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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COURT JAILS THREE ILLEGAL BUREAU DE CHANGE OPERATORS IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Three Illegal Bureau de Change Operators in Maiduguri


Justice K. Dagat of the Federal High Court, sitting in Maiduguri, Borno State, has convicted and sentenced three illegal bureau de change operators to one year imprisonment each.


They were arraigned on Wednesday, July 10, 2024, by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a one-count separate charge for operating illegal bureau de change business.es.


The defendants are Buba Ahmadu Aliyu, Mohammed Mustapha, and Muhammad Zarami.


The count against Aliyu reads "That you, Buba Ahmadu Aliyu sometime in May 2024, within the jurisdiction of this Honourable Court, did carry on, other financial business without license issued by the Central Bank of Nigeria contrary to section 57 (1) and (2)b and punishable under section 57 (5) b of the Banks and other Financial Institutions Act, 2020."

While the charge against Mustapha reads: That you, Mohammed Mustapha sometime in May 2024, within the jurisdiction of this Honourable Court, did carry on, other financial business without license issued by the Central Bank of Nigeria contrary to Section 57 (1) and (2)b and punishable under 57 (5) b of the Banks and other Financial Institutions Act, 2020."


The defendants pleaded “guilty” to the charges when they were read to them.


Thereafter, prosecution counsel, A.B Aliyu prayed the court to convict and sentence the defendants accordingly, while counsel for the defendants H. Basharu urged the court to temper justice with mercy while convicting them.


Justice Dagat thereafter convicted and sentenced the defendants to one-year imprisonment with an option of N100,000.00 (One Hundred Thousand Naira) each.


The convicts bagged their imprisonment when they were arrested for operating  bureau de change businesses without an appropriate licence.

 

More photos below. 




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