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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COURT GRANTS FINAL FORFEITURE OF TELECOM EXPERT'S FRAUDULENT PROPERTY IN ENUGU.)(PHOTO). #PRESS RELEASE.PRESS RELEASE.

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 Court Grants Final Forfeiture of Telecom Experts’ Fraudulent Property in Enugu


Justice Kehinde Ogundare of the Federal High Court, sitting in Ikoyi, Lagos, on Monday, May 13, 2024, ordered the final forfeiture of a parcel of land measuring 2348.072 square metres in Enugu State recovered from the duo of Babatunde Said Adeola and Kingsley Ifeanyi Adonu to the Federal Government.


Adeola and Adonu, owners of S. Mobile Netzone Limited, Biss Networks Nigeria Limited and Pristine Networks Mobile Networks Nigeria Limited, had presented themselves as telecommunications experts with flourishing businesses and joint ventures with MTN Nigeria and other companies.


The Commission, however, received a petition alleging a case of conspiracy and obtaining the sum of N510,000.000 (Five Hundred and Ten Million Nara) against S. Mobile Netzone Limited, Biss Networks Nigeria Limited and Pristine Networks Mobile Networks Nigeria Limited.


The funds, investigation revealed, were invested by the petitioners in the telecom businesses owned by the respondents.


Investigation further revealed that the respondents, rather than refund the petitioners or pay them interests on their investments, converted the funds into their personal use, acquired pieces of land across the country, including the property measuring 2348.072 square metres described in survey plan No. CSS/EM164/2005 along Enugu-Ezike/Obolo-Afor Road, Ogrute Enugu Ezike in Igboeze Local Government Area, Enugu State.


In view of this, the Commission, in a motion ex parte, had approached the court seeking an interim forfeiture of the property.


In a 16-paragraph affidavit deposed to by Adekunbi Mojisola, an investigator with the EFCC, the Commission prayed the court to grant the forfeiture of the property.


In granting the application, the Judge had, sometime in July, 2023, ordered the interim forfeiture of the property and also directed the publication of the same in a national newspaper.


Following the order, the Commission  published the forfeiture order in the Punch newspaper of November 8, 2023 for interested parties to show cause why the property should not be forfeited to the Federal Government.


In the absence of any contestation, the court today ordered the final forfeiture of the property, sequel to the application filed by the EFCC on December 13, 2023.

 

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