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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HOUSE OF REP HAS DIRECTED JAMB TO REMIT N3. 602 BILLION TO THE FG. (PHOTO).

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 FRC Accuses JAMB of Failing to Remit ₦3.6 Billion in Operating Surplus


The House of Representatives has directed the Joint Admissions and Matriculation Board (JAMB) to remit ₦3.602 billion to the Federal Government’s Consolidated Revenue Fund (CRF). The decision was made during an investigative hearing held by the Public Accounts Committee in Abuja, following allegations by the Fiscal Responsibility Commission (FRC) regarding unremitted operating surplus.


Chairman of the Public Accounts Committee, Rep. Bamidele Salam, emphasized that the remittance was a legal obligation and not subject to personal interpretation. He clarified that JAMB’s argument regarding the difference between 25% and 50% remittance rates had no bearing on the case. The Committee ordered JAMB to make the payment within 30 days and provide evidence of the remittance to the FRC.


The FRC representative, Bello Aliyu, informed the Committee that JAMB had a liability of ₦390.725 million as of 2021, which had increased to ₦3.602 billion by 2022. Despite multiple reminders, JAMB had failed to respond to the FRC’s notices. Mufutau Bello, JAMB’s Director of Finance and Administration, acknowledged the difference in remittance expectations, attributing the confusion to the FRC's push for a 50% remittance, while JAMB had been operating under a 25% concession granted by the Office of the Accountant-General.

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