Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, convicted and sentenced Fatuyi Yemi Philips, Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years in prison for his involvement in a fraudulent scheme that resulted in the misappropriation of N43.5 million.
According to a statement by the Economic and Financial Crimes Commission (EFCC), The fraud was carried out through his company, Oceanview Oil and Gas Limited.
Phillips was arraigned by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on April 5, 2022. He faced a two-count charge alongside his company, Oceanview Oil and Gas Limited.
Charges against Phillips and Oceanview Oil and Gas Limited
The first count 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 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, a representation you knew to be false,” they stated.
The second count accuses Phillips and his company of stealing the sum of N43,502,000.00, which was the property of WAPCIL Nigeria Limited.
Throughout the trial, Phillips pleaded “not guilty,” and his defense team called three witnesses to dispute the charges.
However, the prosecution, led by M.S. Owede, presented a compelling case, submitting documentary evidence and calling five witnesses who corroborated the allegations against Phillips and Oceanview Oil and Gas Limited.
Justice Dada concluded that the prosecution had proven its case beyond reasonable doubt. As a result, Phillips was sentenced to 14 years imprisonment for the first count and seven years for the second, with the sentences to run concurrently.
Justice Dada disclosed that Phillips had collected the sum of N43,502,000 from the complainants with the promise of selling $98,870 to them but failed to fulfil this commitment, leaving the petitioners defrauded of both the Naira and dollar equivalent.