P&ID Scam: EFCC hails dismissal of $11 5bn judgment against Nigeria vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
The Economic and Financial Crimes Commission, EFCC, has applauded the dismissal of the arbitrary $6.6 billion judgment against Nigeria, won by the Process & Industry Development, P&ID Ltd, over a failed 2010 deal to develop a gas processing plant in the country. A United Kingdom Judge, Robin Knowles of the Business and Property Court in London, on Monday, October 23, 2023, ruled that the award was obtained by fraud and that what happened in the case was contrary to public policy.
A Federal High Court in Abuja has issued a bench warrant on James Richard Nolan, a Briton, for jumping bail and failing to appear before the court for trial. Justice D. U. Okorowo issued the bench warrant on Tuesday. Nolan, one of the directors of Goidel Resources Limited, a Designated Non-Financial Institution, DNFI, and another company, ICIL Limited, are standing trial on 16 counts bordering on money laundering.
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The Economic and Financial Crimes Commission (EFCC), on Thursday made a tripartite application before Justice D.U. Okorowo of the Federal High Court sitting in Abuja, praying the court to issue a bench warrant for the arrest of a Briton, James Richard Nolan, over the $9.6billion P&ID scam. Recall that Nolan, a Director in the Process and Industrial Development Limited (P&ID) is facing a $9.6 billion money laundering trial alongside Goidel Resources and ICIL Limited.