Business

P&ID: Nigeria secures landmark victory in a bid to overturn $10bn ruling

Ihesiulo Grace 4 September 2020 0

Nigeria has secured a landmark victory in its pursuit to overturn a $10 billion judgement awarded against it in a case with Process and Industrial Developments (P&ID). Process & Industrial Developments is a company based in the British Virgin Islands, that signed a contract with

Featured Law

Alleged P&ID scam: Witness gives transaction details in Briton’s account

Ihesiulo Grace 17 December 2019 0

Abuja – Akinwande Adewale Akinseye, an Economic and Financial Crimes Commission (EFCC)’s witness, on Monday, gave details about series of transactions in the bank account of James Nolan, the British national and a director in the Process and Industrial Development (P&ID) Nigeria Ltd. Akinseye spoke before Justice Okon Abang during a cross-examination in the

Featured Politics

P&ID Scandal: AGF not aware of agreement–Witness

Ihesiulo Grace 12 December 2019 0

A prosecution witness, CSP Umar Babangida, on Thursday told an FCT High Court that contrary to the claims of Grace Taiga, the office of the Attorney General of the Federation did not receive a copy of the Gas Supply and processing Agreement allowing P&ID to operate in Nigeria. Babangida, an investigator with the Economic and […]

Featured Headlines News

P&ID $9.6bn debt: If you jail me 100yrs it will not change status, Nolan tells Court

Ihesiulo Grace 9 December 2019 0

Mr. Richard James Nolan, one of the signatories to the account of the Process & Industrial Development (P&ID) that obtained $9.6bn Dollars judgment debt against the Federal Government has said “even if he is jailed 100 years it will not change the status of the liability for better or worse”. Nolan stated this on Friday […]

Politics

P&ID: FG secures variation of UK court order

Ihesiulo Grace 30 November 2019 0

Abuja –  Nigeria has succeeded in securing variation of the UK court order from cash payment of 200 million dollars security to issuing bank guarantee of the same amount in respect of the P&ID scam. Abubakar Malami, the Attorney-General of the Federation and Minister of Justice, made this known in a statement issued by Dr Umar […]

Crime

Alleged P&ID scam: Court refuses to grant adjournment in trial of Briton

Ihesiulo Grace 20 November 2019 0

 Justice Okon Abang of the Federal High Court, Abuja, on Wednesday, overruled the British national, James Nolan, on his application for adjournment over inability of his counsel to prepare for his defence. Justice Abang, who overruled Nolan, ordered the Economic and Financial Crimes Commission (EFCC) Counsel, Ekele Iheanacho, to call his first witness. News Agency […]

Featured Headlines Politics

P&ID Case: FG to appeal $200m conditional award for stay of execution

Ihesiulo Grace 3 October 2019 0

Abuja – The Federal Government will appeal the order of a UK commercial court awarding 200 million US dollars conditional payment for granting stay of execution in a judgment debt against Nigeria over a botched gas contract. The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this on Wednesday in Abuja while briefing newsmen […]

Politics

Nigeria vs P&ID: FG gives details shady deals

Ihesiulo Grace 3 October 2019 0

Abuja – The Federal Government has given details of fraudulent circumstances surrounding the Gas Supply Processing Agreement (GSPA) with Process and Industrial Developments Ltd (P&ID) leading to the award of N9.6 billion dollars  judgment debt against Nigeria. Minister of Information and Culture, Lai Mohammed gave the account on Wednesday in Abuja while briefing

News

Why UK judge allowed Nigeria to appeal ruling on $9.6bn P&ID case

Ihesiulo Grace 26 September 2019 0

A UK judge on Thursday gave the Federal Government permission to seek to overturn a ruling that would have allowed Process and Industrial Development Ltdan Irish-founded company to seek to seize more than $9 billion (€8.2 billion) in assets. According to Reuters/Bloomberg the judge also granted Nigeria’s request for a stay on any asset seizures while […]

News Politics

Nigeria seeks extradition of P&ID Co-founder, son for trial

Ihesiulo Grace 26 September 2019 0

The Federal government has commenced moves for the extradition of Mr. Brendan Cahill the co-founder of Process & Industrial Developments (P&ID) an an Irish firm and his son Mr. Adam Quinn, over role in a 20 year Gas Supply and Processing Agreement (GSPA) entered in 2010 between FGN (through the Ministry of Petroleum Resources) and […]

News

$9.6bn: P&ID threatens to seize Nigeria’s assets in UK

Ihesiulo Grace 26 August 2019 0

Process and Industrial Developments Ltd (P&ID) has threatened to seize Nigeria’s assets in the United Kingdom, UK, to enforce the order of a British court against Nigeria. The firms’ representative, Mr John Ehiguese revealed in a statement that they are ready to seize any Nigerian naval vessels or oil cargoes, as they are in search […]