Former NOGASA chairman receives a 21-year jail sentence for embezzling N43.5 million. Read the full details of the court ruling.
Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja has imposed a 21-year prison sentence on Fatuyi Philips, the Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), for his involvement in a ₦43.5 million fraud scheme.
The Economic and Financial Crimes Commission (EFCC) charged Philips and Oceanview Oil and Gas Nigeria Limited with two counts of fraud and obtaining money under false pretenses, following allegations that Philips defrauded victims of ₦43,502,000.
Despite pleading not guilty, a trial commenced on April 30, 2022, culminating in a judgment delivered on Monday, where Justice Dada determined that the EFCC had established its case beyond a reasonable doubt.
Philips received a 14-year sentence for Count 1 and 7 years for Count 2, to be served concurrently.
The court highlighted that, although $8,000 was recovered during the investigation, Philips exhibited no remorse and did not repay the Naira equivalent owed to the complainant.
Justice Dada asserted that justice could not be postponed any longer, stating that the defendant had no intention of compensating the complainant.
Additionally, she mandated Philips to fully reimburse the ₦43.5 million within 90 days and ordered Oceanview Oil and Gas Nigeria Limited to pay fines of N500,000 and N250,000 for the respective counts within 30 days, failing which the company would face immediate dissolution.
Peoplesmind
