$9.6bn Fine: P&ID Representatives Plead Guilty to Economic Sabotage, Money Laundering

1

By  Enumah in Abuja
 
Two representatives of the Process and Industrial Development (P&ID) on Thursday pleaded guilty to the eleven-count charge preferred against them by the federal government in respect of the failed contract that led to a recent award of $9.6bn judgment against Nigeria by a British Commercial Court.
The representatives pleaded guilty to all the charges during their arraignment before the Federal High Court, Abuja by the Economic and Financial Crimes Commission (EFCC).
P&ID Ltd,  the parent company incorporated in the British Virgin Island was represented by its Commercial Director, Mohammad Kuchazi, while P&ID Nigeria Limited was represented by Adamu Usman.
The charges border on economic sabotage, money laundering, tax evasion amongst others.
Details later….