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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ETHIOPIA: U. S. TREASURY DEPUTY ASSISTANT SECRETARY MEETS NATIONAL BANK GOVERNOR. (PHOTOS).

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 Ethiopia: US Treasury Deputy Assistant Secretary meets National Bank Governor 


Eric Meyer, US Treasury Deputy Assistant Secretary, met today with National Bank of Ethiopia (NBE) Governor, Mamo Mihretu, “to discuss recent macroeconomic developments and the central bank’s ongoing monetary and financial sector reforms,” NBE said. 


Assistant Secretary Meyer’s visit comes amid the ongoing unprecedented microeconomic reforms under the auspices of NEB that was announced on 29 July. 


The sweeping change has since led to a dramatic rise in prices for a range of consumer goods, prompting a crackdown by authorities both in the capital Addis Abeba and outside on businesses accused of “hoarding” and “artificial price hikes.”


On Wednesday this week, NBE held the first of its kind Special Forex Auction in which 27 commercial banks took part with the weighted average of successful bids ending at 107.9 birr per US dollar. 


In addition to the ongoing microeconomic changes, Governor Mamo and Assistant Secretary Meyer “also explored ways to deepen the long-standing bilateral trade and investment relations between the two countries,” NBE further said. 


They were joined by US Ambassador to Ethiopia, Ervin Massinga.

One more photo below. 


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