigned by the Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on a one count charge for carrying out bureau de change businesses without an appropriate licence.


The lone- count read: “That you, Bana Alhaji Lawan between 2007 and 2024, in Maiduguri, Borno State within the jurisdiction of this Honourable Court, did carry on other financial business, to wit bureau de change business without a license issued by Central Bank of Nigeria contrary to Sections 57(5) and 59 of the Bank and other Financial Institutions Act, 2020.”


The defendant pleaded guilty to the charge when it was read to him.


Counsels to the prosecution,  Faruku Muhammad and A. D Aliyu prayed the court to convict and sentence the defendant as charged while counsel to the defendant,  H. Waziri urged the court to temper justice with mercy.


Justice Dagat convicted and sentenced Lawan to one-year imprisonment with an option of N100,000.00 (One Hundred Thousand Naira) fine.


Lawan bagged his imprisonment when he was arrested for illegally operating a bureau de change business in Maiduguri.  He was charged to court and convicted. 

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