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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DANGOTE PETROL EXPECTED IN JULY. (PHOTO).

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  Dangote Petrol Expected In July


The 650,000 barrels per day Dangote Refinery may not be able to deliver Premium Motor Spirit (PMS) also called petrol to the domestic market in May as widely reported earlier.


Our correspondent learnt that the delay may not be unconnected with the installation of residue fluid catalytic cracking unit (RFCCU) to facilitate sustainable refining of petrol by the refinery.


An industry expert told our correspondent that the RFCCU is an advanced version of the Fluid Catalytic Cracking Unit (FCCU).


“This is causing delays in efforts by the refinery to commence petrol refining,” another source within the firm said.

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