Kemisola Oye
JUSTICE Mojisola Dada of a Lagos Special Offences Court sitting in Ikeja earlier today sentenced Fatuyi Yemi Philips, Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years in prison for his involvement in a fraud amounting to Forty-Three Million, Five Hundred Thousand Naira (N43.500,000.00) only.
Justice Dada arrived at the verdict after finding Philips guilty of two counts filed against him by the Economic and Financial Crimes Commission (EFCC).
It would be recalled that the EFCC had filed charges against Philips, alleging that he had obtained money by pretence in the sum of N43,502,000.00.
Philips, who was first arraigned on 7 April 2022, stood trial alongside Oceanview Oil and Gas Nigeria Limited.
Count one of the charges 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 of the charge 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, the property of WAPCIL Nigeria Limited.”
Philips pleaded not guilty to the charges, and the trial proceeded.
During the trial, the prosecution’s last witness, Musa Mohammed, a Bureau De Change (BDC) operator, was led in evidence by EFCC counsel O. S. Owede.
The witness testified about how he met the defendant and became involved in a business transaction with him.
He explained that in September 2016, Philips gave him $40,000 in cash to help exchange it.
After the EFCC presented its fifth and final witness on 30 March 2023, the prosecution closed its case, and the trial was adjourned for the defence.
On Friday, 16 June 2023, Philips began his defence before the court. During his testimony, led by his counsel, Olanrewaju Ajanaku, Philips claimed that he had given $100,000 to one Olumide Adegbite for exchange, as Adegbite had told him he had connections with the Central Bank of Nigeria (CBN) and could secure a preferential exchange rate.
However, a mild drama unfolded when the prosecution’s lawyer, Owede, objected, informing Justice Dada that the NOGASA chairman was reading from a prepared script.
The paper from which Philips had written account numbers and figures was presented to the court. Justice Dada allowed the defendant to continue using the document.
After two hours of Philips’ testimony, the defence team concluded its case.
In passing judgment, Justice Dada emphasized that the burden of proof was always on the prosecution.
She sentenced Philips to 14 years imprisonment for counts 1 and 7 years for count 2, after finding that the EFCC had proved its case beyond a reasonable doubt.
Justice Dada also noted that Philips did not pay the Naira equivalent of the funds to the nominal complainant, and remarked that the case could not be prolonged further.
She declared that the sum of $8,000 had been recovered from the defendant during investigation, adding that Philips had remained unrepentant.
In her words: “The first defendant never had the intention of giving the nominal complainant the Naira equivalent of the Dollar.”
Justice Dada ordered Philips to restitute the full sum of N43.5 million to the nominal complainant within 90 days of the judgment.
She also directed that Oceanview Oil and Gas Nigeria Limited pay a fine of N500,000 for count 1 within 30 days or face winding up.
For count 2, the company was fined N250,000, also payable within 30 days, or it would face winding-up.
Eighteen-Eleven Media