The Economic and Financial Crimes Commission (EFCC) has initiated legal proceedings against a British national, James Nolan, who is presently evading authorities. Nolan is accused of being implicated in a P&ID (Process and Industrial Developments) scheme that resulted in Nigeria suffering losses in the billions of dollars.
The EFCC has lodged a 32-count charge against Nolan, in addition to two Nigerian entities, Goidel Resources Limited and ICIL Limited, before Justice Okon Abang of the Federal High Court in Abuja. These charges encompass offenses related to money laundering, bribery, and failure to provide comprehensive asset declarations.
The genesis of the P&ID scheme traces back to 2010, when the Nigerian government entered into a gas supply and processing agreement with P&ID. The company was tasked with constructing and operating a gas processing facility, but the venture never came to fruition. P&ID subsequently pursued legal action against Nigeria, demanding compensation for the abortive project. In 2017, a London tribunal awarded P&ID $6.6 billion in damages.
The EFCC contends that Nolan, who served as the Director of P&ID Nigeria Limited, colluded with others to defraud Nigeria through this agreement. Allegedly, he received illicit payments and engaged in money laundering activities to facilitate the fraudulent transaction.
Nolan, who is suspected to have fled Nigeria, is currently a fugitive. The EFCC has sought assistance from INTERPOL (International Police) to apprehend him and return him to Nigeria for trial.
This legal action against Nolan and the two Nigerian entities represents a significant stride in Nigeria's endeavor to recover the losses incurred in the P&ID scheme. The EFCC is resolute in its commitment to hold all involved parties accountable and ensure that justice prevails.
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