Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Thursday, February 2, 2023, admitted in evidence a document tendered by the Economic and Financial Crimes Commission, EFCC, through its witness, Kenneth Ikeagwu, against Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA.

Phillips, alongside his firm, Oceanview Oil and Gas Limited, was arraigned on April 7, 2022 on two counts bordering on obtaining money by false pretence to the tune of N43, 502,000.

Count one 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 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, property of WAPCIL Nigeria Limited."

He pleaded "not guilty" to the charges.

At today’s sitting, Kenneth Ikeagwu, a Compliance Officer with Zenith Bank, while being led in evidence by the prosecution counsel, M.S. Owede, narrated what he knew about the alleged fraud.

He told the court that the bank, sometime in November 2016, received a request from the EFCC, asking for the account statement of the defendant's company.

"We made the statement of account available to the Commission and the certificate of identification was signed by my colleague, Mr. Daniel Udom," he said.

The response letter from Zenith Bank to the EFCC was, thereafter, tendered in evidence and admitted as an exhibit against the defendant.

He further told the court that the defendant was the sole signatory to the account.

"There were inflows of N18 million, N25 million and N550, 000, which were paid in tranches," he further told the court.

Under cross-examination by the defence counsel, O. Ajanaku, the witness said he was not the account officer of the defendant.

The witness further told the court that he did not know what the inflows were meant for and that he did not know the people who made the payments into the said account.

The case has been adjourned till March 30, 2023 for continuation of trial.

Media & Publicity

02//02/2023