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

CAC EXTENDS DEADLINE FOR POS REGISTRATION. (PHOTO).


 CAC extends deadline for PoS registration


The Corporate Affairs Commission (CAC) has extended the deadline for registration of all Point of Sale (PoS) Operators by additional sixty days to accommodate others who were not able to register due to technical glitches.

Daily Trust reports that the commission had earlier given a deadline of 7th July 2024.

However, in a post signed by Management on its X handle on Sunday, it stated that the deadline had been extended by two months.

“The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (PoS) Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents and Agents has been extended for a period of sixty days beginning from 7th July 2024 to the 5th September 2024.

“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses,” the management wrote.

It, however, affirmed that “Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities,”

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