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, 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 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 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, thereby leading to his full trial.

In the course of the trial, prosecution counsel, M.S. Owede, tendered several documentary evidence and called five witnesses to substantiate the allegations against him and his company.

The defence, on its part, called three witnesses during the trial.

READ ALSO: Ex-Gov Bello’s co-defendants in alleged N110.4bn fraud case get bail

Delivering judgment on Monday, Justice Dada held that the prosecution proved its case against the defendants beyond reasonable doubts.

Consequently, the judge sentenced Phillips to 14 years imprisonment on count one and seven years on count two, without an option of fine.

The sentences are to be served concurrently.

The Judge also ordered the second defendant, Oceanview Oil and Gas Limited, to pay a fine of N500,000 in respect of count one and another N250,000 in respect of count two within 30 days or be wound up.

The court further ordered the convicts to make restitution in the sum of $90,202.00 or the prevailing Naira equivalent to the nominal complainants.

Phillips’ journey to the Correctional Centre began when he collected the sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited with a false promise of selling its dollar equivalent ($98,870.00) to them. He neither returned the naira nor dollar equivalent to the petitioners.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now