The Federal High Court in Abuja on Thursday convicted and subsequently ordered the winding up of Process and Industrial Development Limited and its Nigerian affiliate, P&ID Nigeria Limited, for charges of fraud and tax evasion in respect of the contract leading to the recent controversial judgment of a British court empowering the firm to seize about $9.6bn worth of Nigerian assets.
The judge made the orders shortly after the two firms, through their representatives, pleaded guilty to the 11 counts instituted against them by the Economic and Financial Crimes Commission. Both men pleaded guilty on behalf of the companies to all the 11 counts read to them before Justice Ekwo on Thursday.They were accused of among others, fraudulently claiming to have acquired land from the Cross River State Government in 2010 for the gas supply project agreement which led to the $9.6bn judgment.
Am with govt decision, enough is enough of shenanigans of some scam UKFDI, this UK crappy conspirators want to intimidate us, PI&D no way
Haha P&ID is yet 2 kno that they ar dealing with Nig. real_igodye had said it that MBuhari is a sharp guy, he knows what he is doing. Welcome to Nig, foreign investors, this is Naija, we run our things our style. When two judgments fight, FDI go know him fate.. Filee, ooshe!
let's watch the Game of Chess blw FG vs P&ID. Scores 1:1.
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