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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N3 1BN FRAUD: COURT ADJOURNS EX-GOV. SUSWAM'S TRIAL TO MAY 24.(PHOTO).#PRESS RELEASE.

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N3.1bn Fraud: Court Adjourns Ex- gov. Suswam’s Trial to May 24

Justice A.R Mohammed of the Federal High Court Abuja, has adjourned the trial of a former Benue State Governor, Gabriel Suswam and the Commissioner of Finance in his administration, Omadachi Okolobia, till May 24, 2023 for continuation of trial.  

The defendants are facing trial on an amended 11-count charge bordering on money laundering to the tune of N3.1 billion.

At a resumed hearing today, prosecution counsel O.A Atolagbi who held the brief of Rotimi Jacobs, SAN, informed the court that the matter was slated for continuation of trial and cross-examination of the 5th prosecution witness, PW5.

J. B. Daudu, SAN and Paul Erokoro, SAN appeared for the 1st and 2nd defendants.

In cross-examining the witness, Mrs. Mshelia Clara-Whyte, an investment banker working with Investment Partners, Daudu SAN, asked her whether the company she worked for was registered with the Central Bank of Nigeria, CBN? She answered, no, but told the court that it was registered with the Securities and Exchange Commission.

On his part, Erokoro asked the witness whether her firm normally reports suspicious transactions to relevant agencies.

“We are bound by rules of the financial market to report any transaction whether suspicious or not that is above five million naira to NFIU and SEC, and we send the report every Friday.

 “But on this particular transaction, we did not report it as suspicious but rather, as an activity,” she stated.

Justice Mohammed adjourned the trial till tomorrow, May 24, 2023 for continuation of trial.

The Economic and Financial Crimes Commission is accusing the duo of allegedly diverting the money which was said to be part of the proceeds of the sale of shares of Benue State in a company to their personal use.



 

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