LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 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
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COMPANY EXECUTIVE ARRESTED OVER N128M INVESTMENT SCAM IN IBADAN.{PHOTOS}.#PRESS RELEASE

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The Ibadan Zonal Office of the Economic and Financial Crimes Commission, EFCC, have arrested 43-year-old Amos Olugbenga Olaniyan for allegedly defrauding people of over N128,000,000.00 (One Hundred and Twenty-Eight Million Naira) in a fraudulent investment scheme.

He was arrested following series of petitions by victims. The petitioners alleged that Amos through his company, DHIL Nigeria Limited popularly known as Crime Alert Security Network Investment, persuaded them to invest in a network scheme which offered a monthly 30% returns on investment. According to some of the victims, they were persuaded to invest after listening to the suspect’s weekly radio programme.

However, after investing their monies they neither received the promised interest nor get a refund of their capital since 2020.

Exasperated, they petitioned the EFCC. The Commission, in the course of investigation, discovered that the suspect operated a classic Ponzi scheme and had defrauded hundreds of people, some of whom reported orally to the Commission. Indeed, petitions are still pouring into the Commission on a daily basis from his alleged victims.

Furthermore, it was discovered that DHIL Nigeria Limited, the vehicle used by Amos to scam his victims, was not registered with the Central Bank of Nigeria as a financial institution.

Five exotic cars, three landed properties and other incriminating documents were recovered from the suspect.

He will be charged to court as soon as the investigation is concluded.

 

Media & Publicity

28 May, 2021.

More photos below.

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