Featured
$9.6bn Scam: Court Winds Up P&ID, Orders Forfeiture Of Assets …As Nigeria’s Legal Team Meets In London, Moves For Revocation of Fine
The Federal High Court in Abuja, yesterday, 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 $9.6billion 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 (EFCC).
Relying on 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 ordered the Federal Government to wind up the two firms and confiscate all their assets in the country.
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.
Kuchazi was represented by his lawyer, Dandison Akurunwua, while Usman represented himself.
Both men pleaded guilty on behalf of the companies to all the 11 counts read to them before Justice Ekwo, yesterday.
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 $9.6billion 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.
Meanwhile, with the trial and conviction of both the British Virgin Island and the Nigerian affiliate of Process and Industrial Development Limited (P&ID) by a Federal High Court for fraud and corruption, Nigeria is set to present the United Kingdom Appeal Court handling the case, with a new set of pleading to revoke the monumental award against the country.
Beyond the conviction of the company, the Nigerian federal court also ordered the forfeiture of the assets of the company to the Federal Government.
Arising from the judgment, a consortium of Nigeria’s legal team is set to meet in London early next week with a view to reviewing the case and making an appropriate adjustment to its deposition towards the revocation of the award earlier granted by the court to the shadowy company, which has now been convicted.
It was learnt that with the conviction, Nigeria is likely going to argue before the court of appeal that the UK commercial and Arbitration Court was misled by the suspects to grant the huge award and should, therefore, be revoked given the new and better information that was unavailable to the country at the time.
Minister of Justice and Attorney General of the Federation, Abubakar Malami, yesterday, confirmed that the legal team would be converging in London to review the case and take further steps to advance the cause of justice and Nigeria in the case, which has drawn global attention.
Malami said: “Nigeria is expected to review its strategy in view of the unfolding development as it relates to the conviction of some of the suspects that have admitted to fraud and corruption that gave rise to the award.
“The implication of today’s conviction of the suspects by the FHC in Nigeria is that Nigeria has a judicial proof of fraud and corruption as a foundation of the relationship that gave rise to a purported liability and arbitral award.
“From the available evidence, Nigeria now has a cogent ground to ask for the setting aside of the entire liability.
Featured
Fubara Frowns At Slow Pace Of Ndele–Omofo–Egmini–Agba-Ndele Road Project ….Says Contract May Be Reviewed
Rivers State Governor, Sir Siminalayi Fubara, has expressed dissatisfaction over the slow progress of work on the 14.5-kilometer Ndele/Omofo/Egamini/Agba-Ndele Road project located off the East–West Road in Emohua Local Government Area.
Addressing newsmen during an inspection tour of the project on Tuesday, the Governor noted that the pace and quality of work being delivered by the contracting firm, Messrs Stream Co. & Equipment Limited, fell below acceptable standards.
He was accompanied on the tour by the Permanent Secretary, Ministry of Works, Dr. Austin Ezekiel-Hart, who briefed the Governor on the status of the project and adjoining infrastructure.
Governor Fubara, who appeared visibly unsatisfied with what he saw on the stretch of the road, said his administration would not condone mediocrity or allow public funds to be wasted on underperforming projects. He, therefore, hinted that a review of the contract may be imminent to ensure the delivery of quality infrastructure to the people.
“I can say here already that the contractor handling the road from the bridge to the East–West Road is not doing a good job. I’m not happy about it. When I get back, there will be a need to review that contract because I’m not impressed. They don’t have the capacity, and we need capacity because we must have value for whatever money we’re spending,” the Governor said.
The Governor, however, commended Setraco Nigeria Limited for the standard and pace of work on the 240-meter Agba-Ndele/Abua Bridge, which forms a major component of the project. He explained that the bridge, which his administration inherited, would significantly improve connectivity among communities in the area once completed.
Governor Fubara stated that the bridge will serve as a key link between communities in Abua/Odual, Ahoada-East, and Emohua Local Government Areas, reducing travel time and providing an alternative route to the East–West Road.
He emphasised that the project demonstrates his administration’s commitment to rural connectivity and inter-community access, which are central to his development vision for Rivers State.
“Where we are standing on is a bridge connecting Abua/Odual, Ahoada-East, and Emohua Local Government Areas. The community that is connected to this bridge is Agba-Ndele.
“Instead of running through the East–West Road to Ahoada-East and heading into Port Harcourt or out of it, this bridge provides easy access for the Abua/Odual people to cross into Emohua, Agba-Ndele, and access the East–West Road in minutes,” he explained.
Governor Fubara also expressed optimism that the bridge would be ready for use in early 2026, noting that Setraco’s expertise and performance met his administration’s expectations for quality and delivery timelines.
He highlighted that projects of such importance should be handled by firms with the capacity to meet government standards.
The Governor further remarked that once completed, the bridge would serve as a crucial economic corridor for farmers and traders, especially those involved in agriculture and cultivation of local produce across the beneficiary local government areas.
He maintained that his administration is determined to deliver people-oriented projects that promote connectivity, strengthen commerce, and enhance livelihoods across the State.
“I’m really impressed with what I’ve seen on the bridge. I’m very sure that before the end of January, it might be completely ready for us to walk through and even drive across,” Governor Fubara said.
Reaffirming his vision for Rivers people, the Governor noted that his development plan seeks to integrate all parts of the State through strategic infrastructure investments that promote mobility, social cohesion, and economic growth.
He explained that his government is executing projects across multiple local government areas to ensure balanced development and inclusivity.
Governor Fubara stated that the administration will soon address the deplorable state of the Abua/Ahoada Road, which he said, will be included in the 2026 state budget.
“Our vision is to connect the entire Rivers State together, especially communities that have challenges of access. The bridge here connects Abua/Odual and Ahoada-East to Emohua and Port Harcourt. It will ease movement, promote trade, and boost our economy because agriculture is strong on this side. Moving goods to the city won’t be a problem anymore,” he said.
Governor Fubara reiterated his administration’s commitment to delivering quality infrastructure that provides value for public funds and meets the aspirations of Rivers people.
Featured
Fubara Pledges Cleaner Gateway To PH City …Visits New Dumpsite At Igwuruta
Rivers State Governor, Sir Siminalayi Fubara, has unveiled plans to permanently relocate the dumpsite along the busy Port Harcourt Airport–Obiri-Ikwerre Road, describing the current location as both a public health threat and a damaging first impression for visitors arriving in Port Harcourt, the State capital.
The Governor made this known on Tuesday during an inspection of a proposed replacement site, which is a disused burrow pit near Bambo Estate, off Eneka Road in Igwuruta, Ikwerre Local Government Area.
The location is being assessed as a potential permanent dumpsite for the State.
Governor Fubara, who was conducted by the Board Chairman, Rivers State Waste Management Agency (RIWAMA), Dr Samuel Nwanosike, and its Managing Director, Dr Ibimina Wokoma, expressed concern about the environmental and health challenges posed by the existing site, which sits along a major entry point into the State.
“The kind of environmental hazards that we are facing there along the Airport–Obiri- Ikwerre Road; the smell on that road being the entrance into the State, we felt it’s not proper,” he said. “So, we are making alternative arrangements so we can have a permanent refuse dumpsite that meets acceptable standards.
“He added that the government would move swiftly to formalise ownership of the land and complete construction work on the access road to make the new site functional.“We have not concluded the issue of the burrow pit, but the access road, I think the government is doing something about it.
So, I will make sure that everything that needs to be done to ensure government owns this burrow pit is done,” he stated.
Governor Fubara also commended the Rivers State Waste Management Agency (RIWAMA) for what he described as a more assertive and improved approach to managing refuse across the State.In addition to the dumpsite inspection, the Governor also visited the Permanent Secretaries’ Quarters located in Elimgbu Town, Obio/Akpor Local Government Area, to assess the extent of ongoing construction work on the facility.
Featured
Fubara Tasks New SSG On Honour, Service, Protection Of Rivers Interest
Rivers State Governor, Sir Siminalayi Fubara, has charged the newly appointed Secretary to the State Government (SSG), Barrister Benibo Anabraba, to uphold the dignity of his office, protect the interest of the State, and discharge his duties with honour, respect, and responsibility.
Governor Fubara gave the charge during the swearing-in ceremony of the new SSG, held on Monday at the Executive Council Chambers of Government House, Port Harcourt.
Describing Anabraba’s appointment as an act of divine favour, the Governor said positions of leadership are not attained by our own human effort but by God’s grace in our lives.
“Let me first congratulate you. I’m using the word ‘congratulations’ because a few of us, not by our power but by the special favour of God, find ourselves in exalted positions. It’s not because we are the best, but only by His grace.”
Governor Fubara noted that the Office of the Secretary to the State Government is one of great honour, occupied by only a few since the creation of Rivers State, and urged the new appointee to serve with humility and dedication.
He, however, expressed confidence in Anabraba’s capacity to deliver, citing his past record as a principal officer of the Rivers State House of Assembly.
“This position is a rare privilege. Guard that office with honour. Discharge your duties with respect. Protect the interest of Rivers State. When you leave office, let it be with honour, and that only comes through responsible service.
“I know you’re a dedicated person. This opportunity is not for show or display of power. It’s a call to duty,” he cautioned.
The Governor emphasised that the current administration is focused on restoring confidence of the people because peace has been achieved in the State.
He enjoined the new SSG to align with the vision of the administration and contribute meaningfully to the collective progress of Rivers people.
“We are emerging from a very difficult period and must reassure our people that we mean well for them, especially now that peace has returned to Rivers State. By the grace of God, do your work well. Help us succeed in this assignment that God has given to us,” the Governor added.
-
Sports4 days agoBarca Impress On Return To Camp Nou
-
Sports4 days agoSunderland Fall At Fulham
-
Sports4 days agoBundesliga: Oliseh Stars As Bayern Rebound To Thrash Freiburg
-
Sports4 days agoForest Embarrass Liverpool At Anfield
-
Niger Delta4 days agoTraditional Ruler Seeks End To Benin Artifacts Unauthorized Promotion
-
Sports4 days agoOgoni Nation Cup: Victory Against Amee Base Excites Coach
-
Maritime4 days agoNSC Decries Police Interferences With Cargoes At Seaports
-
Politics4 days agoCleric Tasks APC On Internal Stability, Warns Otti
