By George Igini
Abuja (Precise Post) – Representatives of the Process and Industrial Development Ltd on Thursday pleaded guilty before the Federal High Court in Abuja to charges of fraud and tax evasion instituted against them.
The Economic and Financial Crimes Commission (EFCC) on Thursday, arraigned two firms that were linked to the controversial oil contract (P&ID) that led to the judgement of the British Court that ordered the seizure of Nigeria’s foreign assets worth $9.6billion.
The firms, P&ID Ltd, Virgin Island and its Nigerian affiliate, P&ID Nigeria Ltd, pleaded guilty to the 11-count which bordered on fraud and tax evasion.
Precise Post recalls that the House of Representatives on Wednesday summoned the Attorney General and Minister of Justice Abubakar Malami and Minister of State Petroleum Timipre Sylva have been summoned by the House of Representatives over the $9.6 billion judgment debt against the country in the United Kingdom.
The angry lawmakers took the decision at plenary on Wednesday after deliberating on a motion of urgent national importance moved by Prof. Julius Ihonvbere.
The House observed that “this embarrassing judgment exposes a deep decay in our governance and leadership infrastructure with far-reaching implications for the credibility of the country’s capacity to handle business and legal cases.”
It mandated a 17-man ad Hoc Committee to invite the ministers and other government officials that are connected to the deal
