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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NIGERIAN KING, OBA FREDRICK OBATERU AKINRUNTAN IS THE SECOND RICHEST KING IN AFRICA WITH A NET WORTH OF $300 MILLION IN 2014.(PHOTO).

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 Nigerian King, Oba Fredrick Obateru Akinruntan is the second richest King in Africa with a net worth of $300 million in 2014.


He is the Olugbo of Ugbo Kingdom in Ondo State.


He is the Founder of Obat Oil, which owns over 50 fuel stations and one of Africa's largest tank farms with a capacity to store 65 million liters of petroleum products.


He owns real estate properties in the UK and Nigeria.


He has a customised built 2012 Rolls Royce, $1 million wristwatch and 2014 Bentley.


Source: Forbes

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