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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LACK OF FUND STALLING AMBASSADORS' APPOINTMENTS- MINISTER. (PHOTO).

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 Lack of fund stalling ambassadors’ appointments – Minister


The Minister of Foreign Affairs, Yusuf Tuggar, has attributed the delay in appointing ambassadors to financial and economic challenges being faced by the current administration.


Tuggar disclosed this during the ministerial sectoral briefing on Tuesday in Abuja.


Nigeria has 109 missions, 76 embassies, 22 high commissions and 11 consulates globally.


“The whole idea was to stop subsidising consumption and focus on subsidising production.


“However, the government has faced various other challenges. When the microeconomic reforms began showing benefits, platforms like Binance and the rise of cryptocurrencies began undermining those gains,” Tuggar stated.


According to the minister, the Ministry of Foreign Affairs has not been receiving the necessary funding to operate effectively.


He noted that it was pointless to appoint ambassadors without the financial resources to support their travel and the effective running of missions abroad.


“We met a situation where Foreign Affairs was not being funded like the way it should be. Some loopholes are exploited by the likes of Binance. It is a money problem. There is no point sending out ambassadors if you do not have the funds for them to even travel to their designated country and to run the missions effectively, one needs funding,” he said.


Despite these hurdles, Tuggar assured all that the government was addressing the issue.


“Mr. President is working on it and it will be done in due course,” he concluded.


On September 2, 2023, President Bola Tinubu recalled all career and non-career ambassadors operating the country’s diplomatic missions, embassies and consulates globally.


The envoys were directed to return to the country on or before October 31. They include the 41 non-career ambassadors and 42 career ambassadors appointed by Former President Muhammadu Buhari in July 2020.


The lack of appointed ambassadors has raised concerns about Nigeria’s diplomatic representation and the effectiveness of its foreign missions.


Tuggar explained that upon taking office, Tinubu prioritised the removal of subsidies on consumption to redirect focus towards production subsidies.

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