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.

Justice Inyang Ekwo, in his judgment also ordered the forfeiture of “the assets and properties” of the two firms to the Nigerian government.

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.

While P&ID Limited incorporated in British Virgin Island was represented in the dock by its Commercial Director, Mohammad Kuchazi, P&ID Nigeria Limited was represented by Adamu Usman, who is also a lawyer.

Both men pleaded guilty on behalf of the companies to all the 11 counts read to them before Justice Ekwo on Thursday.

Kuchazi was represented by his lawyer, Dandison Akurunwua, while Usman represented himself.

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.

After the defendants pleaded guilty to the 11 counts, an EFCC investigator, Usman Babangida, was called to the witness box for review of facts which was not opposed by the defence.

Documents relating to the controversial 2010 gas supply contract and EFCC’s investigation activities were tendered and admitted by the judge as exhibits without objection from the defence.

The judge then went on to pronounce the two firms represented by the two men guilty.

Making an allocutus, plea for mercy, P&ID’s lawyer Akurunwua, urged the judge to consider “the forthrightness and candour” of P&ID by pleading guilty and not wasting the time of the court in the trial.

https://punchng.com/breaking-court-winds-up-pid-nigerian-affiliate-orders-forfeiture-of-firms-assets-to-fg/

Lmaoooo

The hunter now the hunted.

Obviously the contract was a scam ab initio hence the litigation that led to the recent judgement at the International court was premised on fraudulent foundation.

Now that the two men have pleaded guilty to the charges brought against the company, I trust that Nigeria Government will waste no further time in appealing the judgement and MUST bring all perpetrators including their willing local collaborators to justice.

na so dem dey talk!
we don tire 4 them
na discos news na i dey find

Na so


Do me I do you.

What is our government cooking now?

Funny....tit for tat

Walahi, we joke with everything in this acclaimed country of ours

so them fit scam this whole country

OK

The hunter becomes the hunted. Kudos to Nigerian government and Nigerians.

That is the way to go. Kudos

Unpatriotic collaborators, citizens of hate republic and saboteurs will be in severe pain now

Watch as they will start ranting in their usual manner

Wat kind of kangaroo court order is this Nigeria is a zoo

Why am I happy at this news? even when this government failed to protect my business sha it's good news.

Let's wait for UK Court.

Good news

Excellent

Seize it all

Seize all their properties including the clothes on their back

Bastards

Yes

And some people were abusing the government.
Nawa o

Yes ooo...seize the modafvckers. It's time Nigeria starts playing tit for tat diplomacy. Enough with this docile, laid back attitude.

ogabs20:
The hunter becomes the hunted. Kudos to Nigerian government and Nigerians.

and you think this order will have any bearing on the $9.6b judgement?

Nigeria we hail thee.

First to do....

Do me I do you...

Tit for tat...

the film just started. Next is to appeal the uk court judgement. The uk constitution doest permit a private company to seize the asset of a sovereign country.

PID met their match in Buhari

mark1010:
Wat kind of kangaroo court order is this Nigeria is a zoo

What is this one saying?
Those people confessed to being guilty.

Seizing the assets isn't the case here!

Won't few corrupt politicians appropriate these assets to themselves?

Its now making sense, they didn't fight it.

Will this judgement affect the one they got in UK? By the way, do they have any assets in Nigeria?

I Hope it's $9.6bn worth?