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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BOOK ON THE 2004/2005 BANKING CONSOLIDATION TO BE UNVEILED IN LAGOS. (PHOTO). #PRESS RELEASE.

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 *Book on the 2004/2005 Banking Consolidation to be Unveiled in Lagos*


_The Power of One Man: How the Soludo-Engineered Consolidation Transformed Nigerian Banks to Global Players_ will be unveiled in Lagos at 11am on July 6, 2024, exactly 20 years after the revolutionary banking reforms that culminated in the emergence of 25 banks that had beefed up their capital base to a minimum of N25 billion. The book will be unveiled at Eko Hotels and Suites, Victoria Island, Lagos, Nigeria.


Written by Dr. Ray Echebiri, a seasoned journalist and economist, the book captures lucidly the chain of events in the Nigerian economy, and the banking industry in particular, that led to the banking consolidation of 2004/2005, and what transpired during and immediately after the exercise. It also captures in unmistakable terms how the banking consolidation transformed the Nigerian banking industry and placed it on the same pedestal with the banking industry of such regions as the Americas, Europe and Asia.


The book will be reviewed by a seasoned journalist, author and entrepreneur, Mr. Azu Ishiekwene, Senior Vice Chairman/Editor-in-Chief of Leadership Newspapers.


The book launch will be chaired by a Professor of Economics, Akpan Hogan Ekpo. Ekpo had functioned as Vice Chancellor of University of Uyo, Member of the Monetary Policy Committee of the Central Bank of Nigeria, Member of the Board of the Central Bank of Nigeria, Director General of West African Institute for Financial and Economic Management, and consultant to many multilateral financial institutions and organisations.


The event will be graced by VVIPs, including Chief Olusegun Obasanjo, during whose administration as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria the banking consolidation was implemented; Professor Chukwuma Charles Soludo, Governor of Anambra State, who initiated and midwifed the 2004/2005 banking consolidation; Mr. Babajide Sanwo-Olu, Governor of Lagos State, whose state was the playground of the banking consolidation.


Also expected to grace the event are the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, Mr. Ernest Ebi, former Deputy Governor of the Central Bank of Nigeria; other Deputy Governors of the CBN who served with Professor Soludo; eminent bankers, captains of industry, government officials, members of the academia and media executives.

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