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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HOW WE SHARED N570BN TO STATE GOVERNORS - FG.(PHOTO).

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 How we shared N570bn to state Governors – FG


The Federal government says that ₦573 billion shared among state governments was shared among the 36 state governors and the FCT Ministry, contrary to reports that ₦570 billion was shared to each state, under the World Bank-supported NG-Cares programme.


The explanation was offered by the Federal government through a statement made available by the Minister of Information and National Orientation, Mohammed Idris.


The Minister clarified that the state Chief Executives did not get ₦570 billion each from the federal government, adding that the federal government shared ₦573 billion between the 36 state governors and the Ministry of Federal Capital Territory from the end of 2023 to July 2024.


According to to him, the money was a reimbursement under the World Bank-supported NG-Cares programme.


The Minister’s caution against fake followed a report by an online medium that each state received N570 billion each from the federal government.


The state reads: “From December last year reach August this year, the money each governor collected from the federal government is ₦570 billion as additional support. “


“At no time did I say that State Governors received ₦570 Billion each from the Federal Government.


“What the States and the FCT collectively received in reimbursements between the end of 2023 and July 2024, under the World Bank-supported NG-CARES program, is a total of ₦573 Billion Naira, as follows:


“₦135.4B in late 2023, and ₦438.36B last month. These numbers are in the public domain, in the spirit of transparency, and should not be the subject of distortion or sensationalism in the media.”

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