NOGASA chair, Fatuyi Philips docked for alleged N43.5m fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned one Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) alongside his firm, Oceanview Oil and Gas Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos 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 representation that you would sell to WAPCIL Nigeria Limited $98,870.00, a representation you knew to be false.”

Count two 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, stole the sum of N43, 502,000.00, property of WAPCIL Nigeria Limited.”

He pleaded “not guilty” to the charges.

Following his plea, counsel for the EFCC, S.O. Daji, who held the brief of M.S. Owede, prayed the Court for a trial date, in order to enable the prosecution prove its case against the defendant.

Defence counsel, Charles Ugbonna, who held the brief of Augustine I. Ogbodo, however, informed the Court of the bail application for the defendant filed on April 7, 2022.

While noting that granting of bail to a defendant was at the discretion of the Court, Daji stated that the application was not really ripe for hearing.

Following the submission of both parties, Justice Dada adjourned till April 28, 2022 for hearing of the bail application and ordered the remand of the defendant at any Correctional Centre of his choice.