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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SENATE OKAYS N70, 000 AS NEW MINIMUM WAGE. (PHOTO).

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 Senate okays N70,000 as new minimum wage


The proposed N70, 000 as new minimum wage, has been approved by the Senate by expeditiously passing an executive bill forwarded for that purpose to it by President Bola Tinubu for third reading .


The bill which also reduced the time of review of the minimum wage from five to three years , was given first , second and third readings sequentially in plenary on Tuesday.

ACCORDING TO ANOTHER SOURCE:


The Senate on Tuesday, July 23 passed the National Minimum Wage Act 2019 (Amendment Bill).


The bill, which scaled first, second and third readings, just minutes after it was sent by President Bola Tinubu, was instantly passed by the upper chamber.


In a unanimous vote after a clause consideration in the Committee of the Whole, the National Minimum Wage Bill scaled third reading and was passed .


Earlier, Tinubu sent the National Minimum Wage Bill to the National Assembly and separately wrote the Senate and the House of Representatives requesting expedited consideration of a bill for an Act to amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage from ₦30,000  to ₦70,000.


The President also asked the lawmakers to reduce the time for periodic review of the national minimum wage from five years to three years and related matters.


Last week, Tinubu and the leadership of the Organised Labour agreed on ₦70,000 as the new minimum wage for Nigerian workers.

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