LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE
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
The Economic and Financial Crimes Commission,EFCC on Monday March 27,2017 arraigned an Enugu based businessman,Nicholas Emenike before Justice C.C. Ani of the State High Court,Enugu on a two-count charge bordering on obtaining the sum of N4,467,500 {Four Million,Four Hundred and Sixty Seven Thousand,Five Hundred Naira Only} under false pretense and issuance of dud cheque.Emenike pleaded not guilty to the charges preferred against him.The accused on the pretext that his company Rosa Construction Company had been awarded a multi-million contract,collect iron rods worth N4.4 million from the complainant to execute part of the contract,pledging to pay up within a month.However,after many months of non-payment of the said sum,coupled with an unending excuse that the contract had been cancelled by his client,the complainant then demanded for the return of the items only to find out to his dismay,that the accused person had sold them off.All efforts to get back his money failed.Instead,Emenike issued a Diamond bank cheque which when presented were returned unpaid due to insufficient funds.Emenike who was due for arraignment on April 4,2016,had jumped an administrative bail granted him by the Commission shortly before the date.He was subsequently re-arrested on 17th March,2017 culminating in today's arraignment.Justice Ani,nevertheless granted the accused bail on health grounds in the sum of N2,000,000.00 {Two Million Naira Only} with two sureties in like sum.The case has been adjourned to April 5,2017.
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