Court grants N20m bail to Oil & Gas union leader accused of N43m fraud

The Lagos State Special Crimes Court in Ikeja has granted bail to the president, Nigerian Natural Oil and Gas Suppliers Association (NOGASA)Fatuyi Philips, at his trial for fraud N43.5m. The Economic and Financial Crimes Commission (EFCC) on 7 April indicted Mr. Phillips along with his firm, Oceanview Oil and Gas Limited, on two counts of theft and obtaining a total of N43,502,000 under false pretenses. The anti-corruption agency accused the defendants of stealing the money from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited under the false promise to sell $98,870 to WAPCIL Nigeria Limited. Philips allegedly committed the crimes in Lagos sometime in 2016, according to a statement from EFCC spokesman Wilson Uwujaren. He pleaded “not guilty” to the charges. bail request Philip’s defense attorney, O. Ajanaku, moved his bail application to April 7, 2022, when the matter was filed in court on Thursday. “We urge your lordship to admit the first defendant seeking bail and for any other orders your lordship may make,” the defense attorney said. Furthermore, he argued that the accused, according to the Nigerian constitution, “is presumed innocent of all charges until proven otherwise.” However, opposing the bail application, EFCC lawyer IN Ubabudu urged the court to “dismiss the application as without merit”. Decision The trial judge, Mojisola Dada, granted the defendant a bail of 20 million naira with two guarantees of the same amount, after The two sureties, the judge ruled, must be residents within the jurisdiction and must present evidence of three years of paying taxes. The court also ordered the defendant to present his passport to the defendant of the bail application, which is the EFCC. The judge then adjourned the case until June 17 for trial. Charges Count one reads: “Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about September 28, 2016 in Lagos, within the jurisdiction of this Honorable Court, with intent to defraud, obtained the full sum from N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false statement that he would sell WAPCIL Nigeria Limited $98,870.00, a statement he knew to be false.” Count two reads: “Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about 28 September 2016 in Lagos, within the jurisdiction of this Honorable Court, stole the sum of N43,502,000.00, owned by WAPCIL Nigeria Limited. ” Read More Related News Here Let here it in the comment below if you do have an opinion on this; Court grants N20m bail to Oil & Gas union leader accused of N43m fraud