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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OIL THEFT IN NIGERIA INTOLERABLE, NO MORE EXCUSES FOR INACTION- WTO CHIEF. (PHOTO).

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 Oil Theft In Nigeria Intolerable, No More Excuses For Inaction – WTO Chief


The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, says there are enough technological innovations to track crude oil theft and bring those behind the act to justice in Nigeria.


The former Nigerian finance minister said those responsible for stopping the “intolerable” action of crude oil theft no longer have excuses.


She spoke before a room filled with lawyers at the Eko Hotel & Suites in Lagos during the opening ceremony of the 2024 Annual General Conference of the Nigerian Bar Association (NBA) on Sunday.


In her keynote address entitled, ‘A Social Contract For Nigeria’s Future’, Okonjo-Iweala said, “A second aspect of security relates to the security of national assets. Nigerians have seen for years how organised crude oil theft on a massive scale seriously undermines the economic and financial health of the country.


“All Nigerians must agree that stealing of our national assets of any type is intolerable and must be stopped.”


She said oil theft has hampered the strengthening of the foreign reserves.


“There is so much technology available now to track such theft and there must be no more excuses for inaction.”


The event with the theme, ‘Pressing Forward; A National Posture to Rebuilding Nigeria’, featured stellar personalities at home and abroad.


Former President of Ghana John Mahama and the President of the Court of Appeal of Nigeria, Justice Monica Dongban-Mensem, were physically at the event while President Bola Tinubu was represented by Vice President Kashim Shettima.


Acting Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun; Senate President Godswill Akpabio and his counterpart in the lower chamber Tajudeen Abbas were also represented at the event.

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