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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LABOURS' N494, 000 MINIMUM WAGE DEMAND AMOUNTS TO N9. 5 TRILLION YEARLY, BUT UNSUSTAINABLE- FG. (PHOTO). #PRESS RELEASE.

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 PRESS RELEASE

 

Labours’ N494,000 minimum wage demand amounts to N9.5 trillion yearly, but unsustainable – FG  

 

The Minister of Information and National Orientation, Mohammed Idris, has said the sum of N494,000 national minimum wage being demanded by organized labour, which cumulatively amounts to the sum of N9.5 trillion bill, is capable of destabilizing the economy and jeopardizing the welfare of over 200 million Nigerians.


Idris stated this at a news conference in Abuja in response to the threat by the organized labor to embark on strike if their demands were not met.


He said the offer of N60,000 minimum wage by the Federal Government, which translates to a 100% increase on the existing minimum wage of 2019, has been accepted by the organized private sector, which is a member of the tripartite committee of the negotiations team.


“The Federal Government’s New Minimum Wage proposal amounts to a 100% increase on the existing minimum wage 2019. Labour, however, wanted N494,000, which would increase by 1,547% on the existing wage.


“The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to the sum N9.5 trillion bill to the Federal Government of Nigeria. 


“Nigerians need to understand that whereas the FG is desirous of ample remuneration for Nigerian workers, what is most critical is that President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour,” he said.


The Minister said even though Labour is keen on the take-home pay of about 1.2 million workers, the Federal Government is concerned with the welfare of over 200 million Nigerians based on its Guiding Principle of Affordability, Sustainability, and the overall health of the nation’s economy.


 Idris appealed to the Organised Labour to return to the negotiating table and embrace reasonable and realistic wages for their members.


He said because of the commitment of the Tinubu administration to the welfare of workers, the wage award of 35,000 for Federal workers would continue until a new national minimum wage is introduced.


Rabiu Ibrahim

Special Assistant (Media) to the Minister of Information and National Orientation.

June 1, 2024

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