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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CHELSEA FACING TRANSFER BAN, POINTS DEDUCTION WITH PREMIER LEAGUE SET CONCLUDE INVESTIGATION. (PHOTO).

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 Chelsea facing transfer ban, points deduction with Premier League set conclude investigation


Chelsea are facing a possible transfer ban, with Premier League CEO Richard Masters giving an update about investigation into the club for potential financial breaches when Roman Abramovich was owner of the club.


Abramovich owned the Blues between 2003 and 2022, until he was sanctioned by the UK government.


The 57-year-old was eventually disqualified as a director of the club, following Russia’s invasion of Ukraine.


When the Todd Boehly-led consortium took over in May 2022, they reported the cases of incomplete financial information during Abramovich’s tenure.


The Guardian and Bureau of Investigative Journalism later reported have since revealed that leaked documents showed how Abramovich allegedly used offshore companies to make transactions to agents and associates, which appeared to benefit Chelsea.


These alleged payments ran into tens of millions of pounds and could therefore have breached financial rules if not officially declared.


In July 2023, UEFA fined Chelsea €10m for “submitting incomplete financial information” between 2012 and 2019.


But the Premier League’s investigation – which could lead to a fine, points deduction or transfer ban for the Blues – was to set to examine potential links between the offshore entities and those involved in the transfers.


Masters told newsmen: “What we’re talking about is something historic.


“It’s complicated where we have the club talking to us about things that have happened under a previous ownership.


“All I can say is that investigation is reaching a conclusion. But until it has done so, I can’t really say what is going to happen next.”

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