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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DANGOTE VS NMDPRA : NO INVESTOR WILL TRUST A NATION THAT UNDERMINES ITS KEY ASSETS- ATIKU. (PHOTO).

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 Dangote Vs NMDPRA: No Investor Will Trust A Nation That Undermines Its Key Assets – Atiku


Former Vice-President Atiku Abubakar has waded into the controversy between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), saying no investor will trust a nation that undermines its key assets.


The opposition leader in a post on his verified verified Facebook account posted that the 650,000 bpd refinery is essential for our energy needs and economic stability, saying it is essential to drive the nation’s economy.


He said the ongoing impasse is capable of affecting foreign direct investment to the country.


Recall that Aliko Dangote had earlier disclosed how a cabal was blocking his moves to import crude and how it has been difficult to get products.


But the situation took a worse turn when the NMDPRA said the government was yet to license the Dangote refinery to begin operations, even casting aspersions at the quality of the product.


At an interactive session with House of Representatives members led by the speaker at the weekend, Dangote countered the claim, saying the diesel from his refinery is of a very high standard.


Commenting on the rift, Atiku said, “The conflict between Aliko Dangote and NMDPRA is troubling. The Dangote Refinery, our nation’s largest private investment, is crucial for Nigeria’s energy and economic stability.


“The 650,000 bpd refinery is essential for our energy needs and economic stability, and NNPCL’s investment underscores its importance. If we neglect this, we risk deterring vital foreign direct investment.


“No investor will trust a nation that undermines its key assets. Protecting significant investments like Dangote’s is essential to attract FDI and drive our economic growth.”

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