EFCC calls 2 witnesses in N43.5m fraud case
The EFCC on Friday called two witnesses to testify against the Chairman of Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), Philips Fatuyi, charged with N43.5million fraud.
Fatuyi is standing trial alongside his company, Oceanview Oil and Gas Ltd. at an Ikeja Special Offences Court.
Led in evidence by EFCC’s counsel, Mr Spife Owede, the first prosecution witness, Mr Princewill Nmerenwanne, a business consultant, said he transferred N43.5 million to Fatuyi sometimes in 2016.
The defendant was to change the money into U.S. dollars and return the same, but did not do so, he said.
“The money was transferred to Fatuyi’s company account in three tranches of N502,000, N25 million and 18 million on the same day.
“Mr Elochukwu Okoye, the second prosecution witness, made the transfers at the exchange rate of N440 to the dollar at that time.
“Fatuyi was supposed to remit 98,870 dollars as equivalent to us which we never received,’’ he said
Elochukwu Okoye is a bureau de change operator with WAPCIL Nig. Ltd and the owner of Elebana Unique Ventures Nig. Ltd.
“We approached the law enforcement agency and Fatuyi was invited and detained but nothing came out of it.
“I also travelled to Abuja to complain to the Monitoring Unit of the Inspector-General of Police’s office and he was invited and detained, but was granted freedom after a few days.
“I had to run back to Lagos to complain to the EFCC.
“He was arrested and the issue dragged back and forth until he agreed to pay 8,000 dollars monthly; he paid just once and never paid again.
“I wrote a petition to the EFCC against the defendant and his company and the matter also dragged at the EFCC for some time before he agreed to pay the money in instalments.
During cross-examination by defence counsel, Mr Olarenwaju Ajanaku, Nmerenwanne said he made preliminary findings as to why Fatuyi was not repaying the money and that he did not transfer the money by himself.
“I did not transfer the money myself. It was Okoye who transferred the money to the defendant and I made some findings and found out that Fatuyi has houses at Oke Afa in Isolo, Lagos, but I did not confirm if he has hotel in Ikeja.
“What I am interested in is retrieving my money. What I was hoping is that the defendant could sell the houses and give me my money,’’ the witness said.
Okoye testified that he knew Fatuyi in the course of the transaction and that he sent the N43.5 million to his company.
He told the court that the petition he wrote to the EFCC was signed by the first prosecution witness and added that a meeting was scheduled by the commission on which the defendant agreed to pay 8,000 dollars monthly but failed as promised.
Presiding Justice Mojisola Dada adjourned the case to Sept. 30 for the continuation of trial.
