By TSJ Reporter
A special offences court in Ikeja has convicted Fatuyi Phillips, the former chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), for defrauding a sum of N43.5 million. Phillips was sentenced to 21 years in prison by Justice Mojisola Dada.
Phillips, who was arraigned by the Economic and Financial Crimes Commission (EFCC) on April 5, 2022, faced a two-count charge of obtaining money under false pretences. He pleaded not guilty to the charges, which stemmed from the fraudulent transaction involving the sum of N43,502,000.
The EFCC presented five witnesses and several documentary pieces of evidence, while the defendants called three witnesses in their defense. In her judgment, Justice Dada stated that the prosecution had proved its case beyond reasonable doubt.
Phillips was sentenced to 14 years for count one and 7 years for count two, with both sentences to run concurrently and without the option of a fine. In addition, Phillips’ company, Oceanview Oil and Gas Limited, was fined N500,000 for count one and N250,000 for count two, with a 30-day deadline for payment or risk winding up the company.
The court further ordered Phillips and his company to make restitution of $90,202 or its equivalent in Nigerian naira to the complainants, Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited.
The case against Phillips began when he falsely promised to sell $98,870 to the complainants in exchange for the N43.5 million but failed to fulfill the transaction or return the funds.