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 trial of Muhammed Dele Belgore,a Senior Advocate of Nigeria,SAN,and Prof. Abubakar Sulaiman,a former Minister of National Planninf,commenced on Monday,March 13,2017 before Justice R.M. Aikawa of the Federal High Court sitting in Ikoyi,Lagos,with a prosecution witness,Timothy Olaobaju,a staff of Fidelity Bank Plc,revealing how the immediate former Minister of Petroleum,Diezani Alison-Madueke,allegedly paid the sum of N450,000,000 into the defendants accounts.The accused persons were arraigned on February 8,2017 by the Economic and Financial Crimes Commission,EFCC,on a five-count charge bordering on conspiracy and money laundering to the tune of $115,010 {equivalent of N450m}.At the resumed hearing today,Olaobaju,who is the first prosecution witness,PW1,told the court that he met the defendants in the course of his duty as a supervisor for operational activities in his region.Olaobaju,who was led in evidence by the prosecution counsel,Rotimi Oyedepo,said that the Bank's Managing Director,Nnamdi Okonkwo,told him sometime in April 2014 that some individuals and three companies-Northern Belt Oil and Gas Company,Auctus Integrated Investment Limited and Mid-Western Oil and Gas Company Limited-would pay some money in dollars into the bank.He also told the court that Okonkwo,however,did not disclose the purpose of the payment.Giving further testimony,he said: ''In March 27,2015,there was a directive from the former Petroleum Minister,Diezani Alison-Madueke,through the Managing Director of Fidelity Bank Plc,that the received funds should be converted to Naira and paid to some certain individuals.''Both Mohammed Dele Belgore,SAN,and Prof. Abubakar Sulaiman were among the beneficiaries of the money.The sum of N450,000,000.00 {Four Hundred and Fifty Million Naira} was paid to them as instructed''.The receipt of payment was tendered and admitted in evidence as exhibit by the court.Justice Aikawa adjourned the matter to March 14,2017 for continuation of trial,
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