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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1 MILLION HOUSEHOLDS HAVE BENEFITED FROM FG'S CASH TRANSFER SCHEME- WALE EDUN. (PHOTO).

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 1 million households have benefited from FG’s Cash Transfer Scheme – Wale Edun


The Minister of Finance, Wale Edun, has announced that approximately 1 million households have benefited from the federal government’s cash transfer programme since its relaunch. 


Edun disclosed this information during a World Press Conference on Wednesday in Abuja. 


He noted that around 300,000 payments were made in the past week, with about 5 million individuals benefiting from the scheme to date. 


“There are times when what is planned and the timetable that is planned sometimes slip, but the answer is not to now throw out the effort. The answer is not to stop. The answer is to keep going and trying.  


“That was the case with the direct payment for 15 million households covering 75 million people. At first, it didn’t quite go according to plan so there was a pause and now under a much better and technologically strong configuration, payments to individuals have started going out again.  


“Since it was restarted, one million households covering 5 million people, have received the benefits and in the last week alone, 300,000 payments went out,” Edun said.  


In addition, the Minister mentioned the scaling up of payments through technologically aided processes under the new disbursement system. 


“So under the new system, we can expect a scaling up of the payment that Mr. President committed to giving to the poorest and the most vulnerable to help them,” Edun said.

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