Ex-NOGASA Chairman Sentenced to 21 Years in Prison for N43.5 Million Fraud

Fatuyi Phillips, a former chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), has been sentenced to 21 years in prison for fraud involving N43.5 million. The judgment was delivered by Justice Mojisola Dada of the Special Offences Court in Ikeja.

Phillips was prosecuted by the Economic and Financial Crimes Commission (EFCC), which arraigned him on April 5, 2022, alongside his company, Oceanview Oil and Gas Limited. The charges against him included obtaining money by false pretence. Despite pleading not guilty, the court found Phillips guilty after the EFCC presented five witnesses and documentary evidence, while the defense called three witnesses.

Justice Dada ruled that the prosecution had proven its case beyond reasonable doubt. Phillips received a 14-year prison sentence for the first count and seven years for the second count, to run concurrently. Additionally, Oceanview Oil and Gas Limited, the second defendant, was ordered to pay a fine of N750,000 within 30 days or face liquidation.

The court also mandated restitution of $90,202 or its naira equivalent to the victims. According to the EFCC, Phillips had collected N43.5 million from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited, under the false pretense of exchanging it for $98,870. However, he failed to return either the naira or dollar equivalent, leading to the legal action.