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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NIGERIA CUSTOMS SERVICE SIGNS MOU WITH CHINA CUSTOMS TO ENHANCE TRADE. (PHOTOS). #PRESS RELEASE.

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 Nigeria Customs Service Signs MoU with China Customs to Enhance Trade


The Nigeria Customs Service (NCS) has signed a Memorandum of Understanding (MoU) with the General Administration of Customs of the People's Republic of China (GACC) to foster bilateral relationship for the enhancement of economic growth.

 


On Wednesday, 8 May 2024, Comptroller-General of Customs (CGC) Adewale Adeniyi led some of his management team in Shenzhen, where he highlighted the significance of knotting bilateral affiliation with China, which, according to him, will boost the two countries' import-export operations and favour the businesses of MSMEs in Nigeria. 


The CGC appreciated the Vice Minister of the General Administration of Customs of the People's Republic of China, Wang Lingjun, for showing interest in signing MoU with the NCS. He also applauded the recent exponential rise in the development of e-commerce, adding, “We know a lot of Nigerian companies and SMEs take advantage of the opportunities aided through e-commerce.”

 


CGC Adeniyi expressed optimism that the NCS-GACC Memorandum of Understanding will serve as a critical component of cooperative security and trade relationship between the two nation's Customs agencies, reiterating that “The relationship will create a cooperative mechanism for NCS and the GACC to collaborate on supply chain security standards and enhance the economic stability of both nations.”


“These are some of the many reasons why Nigeria Customs Service pays attention to what is happening in China. As you have said, China is making the biggest trade in Nigeria, and the basic context of International Trade is 'your export is our import'. I appreciate the numbers that you gain in Nigeria. But it is also common knowledge that those numbers sometimes must take account of the large volume of informal trade that exists between us.” CGC  Adeniyi said.


Mr Wang Lingjun of the General Administration of Customs, who represented Vice Minister Sun Yuning, and signed the MoU on behalf of the People's Republic of China, expressed satisfaction over CGC Adeniyi's vision that the affiliation between two agencies will serve as a mechanism for creating opportunities that Nigeria and China share on a wide range of economic issues and trade facilitation.

More photos below. 






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