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UPDATED: P&ID representatives plead guilty to fraud and tax evasion charges

Chidinma Nwagbara by Chidinma Nwagbara
September 19, 2019
in Business News, Politics
$9bn, P&ID, $9.6 billion award: UK Court grants Nigeria stay of execution, requests $200 million payment, Buhari secures fresh $308 million Abacha loot from US 

Abubakar Malami, SAN

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The Economic and Financial Crimes Commission (EFCC) has arraigned two representatives of the British Firm – Process and Industrial Developments Ltd (P&ID) on 11 counts charges.

The representatives pleaded guilty before the Federal High Court in Abuja to the charges levelled against them in relation to the contract leading to the recent controversial $9.6 billion court judgment given by a British court against the Nigerian Government.

The firms, P&ID Ltd in British Virgin Island, and P&ID Nigeria Limited were represented by the Commercial Director, Mohammad Kuchazi and a lawyer, Adamu Usman respectively.

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[READ MORE: TY Danjuma states his role in the P&ID contract controversy]

They were alleged to have fraudulently claimed to have acquired land from the Cross River State Government in 2010 for the gas supply project agreement that resulted in the $9.6 billion judgment.

They also pleaded guilty to another count of obtaining land from the state government with the intent to defraud, as well as the count for conspiring with certain individuals to commit a felony by dealing with petroleum product without the appropriate license.

More details: After both men representing the firms pleaded guilty to all the 11 counts read to them before Justice Inyang Ekwo on Thursday, Ekwo stated that the firms had admitted to the crime and so there was no other option than to rule against them.

An EFCC investigator, Usman Babangida, was called to the witness box for review of facts, none of which was opposed by the defence. Also, evidence was brought up in the form of documents relating to the controversial 2010 gas supply contract and EFCC’s investigation activities.

[READ ALSO: FG bows to pressure, ready to negotiate with P&ID firm over $9 billion U.K judgement]

Following the provisions of section 19(2) of the Money Laundering Prohibition Act, 2011, and section 10(2) of the Advance Fee Fraud and other related offences Act, 2006, the court went on to pronounce the firms guilty and ordered the Federal Government to wind up the firm’s assets and confiscate their properties in the country.

 


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Tags: 20062011Adamu UsmanAdvance Fee Fraud and other related offences ActEFCCfraud and tax evasionJustice Inyang EkwoMohammad KuchaziMoney Laundering (Prohibition) ActP&ID Ltd Virgin IslandP&ID Nigeria LimitedProcess and Industrial Developments Ltd (P&ID)Usman Babangida
Chidinma Nwagbara

Chidinma Nwagbara

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - chidinma.nwagbara@nairametrics.ng

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