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Fraud

Sep 17, 2025

FRN vs Fatuyi Yemi Philips (Chairman of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA)) & 1 other

Humans

Fatuyi Yemi Philips
& 1 other

Money bag

43,502,000.00
Amount allegedly defrauded

Money bag

Case Summary
The accused allegedly obtained the aggregate said sum from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false representation that he would sell to WAPCIL Nigeria Limited $98,870.00 (Ninety Eight Thousand, Eight Hundred and seventy Dollars), representation he knew to be false.

Calendar

958
Day(s) case tried in court

Gavel

Case Update
Consequently, the judge convicted and sentenced the defendant to 14 years imprisonment on count one and seven years on count two, without an option of fine. The sentences are to be served concurrently. The Judge also ordered the second defendant, Oceanview Oil and Gas Limited, to pay a fine of N500,000.00 (Five Hundred Thousand Naira) in respect of count one and another N250,000.00 (Two Hundred and Fifty Thousand Naira) in respect of count two within 30 days or be wound up. The court further ordered the convicts to make restitution in the sum of $90,202.00 (Ninety Thousand, Two Hundred and Two Dollars) or the prevailing Naira equivalent to the nominal complainants.

Court house

Hon. Justice M. A. Dada
State High Court, Ikeja, Lagos

Legislation

ACJA/ACJL Compliance - not applicable

Case Information
Fatuyi Yemi Philips & 1 other
Presiding Judge & Designated Court
Hon. Justice M. A. Dada, State High Court, Ikeja, Lagos
Nature and Number of Charges
2-count charge bordering on obtaining money by false pretence.
Date of 1st Arraignment
Apr 5, 2022
Summary of Case
The accused allegedly obtained the aggregate said sum from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false representation that he would sell to WAPCIL Nigeria Limited $98,870.00 (Ninety Eight Thousand, Eight Hundred and seventy Dollars), representation he knew to be false.
Defendant(s) and Plea entered on Arraignment
1. Fatuyi Yemi Philips (Chairman of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA)) – Not guilty
2. Oceanview Oil and Gas Limited (Company) – Not guilty
Defence Counsel(s)
No defence counsel
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. M. S. Owede (Lawyer)
Status of Case
Decided
Decision
Convicted
Length of Trial
958 day(s)
ACJA/ACJL Compliance
Not Applicable
Court Decision
Consequently, the judge convicted and sentenced the defendant to 14 years imprisonment on count one and seven years on count two, without an option of fine. The sentences are to be served concurrently. The Judge also ordered the second defendant, Oceanview Oil and Gas Limited, to pay a fine of N500,000.00 (Five Hundred Thousand Naira) in respect of count one and another N250,000.00 (Two Hundred and Fifty Thousand Naira) in respect of count two within 30 days or be wound up. The court further ordered the convicts to make restitution in the sum of $90,202.00 (Ninety Thousand, Two Hundred and Two Dollars) or the prevailing Naira equivalent to the nominal complainants.