Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja has sentenced Fatuyi Philips, Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years imprisonment for a ₦43.5 million fraud.
The Economic and Financial Crimes Commission (EFCC) had charged Philips and Oceanview Oil and Gas Nigeria Limited with two counts of fraud and obtaining money by false pretence.
The charges stemmed from accusations that Philips defrauded his victims of ₦43,502,000. He pleaded not guilty, prompting a trial that began on April 30, 2022.
Delivering judgment on Monday, Justice Dada ruled that the EFCC had proven its case beyond reasonable doubt. Philips was sentenced to 14 years for Count 1 and 7 years for Count 2, to run concurrently.
The court noted that while $8,000 had been recovered during the investigation, Philips showed no remorse and failed to pay the Naira equivalent owed to the complainant. Justice Dada emphasized that justice could no longer be delayed in the matter.
“The first defendant never intended to provide the nominal complainant with the Naira equivalent of the Dollar,” she held.
Justice Dada also ordered the convict to fully restitute the sum of N43.5 million to the nominal complainant within 90 days of the judgment.
She further directed Oceanview Oil and Gas Nigeria Limited to pay a fine of N500,000 for Count 1 and N250,000 for the second court charge within 30 days or face immediate winding up.
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