ruling of a Federal High Court in Abuja forfeiting its assets in Nigeria over charges of fraud and tax evasion.The Economic and Financial Crimes Commission on Thursday, arraigned those it said were linked to a controversial oil contract.
, which triggered the decision of a United Kingdom court to ask the company to seize $9.6bn in Nigerian asset. The company also said it was not aware that Nigeria conducted any investigation that led to the court hearing. “The individuals detained have not been afforded due process and have instead been pressured and intimidated by the government into making false statements.
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$9.6bn fine: Court orders forfeiture of P&ID's assets to FG - Daily Post NigeriaA federal High Court in Abuja, Thursday ordered the forfeiture of all assets belonging to Process and Industrial Development (P&ID) limited to the fede
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Reps summon Malami, Sylva over P&ID $9.6bn contract – Daily TrustThe House of Representatives yesterday resolved to investigate the circumstances that led to the $9.6bn judgment recently secured by Process and Industrial Developments Limited in a United Kingdom court against Nigeria. The House also resolved to invite the Attorney-General of the Federation, Abubakar Malami and the Minister of State for Petroleum, Timipre Sylva, for interrogation.ADVERTISEMENT …
Source: Daily Trust - 🏆 13. / 51 Read more »
$9.6bn contract scam: P&ID’s officials plead guilty to fraud - Daily Post NigeriaRepresentatives of the Process and Industrial Development Ltd on Thursday pleaded guilty before the Federal High Court in Abuja to charges of fraud and tax Nigeria had better pursue its grievances against the UK judgement rather than local court orders which would not receive global recognition. 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!
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Suspects’ conviction will help review $9.6b P&ID judgement, says MalamiBarely a few hours after the conviction of some suspects, the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami(SAN)...
Source: TheNationNews - 🏆 6. / 69 Read more »