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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FG SPENT $1.5BM TO PROTECT OIL INSTALLATIONS IN FOUR YEARS-SGF. (PHOTO).

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 FG Spent $1.5bn To Protect Oil Installations In Four Years — SGF


The Federal Government has spent over $1.5 billion from 2020 to date to protect the nation’s oil installations and curb crude oil theft.


The Secretary of the Government of the Federation (SGF), George Akume, made this known on Thursday at a public hearing of the House of Representatives on crude oil theft.


Akume was represented by the Permanent Secretary, General Services, Maurice Nandi.


The SGF said the Federal Government was worried about the report of the Nigerian Extractive Industries Transparency Initiative (NEITI) which pointed to over $46 billion worth of stolen crude between 2009 and 2020.


The House had set up a special committee headed by the Chairman, House Committee on Petroleum Upstream, Ado Doguwa, to investigate the losses in the oil and gas sector.


Also, Speaker of the House Tajudeen Abbas, represented by Deputy Speaker Benjamin Kalu, said $10 billion has been lost in seven months to crude oil theft, and no magic can be done by the government with such a loss.

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