Nigeria “Convicts” P&ID Staff, Takes Over P&ID Assets
This is certainly not a TV show - it is live and happening real. The Nigerian Government has convicted officials of P&ID staff for fraud; P&ID is a Virgin Islands company that holds a dubious $9.6 billion judgement against Nigeria in a British court. And after the conviction, the Nigerian government has also taken over all assets of the company (globally?). Now, the $9.6 billion that P&ID is asserting judgement against Nigeria now magically belongs to Nigeria. If you run the math, Nigeria has nothing to pay to P&ID because Nigeria now, by this judgment, has taken over all assets of P&ID. She ki na. o gwu go. gaskiya.
The Federal High Court has convicted the suspects arraigned on allegations of fraudulent involvement in the 2010 contract between the Nigerian government and an Irish firm, the Process and Industrial Development (P&ID).
The court also ordered the firm to forfeit all its assets to the Nigerian government.
The court gave its ruling after the suspects on Thursday pleaded guilty to an 11-count charge filed by the anti-graft agency, EFCC.
These staff had pleaded guilty according to Premium Times.
The Nigerian government on Thursday arraigned persons it said were representatives of the Process and Industrial Development Company (P&ID) before a Federal High Court in Abuja on allegations of fraud.
The government arraigned two suspects who pleaded guilty to 11 counts of fraudulent involvement in the contract.
The suspects are Muhammad Kuchazi, said to be a commercial director of P&ID and Adamu Usman, a director of the company in Nigeria.
The prosecution, the Economic and Financial Crimes Commission (EFCC), also suggested that the company had no license to sell petrol and that they did not comply with Nigeria’s tax requirements
