Eko Hot Blog reports that the Economic and Financial Crimes Commission (EFCC) has presented additional evidence against MICAD Project City Services Limited and James Nolan, a Director of Process and Industrial Development Limited, before Justice Nora Egwuatu of the Federal High Court in Abuja. This development was announced by the Head of Media and Publicity … Read more
The federal government will now proceed to full trial As part of it effort to get the $10 billion penalty judgment awarded against it in 2017 reversed over a failed deal, the Nigeria government has taken yet another big step towards actualising its objective as it secured another crucial victory in its case with Process … Read more
P&ID main witness in the arbitration gave a perjured evidence – Presidency Our assets have been protected from criminals The presidency has described the landmark judgement at a United Kingdom court in Nigeria protracted legal dispute with Process and Industrial Developments (P&ID) as ‘a huge source of satisfaction’. The United Kingdom court had, in its … Read more
Nigeria obtained a landmark victory in the aim to overturn a $10 billion judgement FG had approached the court to establish that the contract was awarded on illegal terms. Nigeria has on Thursday obtained a landmark victory in the aim to overturn a $10 billion judgement awarded against it in a case against Process … Read more
Nigeria’s request to summon 10 banks in the US regarding access to account statements of some of Nigeria’s former top public officeholders has been granted by a New York judge, Law360 understands. The granting of the subpoena is consequent upon a September 2019 judgement of a UK court that awarded $9.6 billion against Nigeria in … Read more
– Representatives of P&ID Ltd pleaded guilty before Federal high court – The british court empowered the firm through its judgement to seize about $9.6bn worth of Nigerian assets – The Economic and Financial Crimes Commission on Thursday arraigned P&ID Ltd, Virgin Island, its Nigerian affiliate, P&ID Nigeria Ltd Representatives of the Process and … Read more
– Federal Government said that it will negotiate with P&ID – Peoples Democratic Party(PDP) government that entered into the contract agreement, signed and executed in 2010 – So, with the lapsing of time to appeal, you could not have filed an application to either set aside the award or to stay execution The Federal … Read more