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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ANCELOTTI BACKTRACKS ON REJECTING FIFA CLUB WORLD CUP PARTICIPATION. (PHOTO).

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 Ancelotti backtracks on rejecting FIFA Club World Cup participation


In a turn of events, Real Madrid manager Carlo Ancelotti has backtracked on his earlier comments dismissing the club’s participation in the upcoming FIFA Club World Cup.

“In my interview with Il Giornale, my words about the FIFA Club World Cup have not been interpreted in the way I intended,” Ancelotti stated in a clarification statement on Monday.

“Nothing could be further from my interest than rejecting the possibility of playing a tournament that I think can be a great opportunity to continue fighting for great titles with Real Madrid,” he added.

Ancelotti’s remarks come in stark contrast to his reported comments to the Italian newspaper, where he was quoted to have said that Real Madrid would reject the invitation to participate in the prestigious club competition.

“Real Madrid will NOT go to the FIFA World Club, we will reject the invitation like other clubs,” the Italian tactician had told Il Giornale, citing dissatisfaction with the tournament’s prize money as the reason behind the club’s stance.

“Just one single Real Madrid match is worth €20m, and they want to give us that money for the whole competition… no way. Negative,” Ancelotti had said.

The FIFA Club World Cup is an annual international club football competition organized by FIFA, featuring the champions from each of the six continental confederations (UEFA, CONMEBOL, CONCACAF, AFC, CAF, and OFC), along with the host nation’s domestic league champions.

The tournament follows a straight knockout format over two weeks, with the European and South American champions entering at the semi-final stage.

Real Madrid holds the record for most titles in the competition, having won it five times. Spanish clubs have been the most successful overall, with eight titles, while English clubs have claimed four victories. The current champions are Manchester City, who defeated Fluminense 4-0 in the 2023 final.

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