BIG STORY

EFCC Nabs NOGASA Chair, Fatuyi Philips Over Alleged N43.5m Fraud

Published

3 years ago

April 10, 2022

The Economic and Financial Crimes Commission (EFCC) has arraigned one Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) alongside his firm, Oceanview Oil and Gas Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos 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 representation that you would sell to WAPCIL Nigeria Limited $98,870.00, a representation you knew to be false.”

Count two 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, stole the sum of N43, 502,000.00, property of WAPCIL Nigeria Limited.”

He pleaded “not guilty” to the charges.

Following his plea, counsel for the EFCC, S.O. Daji, who held the brief of M.S. Owede, prayed the Court for a trial date, in order to enable the prosecution to prove its case against the defendant.

Defence counsel, Charles Ugbonna, who held the brief of Augustine I. Ogbodo, however, informed the Court of the bail application for the defendant filed on April 7, 2022.

While noting that granting bail to a defendant was at the discretion of the Court, Daji stated that the application was not really ripe for hearing.

Following the submission of both parties, Justice Dada adjourned till April 28, 2022, for hearing of the bail application and ordered the remand of the defendant at any Correctional Centre of his choice.

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BIG STORY

JUST IN: Court Remands Yahaya Bello In EFCC Custody Amid Alleged N110bn Fraud Case

Published

2 hours ago

November 27, 2024

PorscheClassy News

The Federal Capital Territory (FCT) High Court has remanded Yahaya Bello, former governor of Kogi, in the custody of the Economic and Financial Crimes Commission (EFCC).

Bello was arraigned on a 16-count charge related to alleged money laundering on Wednesday.

He pleaded not guilty to all the charges.

More to come…

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BIG STORY

First Phase Of 10,800-Bed Hostel In LASU Ready — Tokunbo Wahab

Published

2 hours ago

November 27, 2024

PorscheClassy News

The first phase of a 10,800-bed hostel project at the Lagos State University (LASU) is now ready for inauguration, according to Tokunbo Wahab, former special adviser to the governor on education.

Wahab, who is now commissioner for environment and water resources in Lagos, describes the project as ambitious and transformative.

“ It remains one of the most ambitious and transformative projects undertaken during my time as the Special Adviser to the Governor on Education,” he wrote on X.

“It was executed through a Public-Private Partnership (PPP) model under a Build-Operate-Transfer (BOT) arrangement which involves seven reputable investors.”

Wahab commended Babajide Sanwo-Olu, Lagos governor, for his leadership and continuous support.

“Proud of the work done here and to have been a part of this special one,” he added.

“Through the grace of God and the unwavering support and the dedication of the Lagos State Office of Public-Private Partnerships, the relentless efforts of the management staff of LASU, led by Vice Chancellor Prof. Ibiyemi Olatunji-Bello, and the cooperation of other key stakeholders, the first phase of this landmark project has now been completed.”

Wahab emphasized that the project showcases the state government’s commitment to leveraging public-private partnerships to address critical infrastructure needs in the education sector.

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BIG STORY

JUST IN: Yahaya Bello Pleads Not Guilty In Alleged N110bn Fraud Case

Published

3 hours ago

November 27, 2024

PorscheClassy News

Former Kogi State Governor, Yahaya Bello, has pleaded not guilty to the 16-count charge filed against him by the Economic and Financial Crimes Commission (EFCC) over his alleged involvement in a N110 billion fraud.

Bello was arraigned on Wednesday before Justice Maryanne Anenih of the Federal Capital Territory High Court in Abuja.

The former Kogi governor had been declared wanted by the EFCC in April 2024.

More to come…

Post Views: 42