By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Independent News ExpressIndependent News Express
  • Home
  • International
    InternationalShow More
    UN Secretary-General Launches Report To Break “The Cycle Of Debt Distress”
    1 day ago
    Israel-Iran War: South Africa Wants United Nations To Step In
    6 days ago
    G7 finance leaders seek non-tariff consensus in Canada, may face US pushback
    Ahead G7 Summit, Finance Ministers Seek Non-tariff Consensus In Canada, May Face US Pushback
    1 month ago
    Over 28,000 Women And Girls Killed In Gaza Since October 2023
    1 month ago
    Global Aid Cut
    New Report Reveals How Global Aid Cuts Affecting Women’s Organisations Aiding Women In Crises
    2 months ago
  • Africa
    Africa
    Show More
    Top News
    Burkina Faso: UN Calls For Immediate Release Of 50 Kidnapped Women
    2 years ago
    Hunger, Diseases, Insecurity Threaten Life In Horn of Africa, As ‘129,000 Looking Death In The Eyes’
    2 years ago
    Niger Coup: PeacePro Urges AU, ECOWAS To End Foreign Military Presence In Africa Within 24 Months
    2 years ago
    Latest News
    Ooni’s Wife, Olori Temitope Enitan-Ogunwusi Takes Ile Ife Royalty To ADWIN Launch In Cote d’Ivoire
    2 weeks ago
    Independent UN Body Finds Systemic Racism Against Africans And People Of African Descent
    2 weeks ago
    Public Exit: Why South Africa Businesses Are Moving To Private Cloud
    3 weeks ago
    Cameroon Tops List Of World’s Most Neglected Displacement Crises
    4 weeks ago
  • Corporate News
    • Media Outreach
  • Politics
    Politics
    Show More
    Top News
    Imo Traditional Rulers Honour Buhari With ‘Friend In Diaspora’ Title
    2 years ago
    36 Lion FC Congratulate Lagos State Governor, Babajide Sanwo-Olu
    2 years ago
    Tinubu To New Ministers: You’re To Serve The Nation, Not Your Regions Or States
    2 years ago
    Latest News
    Lagos LG Poll: Tunde Disco/Ganiyu Obasa Intensify Campaign In Agege
    1 day ago
    PHOTOS: Vinod Obasa Joins Other Lagos APC LG Candidates At Sanwo-Olu’s Reception
    4 days ago
    Lagos Lawmaker Praises Tinubu For Helping Nigeria Breathe Again
    3 weeks ago
    LG Election: Stakeholders Appeal To APC Not To Allow Chairmen Run For 3rd term
    2 months ago
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
    News
    Show More
    Top News
    Pa Abdulfatah Amoo Ayanwale
    Pa Ayanwale Dies At 76, Fidau Prayers Holds 8 August
    2 years ago
    Celebration Of Life: Reverend Adewumi Jegede Of Later House Of God Assembly Buried Amid Pomp
    1 year ago
    Ondo Governor, Akeredolu Begins Construction Of First Flyover In Akure
    2 years ago
    Latest News
    D2D Satellite Comms: Nigeria’s Space Research Agency Signs MoU With Chinese Firm, Galaxy Space
    1 week ago
    Substance Use Prevention In Focus As NDLEA, UNODC Unveil 2025 World Drug Day Activities
    1 week ago
    Benue: Stop the Killings, CAPPA Demands Immediate Action
    2 weeks ago
    Court Orders Flouted Again as Armed Men Escort Attempted Takeover Of Lekki Property
    2 weeks ago
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
    Entertainment
    Show More
    Top News
    Holiday Vibes Continue On GOtv This January
    2 years ago
    Xpression With CDO Campus Tour Rocks OAU, Plans To Hit Over 50 Varsity Campuses 
    2 years ago
    Burna Boy Emerges First African Artiste To Hit 1 Billion Audiomack Streams
    2 years ago
    Latest News
    The Drama Returns As BBNaija ‘No Loose Guard’ Reunion Premieres June 23
    6 days ago
    You Can’t Fake it — James Omekwe On MultiChoice’s Impact On African Filmmaking
    2 weeks ago
    Jkenova and Ellacentric Exit Nigerian Idol Season 10 In Emotional Farewell
    3 weeks ago
    MultiChoice Africa x African Storytelling: How Local Content Shapes Local Culture
    3 weeks ago
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
    Lifestyle
    Show More
    Top News
    ZEN Opens Second Studio In Lagos
    8 months ago
    Christmas: Obasa Congratulates Christians, Urges Love Among Nigerians
    2 years ago
    Noble Call to Service: Inside the Induction of 104 New Knights of St. Mulumba
    2 weeks ago
    Latest News
    Noble Call to Service: Inside the Induction of 104 New Knights of St. Mulumba
    2 weeks ago
    Joining The Knighthood Brings You Closer To God -Sir Eva Njemanze
    2 weeks ago
    Africa Tech Festival Unveils Strategic Themes For 2025 Event,
    2 weeks ago
    Lagos SWAN Joins UN To Celebrate World Nutrition Month At Unilag Confab
    1 month ago
  • Business
    • Banking & Finance
    • Oil & Gas
    BusinessShow More
    NNPCL Board Accused Of Planning Lavish Party In Rwanda Amidst N210tn Financial Scandal
    1 week ago
    Can the African Energy Bank Transform the Continent’s Refining and Downstream Future?
    2 weeks ago
    Lagos Will Continue To Lead Initiatives That Accelerate Economic Diversification – Sanwo-Olu
    1 month ago
    Afreximbank
    Afreximbank Reports Strong Performance For Q1 2025 In Line With expectations
    1 month ago
    Pan-African Payment & Settlement System
    Nigeria Unlocks Intra-African Trade With New Pan-African Payment & Settlement System Policy Boost
    2 months ago
  • Health
    Health
    Show More
    Top News
    WHO Wants More Action To End ‘Cycles Of Poverty And Stigma’ Related To Tropical Diseases
    2 years ago
    Dakar Declaration: WHO Moves To Save Lives Through Road Crash In Africa
    2 years ago
    Loneliness Linked With Elevated Risk Of Cardiovascular Disease In Patients With Diabetes
    2 years ago
    Latest News
    Online Education Can Enhance Clinical Guideline Use By Over 50% 
    2 weeks ago
    The Hidden Lifeline – Blood Security And Africa’s Health Agenda By Dr Allan Pamba
    2 weeks ago
    Apepa or Arterial Blockage? The Urgency of Self-Care After 45 By Babafemi Ojudu
    3 weeks ago
    Roche Launches Diagnostics Operations In Nigeria,
    4 weeks ago
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Reading: N57m Fraud Trial: Bank Officer Admits Businesswoman, Oluremi Phillips Didn’t Sign Alleged Dud Cheques
Share
Notification Show More
Aa
Independent News ExpressIndependent News Express
Aa
  • Home
  • International
  • Africa
  • Corporate News
  • Politics
  • News
  • Entertainment
  • Lifestyle
  • Business
  • Health
  • More
Search
  • Home
  • International
  • Africa
  • Corporate News
    • Media Outreach
  • Politics
  • News
    • Agriculture
    • Breaking News
    • Tech
    • Maritime
    • Crime
    • Art & Culture
  • Entertainment
    • Comedy
    • Movies
    • Music
    • Television
    • Concert & Events
  • Lifestyle
    • Fashion
    • Love & Life
    • Food & Drink
    • Travel & Tourism
    • Relationship
    • Sex
  • Business
    • Banking & Finance
    • Oil & Gas
  • Health
  • More
    • Sports
    • Aviation/Transportation
    • Deliverance Hour
    • Industry & Labour
    • Insurance
    • Interview
    • Judiciary
    • Metro
    • Opinion
    • Property
    • Religious
    • Romance
    • Science & Discovery
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Independent News Express > Blog > Metro > N57m Fraud Trial: Bank Officer Admits Businesswoman, Oluremi Phillips Didn’t Sign Alleged Dud Cheques
MetroNews

N57m Fraud Trial: Bank Officer Admits Businesswoman, Oluremi Phillips Didn’t Sign Alleged Dud Cheques

Last updated: 2024/05/08 at 1:16 PM
1 year ago
Share
SHARE

A witness has admitted under oath that businesswoman and Managing Director of Omritas Energy Limited, Mrs Oluremi Ebun-Phillips did not sign the cheques allegedly presented to AYM Shafa Limited meant for the repayment for Automotive Gas Oil not completely supplied.

Giving evidence in Justice Ismail Ijelu of Ikeja Special Offences Court in Ikeja, Lagos State, southwest Nigeria on Tuesday, a senior officer of Access Bank, Mr Chibueze Chukwuma of the department of Conduct and Compliance disclosed while being cross examined by the defence counsel, Akin Olatunji, that the signature on the four cheques allegedly presented to the Complainant, AYM Shafa Limited, was not of the defender.

Ebun-Phillips, and her company, Omritas Energy Ltd, are standing trial in the court on a five-count charge bordering on stealing and issuance of dud cheques to the tune of N57, 690,000.00.

- Advertisement -
Ad imageAd image

She was alleged to have fraudulently converted the sum of N57,690,000.00, property of AYM Shafa Limited meant for the supply of Automotive Gas Oil (AGO), which was not completely supplied.

Ebun-Phillips had earlier in her evidence told the court that the N57,690,000.00 represented the AGO AYM Shafa refused to load due to crash in price at Omritas Energy Limited’s nominated depot in Akwa Ibom State.

One of the counts reads: “Oluremi Ebun Philips and Omritas Energy Limited, sometime in 2016 at Lagos, within the jurisdiction of this Honourable Court, fraudulently converted and stole the sum of N57,690,000.00, property of AYM Shafa Limited meant for the supply of Automotive Gas Oil (AGO), which you failed to supply.”

Another count reads: “Oluremi Ebun Philips and Omritas Energy Limited, on or about the 10th of April 2017 at Lagos, within the jurisdiction of this Honourable Court, knowingly issued a Diamond Bank cheque for the sum of N14, 298,075.00 payable to AYM Shafa Limited, which when presented for payment was dishonoured on the grounds that no sufficient funds were standing to the credit of the account.”

However, in his evidence on Tuesday, the Access Bank staff said there is only one signatory on the account with his bank which is that of Oluwasegun Johnson Omodele Phillips, the chairman of Omritas Energy Limited, which is also on the Mandate Card.

When the defence counsel presented the questionable cheques to the banker in the court, Chukwuma disclosed that the signatory on the cheques are the same with the one on the Mandate Card, hence it was not Oluremi Ebun-Phillips that signed the cheques.

On the reason the cheques were not honoured by the bank upon presentation by AYM Shafa, the banker said the amount on the cheques violated the threshold of the Central Bank of Nigeria (CBN) which stipulates that cheque above N10 million should not be honoured by any bank in Nigeria no matter the huge amount of money that might be inside the account.

The EFCC’s lawyer, Miss N.C. Mutfwang in her own cross examination wanted to establish the fact that on each day the four cheques were to be presented to the bank, there was insufficient fund in the account, which the banker admitted to be so.

Meanwhile, the case has been adjourned to 3 June 2024 for the defence counsel to present his last witness.

You Might Also Like

D2D Satellite Comms: Nigeria’s Space Research Agency Signs MoU With Chinese Firm, Galaxy Space

Substance Use Prevention In Focus As NDLEA, UNODC Unveil 2025 World Drug Day Activities

Benue: Stop the Killings, CAPPA Demands Immediate Action

Court Orders Flouted Again as Armed Men Escort Attempted Takeover Of Lekki Property

Aircraft Mishap: ACPPN Commiserates With Indian High Commission In Nigeria

INadminNG May 8, 2024 May 8, 2024
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Print
Previous Article SWAN Congratulates BOT Member For Ascending Forefathers’ Throne In Ekiti State
Next Article Unlocking The Potential Of AI Can Leapfrog Education Development In Nigeria
about us

Independent News Express (iNews Express), a publication of 4Ds Nigeria Limited, is birthed out of the desires of the founding fathers to report News as it is.

We value Professionalism, Excellence, Service, Creativity and Integrity.

The Company

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy

Quick Links

  • Advertise with us
  • Newsletters
  • Deal

Categories

Find Us on Socials

© Independent News Express. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?