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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REPS PROBE MISSING CRUDE, DIRTY FUEL.(PHOTO).

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  Reps probe missing crude, dirty fuel


The Joint Committee of the House of Representatives carrying out a forensic investigation into the challenges affecting the downstream and midstream petroleum sectors has commenced a probe into allegations of importation of contaminated Premium Motor Spirit, also known as fuel, into the country.


The committee’s Chairman, Ikenga Ugochinyere disclosed this at the formal inauguration of the panel in Abuja on Monday.


The investigative panel will also look into allegations of the non-availability of crude oil to domestic refineries, disruption in distribution and favouritism in the pro forma invoice regime, among others.


Briefing newsmen at the event, Ugochinyere said, “The committee will conduct a legislative forensic investigation into the presence of middlemen in crude trading, indiscriminate issuance of licences and alleged unavailability of international standard laboratories to check adulterated products.”


He noted that the panel would also probe the possible influx of contaminated products into the country and “the allegation of non-domestication of profits realised from crude marketing sales in local banks, abuse of the PFI regime and importation of products already being produced in Nigeria.”


Meanwhile, the panel is set to visit petrol stations nationwide to take samples of their product for laboratory tests to ascertain their quality.


The mandate of the joint committee is sequel to the adoption of a motion on July 9, 2024, on the “Urgent need to carry out a legislative forensic investigation into the challenges affecting the downstream and midstream petroleum sectors in Nigeria and other related matters to find out a lasting solution to all challenges,” affecting the petroleum industry.

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