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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CENTRAL BANK OF LIBYA RESUMES OPERATIONS AFTER RELEASE OF DIRECTOR. (PHOTO).

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 Central Bank of Libya Resumes Operations After Release Of Director


The Libya’s Central Bank (CBL) has resumed its operations after an abducted bank official was released.


CBL announced in a statement that it would resume operations, citing the release and safe return of Musab Msallem, its head of information technology.


Msallem was abducted on Sunday morning by an “unknown party” and this prompted the Central Bank to halt all operations pending his release.


The kidnap occurred a week after armed men attacked the central bank’s headquarters in Tripoli.


Reports say the primary motive behind the attack was to force the resignation of the Central Bank, Seddik al-Kabir whom have been in office since 2012.


Kabir has been scrutinised, even by individuals associated with Prime Minister Abdulhamid Dbeibah, for the way Libya’s oil resources and the state budget are being handled.


The central bank is the only internationally recognised depository for Libyan oil revenues, which provide vital economic income for a country torn for years by conflict between two rival governments in Tripoli and Benghazi.

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