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Nairaland Forum / Nairaland / General / Politics / BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules (25631 Views)
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BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by References: 12:09pm On Sep 19, 2019 |
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/ 20 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Mynd44: 12:15pm On Sep 19, 2019 |
Lmaoooo 28 Likes 4 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Bar1941(m): 12:17pm On Sep 19, 2019 |
Hope we can stand tall and at least take a bold decision at least for once in that part of the world. Many of these expatriates do bussinesses, work in our country without paying taxes (a huge offence elsewhere) yet they treated us like shît. 58 Likes 4 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by LibertyRep: 12:17pm On Sep 19, 2019 |
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. 56 Likes 5 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Gideoniteprime4: 12:17pm On Sep 19, 2019 |
na so dem dey talk! we don tire 4 them na discos news na i dey find 4 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by omofranyoung(m): 12:17pm On Sep 19, 2019 |
Na so Do me I do you. 2 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by aguiyi2: 12:17pm On Sep 19, 2019 |
What is our government cooking now? 3 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by daddytime(m): 12:18pm On Sep 19, 2019 |
Funny....tit for tat 5 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by ebuk4real(m): 12:18pm On Sep 19, 2019 |
Walahi, we joke with everything in this acclaimed country of ours 5 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by abrahamadadhe(m): 12:18pm On Sep 19, 2019 |
so them fit scam this whole country 8 Likes 1 Share
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Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by nerorex01: 12:18pm On Sep 19, 2019 |
OK 10 Likes 2 Shares
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Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by banio: 12:19pm On Sep 19, 2019 |
The drama continues |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by ogabs20(m): 12:19pm On Sep 19, 2019 |
The hunter becomes the hunted. Kudos to Nigerian government and Nigerians. 13 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by SuperS1Panther: 12:19pm On Sep 19, 2019 |
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 24 Likes 2 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by mark1010: 12:19pm On Sep 19, 2019 |
Wat kind of kangaroo court order is this Nigeria is a zoo 6 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Modernist: 12:20pm On Sep 19, 2019 |
Why am I happy at this news? even when this government failed to protect my business sha it's good news. 1 Like |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by StrikeBack(m): 12:20pm On Sep 19, 2019 |
Let's wait for UK Court. 3 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Fidelismaria: 12:20pm On Sep 19, 2019 |
Good news Excellent Seize it all Seize all their properties including the clothes on their back Bastards 18 Likes 3 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by wakaman: 12:20pm On Sep 19, 2019 |
Yes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by TemmyT002(m): 12:20pm On Sep 19, 2019 |
And some people were abusing the government. Nawa o 11 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by TheDestroyer: 12:21pm On Sep 19, 2019 |
Yes ooo...seize the modafvckers. It's time Nigeria starts playing tit for tat diplomacy. Enough with this docile, laid back attitude. 21 Likes 3 Shares |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by PaChukwudi44(m): 12:21pm On Sep 19, 2019 |
ogabs20: and you think this order will have any bearing on the $9.6b judgement? 6 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by otipoju(m): 12:21pm On Sep 19, 2019 |
Nigeria we hail thee. 1 Like |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by CGMedia: 12:21pm On Sep 19, 2019 |
First to do.... Do me I do you... Tit for tat... 2 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by ORIENTATION101: 12:22pm On Sep 19, 2019 |
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 20 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by TemmyT002(m): 12:22pm On Sep 19, 2019 |
mark1010: What is this one saying? Those people confessed to being guilty. 24 Likes 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by Trapnews: 12:22pm On Sep 19, 2019 |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by VillageHead: 12:22pm On Sep 19, 2019 |
Seizing the assets isn't the case here! Won't few corrupt politicians appropriate these assets to themselves? 3 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by theenchanter: 12:22pm On Sep 19, 2019 |
Its now making sense, they didn't fight it. |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by CyberWolf: 12:23pm On Sep 19, 2019 |
Will this judgement affect the one they got in UK? By the way, do they have any assets in Nigeria? 4 Likes |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by bigdammyj: 12:23pm On Sep 19, 2019 |
I Hope it's $9.6bn worth? 1 Like 1 Share |
Re: BREAKING: P&ID must forfeit all its assets to Nigeria, Court rules by theenchanter: 12:24pm On Sep 19, 2019 |
mark1010: 20 Likes
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