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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BAYELSA COURT ORDER: NOT OUR HABIT TO DISOBEY COURT ORDERS- EFCC. (PHOTO).

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 Bayelsa Court Order: Not Our Habit to Disobey Court Orders - EFCC

 

The attention of the Economic and Financial Crimes Commission has been drawn to a trending report in the media that Ola Olukoyede, the Commission’s Executive Chairman risks committal to prison for alleged violation of the orders of Justice  Isa H. A. Dashen  of  a Federal High Court sitting in Yenagoa, Bayelsa State.


The said order restrains the EFCC from seizing properties belonging to Bliss Multinational Perfections Limited and Bribena, which are alleged proceeds of investment fraud otherwise known as Ponzi scheme.


It is important to point out that the September 4, 2024 judgment by Justice Dashen came to the Commission by surprise as the EFCC was not put on notice of the judgment date.


Denying the EFCC hearing notice was tantamount to blind-siding the Commission, and by extension a denial of fair hearing in the instant case. The Commission is therefore taking steps to appeal the judgment, which is still within the time allowed. An earlier decision by the court in a similar case involving the same defendants is currently on appeal at the appellate court in Port Harcourt.


The Commission wishes to once again reaffirm its commitment to rule of law and will not wilfully violate any court order.

Bliss Multinational Perfection and Arch Oyinmiebi Bribena, the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, were investigated and indicted for investment fraud in which 123 petitioners lost over N2billion to the suspects who promised them 25 percent return on investment but neither got the promised return nor recover the funds invested.


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