A Lagos State High Court in Ikeja has sentenced Oluremi Phillips, a businesswoman, to 17 years in prison for defrauding AYM Shafa Limited of N57.6 million. Her company, Omritas Energy Limited, was also implicated in the case.
The Economic and Financial Crimes Commission (EFCC) revealed that in 2016, Phillips collected money from AYM Shafa Limited for the supply of Automotive Gas Oil (diesel) but failed to deliver the goods. Additionally, her company issued a cheque for N14.3 million on April 10, 2017, which was dishonored due to insufficient funds.
The case began in January 2022 under Justice Sherifat Solebo but was transferred to Justice Ijelu after Solebo retired. Phillips and her company were re-arraigned in May 2023 on five counts, including stealing and issuing dud cheques.
During the trial, both the prosecution and defense presented witnesses and documents. On December 12, 2024, Justice Ijelu declared Phillips guilty on all five charges.
- Phillips received a nine-year sentence or an option to pay a N2 million fine for the first count.
- She was sentenced to two years imprisonment for each of the remaining counts, running concurrently.
- Omritas Energy Limited was fined N250,000 for the first count and N100,000 for each of the other counts.
The court also ordered Phillips and her company to pay N57.6 million in restitution to AYM Shafa Limited within 90 days. If they fail to make the payment, Omritas Energy will be shut down.
This case serves as a reminder of the legal consequences of fraudulent activities in business. It also underscores the EFCC’s commitment to fighting corruption and ensuring justice.
