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Nigerians and their cohorts indicted over the gas contract award to Process and Industrial Development Limited (P&ID) which led to the imposition of the controversial $9.6billion fine on the country by a United Kingdom (UK) court are in for serious trouble as the federal government has ordered their immediate arrest.
The directive came as the federal government ruled out any form of negotiation or agreement with (P&ID), the UK firm which took Nigeria to court over the failed contract.
LEADERSHIP learnt that an intensive investigation by the Economic and Financial Crimes Commission (EFCC) showed that everything about P&ID: its profile, activities, operations, board of directors, among others, smear of scam.
It is against this backdrop that the federal government resolved not to engage in any negotiation with the firm or its representatives.
President Muhammadu Buhari had ordered the EFCC and other security agencies to investigate the circumstances leading to the award of the contract during the administration of the late President Musa Umar Yar’Adua and the actors involved in the disputed UK court verdict.
A source at EFCC told LEADERSHIP that “one of the disturbing things about this company (P&ID) is the fact that it claimed that the contract was signed in January 2010 while late President Musa Yar Adua left Nigeria for medical treatment in November 2009. Who would have negotiated such contract?
“The then vice president, Goodluck Jonathan couldn’t have signed a contract or approved a contract then when the issue of becoming an acting president was raging.
“Also, there was no trace or evidence of the contract being discussed in the Federal Executive Council (FEC) meeting, as contracts of such magnitude are usually discussed and approved in FEC before signing.
“Our investigation also showed that P&ID has linked with companies including a notorious oil firm which is involved in a lot questionable deals and currently has over 20 legal issues to address,” the source said.
The EFCC source further disclosed that a member of the board of directors of P&ID, who had earlier agreed to honour the invitation of the commission, declined and went underground. He said that this came after the board member agreed to visit the EFCC on Wednesday and Thursday last week.
Other directors of the company, the EFCC official said cannot be traced, even as their office address in Abuja, clearly showed that nothing about P&ID was found in the building currently occupied by law firm.
The source also noted that the EFCC operatives have gone far with the investigation and penciled down names of people who would be invited and arrested this week.
It was gathered that those found wanting in the course of the EFCC investigation but live abroad would be put on the INTERPOL watchlist while countries such as the United Arab Emirate (UAE), the United States (US) and even the United Kingdom (UK) would be contacted to work with the EFCC on the matter.
The chairman of the EFCC, Ibrahim Magu, had recently hinted that the Commission had commenced investigation into the circumstances leading to the $9.6billion arbitral award against Nigeria.
While describing the process leading to the judgment as “day light robbery”, Magu vowed that the anti-graft agency would forensically investigate the transaction and bring anyone found wanting to justice.
Prior to the outcome of the EFCC investigation, the federal government had said that it was ready to negotiate with P&ID over the UK court judgement which granted the firm the power to seize $9.6 billion in Nigerian assets in any part of the world.
2 Nigerians, 3 Foreigners To Benefit From Fine
Meanwhile, documents accessed by LEADERSHIP on the deal that has caused apprehension in Nigeria have showed that two Nigerians and three foreigners would benefit from the $9.6 billion arbitration award unless the federal government wins its planned appeal against the huge fine.
Analysts said that fine is almost half of the country’s annual budget.
The documents revealed that P&ID, whose official address indicates that it is registered in the British Virgin Island, has two Nigerians – Adamu Usman and Jadesola Awoyinfa – listed alongside three foreigners – Brendan Cahill, Michael Quinn and Neil Hitchcock as directors of the company. It has a local office at No. 12 Vaal Street, Maitama, Abuja.
The judgment was based on a contract between the federal government and the P&ID signed in 2010
The minister of Information and Culture, Lai Mohammed, who spoke on the matter on a television programme last week, said that the government was willing to meet with the P&ID to come up with a “reasonable” agreement.
Mohammed had said: “We are leaving no stone unturned to ensure that this judgment is set aside. I want to assure Nigerians that there is absolutely no imminent threat to the seizure of our assets because even the UK courts said they cannot begin any attachments until the courts are back and there will be further hearing on the matter.
“We are even willing to sit down with the P&ID and negotiate. We are ready to take this matter to the highest level – legal, diplomatic and otherwise – because we think it is just unfair and unconscionable. You don’t inflict this kind of injury on a country and its people for your selfish reasons.
“The government is doing everything possible to get self-execution and to set aside this award. But at the end of the day, we need to sit down with the P&ID and arrive at something that we think is reasonable for all the parties,” he said. (Leadership NG)
The directive came as the federal government ruled out any form of negotiation or agreement with (P&ID), the UK firm which took Nigeria to court over the failed contract.
LEADERSHIP learnt that an intensive investigation by the Economic and Financial Crimes Commission (EFCC) showed that everything about P&ID: its profile, activities, operations, board of directors, among others, smear of scam.
It is against this backdrop that the federal government resolved not to engage in any negotiation with the firm or its representatives.
President Muhammadu Buhari had ordered the EFCC and other security agencies to investigate the circumstances leading to the award of the contract during the administration of the late President Musa Umar Yar’Adua and the actors involved in the disputed UK court verdict.
A source at EFCC told LEADERSHIP that “one of the disturbing things about this company (P&ID) is the fact that it claimed that the contract was signed in January 2010 while late President Musa Yar Adua left Nigeria for medical treatment in November 2009. Who would have negotiated such contract?
“The then vice president, Goodluck Jonathan couldn’t have signed a contract or approved a contract then when the issue of becoming an acting president was raging.
“Also, there was no trace or evidence of the contract being discussed in the Federal Executive Council (FEC) meeting, as contracts of such magnitude are usually discussed and approved in FEC before signing.
“Our investigation also showed that P&ID has linked with companies including a notorious oil firm which is involved in a lot questionable deals and currently has over 20 legal issues to address,” the source said.
The EFCC source further disclosed that a member of the board of directors of P&ID, who had earlier agreed to honour the invitation of the commission, declined and went underground. He said that this came after the board member agreed to visit the EFCC on Wednesday and Thursday last week.
Other directors of the company, the EFCC official said cannot be traced, even as their office address in Abuja, clearly showed that nothing about P&ID was found in the building currently occupied by law firm.
The source also noted that the EFCC operatives have gone far with the investigation and penciled down names of people who would be invited and arrested this week.
It was gathered that those found wanting in the course of the EFCC investigation but live abroad would be put on the INTERPOL watchlist while countries such as the United Arab Emirate (UAE), the United States (US) and even the United Kingdom (UK) would be contacted to work with the EFCC on the matter.
The chairman of the EFCC, Ibrahim Magu, had recently hinted that the Commission had commenced investigation into the circumstances leading to the $9.6billion arbitral award against Nigeria.
While describing the process leading to the judgment as “day light robbery”, Magu vowed that the anti-graft agency would forensically investigate the transaction and bring anyone found wanting to justice.
Prior to the outcome of the EFCC investigation, the federal government had said that it was ready to negotiate with P&ID over the UK court judgement which granted the firm the power to seize $9.6 billion in Nigerian assets in any part of the world.
2 Nigerians, 3 Foreigners To Benefit From Fine
Meanwhile, documents accessed by LEADERSHIP on the deal that has caused apprehension in Nigeria have showed that two Nigerians and three foreigners would benefit from the $9.6 billion arbitration award unless the federal government wins its planned appeal against the huge fine.
Analysts said that fine is almost half of the country’s annual budget.
The documents revealed that P&ID, whose official address indicates that it is registered in the British Virgin Island, has two Nigerians – Adamu Usman and Jadesola Awoyinfa – listed alongside three foreigners – Brendan Cahill, Michael Quinn and Neil Hitchcock as directors of the company. It has a local office at No. 12 Vaal Street, Maitama, Abuja.
The judgment was based on a contract between the federal government and the P&ID signed in 2010
The minister of Information and Culture, Lai Mohammed, who spoke on the matter on a television programme last week, said that the government was willing to meet with the P&ID to come up with a “reasonable” agreement.
Mohammed had said: “We are leaving no stone unturned to ensure that this judgment is set aside. I want to assure Nigerians that there is absolutely no imminent threat to the seizure of our assets because even the UK courts said they cannot begin any attachments until the courts are back and there will be further hearing on the matter.
“We are even willing to sit down with the P&ID and negotiate. We are ready to take this matter to the highest level – legal, diplomatic and otherwise – because we think it is just unfair and unconscionable. You don’t inflict this kind of injury on a country and its people for your selfish reasons.
“The government is doing everything possible to get self-execution and to set aside this award. But at the end of the day, we need to sit down with the P&ID and arrive at something that we think is reasonable for all the parties,” he said. (Leadership NG)
